Form 4: Red Robin Executive Sells Shares for Tax Withholding

Red Robin Gourmet Burgers Inc. reports that Chief Operations Officer Jesse Griffith sold 1,008 shares to cover tax obligations related to vested restricted stock units.

Summary

• Jesse Griffith, Chief Operations Officer of Red Robin Gourmet Burgers Inc. (RRGB), sold 1,008 shares of common stock on April 6, 2026.
• The sale was conducted through automatic 'sell-to-cover' transactions to satisfy tax withholding obligations and fees associated with the vesting of 2,610 time-based restricted stock units.
• These units were originally granted on April 3, 2023, under the company's 2017 Performance Incentive Plan.
• The shares were sold at a price of $3.029 per share, totaling $3,058.87.
• Following the transaction, Griffith beneficially owns 37,818 shares, which includes 20,738 shares still subject to vesting and forfeiture restrictions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The sale was mandatory for tax purposes and does not indicate a negative outlook on the company's future by the executive.

Positives

• The transaction was an automatic 'sell-to-cover' to manage tax obligations, indicating a pre-planned and non-discretionary event.
• The executive still holds a significant number of shares (37,818), with a substantial portion (20,738) still subject to vesting, showing continued commitment.
• The vesting of restricted stock units suggests the company is meeting its performance or tenure-based incentive goals.

Negatives

• A portion of the executive's holdings were sold, reducing their direct ownership, albeit for tax purposes.

Risks

• The filing does not explicitly mention any new risks. However, the underlying reason for the sale (tax withholding on vested RSUs) implies that the company's stock price has appreciated enough for the tax liability to be significant.

Future Outlook

The filing does not contain forward-looking statements or guidance. It is a report of a past transaction.

Management Comments

• The sell-to-cover transactions do not represent discretionary trades by the reporting person.

Industry Context

StockSavvy.ai notes that executive stock sales for tax withholding are common, especially following the vesting of equity awards. The price of $3.029 per share for Red Robin Gourmet Burgers (RRGB) reflects the market valuation at the time of the transaction.

Stakeholder Impact

• Shareholders: The sale is a small portion of the executive's holdings and is for tax purposes, so it is unlikely to have a significant impact on the share price.
• Employees: The vesting of RSUs indicates a functioning incentive program for management.
• Management: The transaction fulfills tax obligations related to compensation.

Next Steps

• The reporting person will continue to hold the remaining 37,818 shares, including those subject to vesting.
• The company will continue to operate under its 2017 Performance Incentive Plan for future equity awards.

Key Dates

Keywords

Red Robin Gourmet Burgers, RRGB, Form 4, Insider Trading, Stock Sale, Restricted Stock Units, Tax Withholding, Executive Compensation, Beneficial Ownership