Form 4: Red Robin's Chief Legal Officer Reports Stock Transaction

Sarah A. Mussetter, Chief Legal Officer of Red Robin Gourmet Burgers Inc., reports a transaction involving the withholding of shares to cover tax obligations upon vesting of restricted stock units.

Summary

• On March 20, 2024, Sarah A. Mussetter, Chief Legal Officer of Red Robin Gourmet Burgers Inc. (RRGB), reported a transaction on Form 4.
• The transaction involved the withholding of 1,911 shares of common stock at a price of $6.69 per share to satisfy tax withholding obligations related to the vesting of restricted stock units.
• Following the transaction, Mussetter directly owns 62,434 shares of Red Robin stock, which includes 52,427 time-based restricted stock units subject to vesting and forfeiture restrictions.
• The vesting of the restricted stock units and the subsequent withholding of shares were approved by the issuer's Compensation Committee and are exempt from Section 16(b) of the Exchange Act.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment. It reflects standard compensation practices and insider transactions.

Positives

• The transaction is a routine part of executive compensation and tax obligations.
• The transaction was approved by the issuer's Compensation Committee and is exempt from Section 16(b) of the Exchange Act.

Industry Context

Form 4 filings are a standard part of regulatory compliance for corporate insiders, providing transparency into their transactions in company stock. This filing indicates routine compensation practices.

Stakeholder Impact

• Shareholders are informed about insider transactions, promoting transparency.
• Employees, particularly executives, are affected by the vesting of stock options and related tax obligations.

Key Dates