Form 4: Red Robin's Chief Legal Officer Sells Shares to Cover Tax Obligations

Sarah A. Mussetter, Chief Legal Officer of Red Robin Gourmet Burgers Inc., sold shares to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On March 14, 2025, Sarah A. Mussetter, the Chief Legal Officer of Red Robin Gourmet Burgers Inc. (RRGB), sold 1,354 shares of common stock at a weighted average price of $4.46.
• These shares were sold to cover tax withholding obligations and fees arising from the vesting of 8,813 time-based restricted stock units granted on March 13, 2024.
• On March 17, 2025, Mussetter sold an additional 1,295 shares at a weighted average price of $4.39 for the same purpose.
• After these transactions, Mussetter beneficially owns 57,961 shares, including 37,269 time-based restricted stock units subject to vesting and forfeiture restrictions.
• The sales were executed automatically as 'sell-to-cover' transactions and do not represent discretionary trades by Mussetter.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing relates to routine stock sales for tax purposes and doesn't indicate any significant change in the executive's outlook on the company.

Industry Context

Form 4 filings are a routine part of the US stock market, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Sell-to-cover transactions are a common practice among executives receiving stock-based compensation.
• The volume of shares sold is relatively small compared to the total outstanding shares of Red Robin, suggesting it's unlikely to have a significant impact on the stock price.
• Similar transactions are regularly reported by executives at comparable restaurant chains such as Darden Restaurants (DRI) and Brinker International (EAT).

Stakeholder Impact

• The transactions are unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors as they are routine and relatively small in scale.

Key Dates