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

Meghan Spuler, Chief People Officer of Red Robin Gourmet Burgers Inc., sold shares to cover tax withholding obligations arising from vesting restricted stock units.

Summary

• Meghan Spuler, the Chief People Officer of Red Robin Gourmet Burgers Inc. (RRGB), reported changes in beneficial ownership on March 18, 2025.
• The transactions involved the sale of common stock to cover tax withholding obligations and fees related to the vesting of restricted stock units.
• On March 14, 2025, 812 shares were sold at a weighted average price of $4.46, with individual transactions ranging from $4.41 to $4.51.
• On March 17, 2025, 777 shares were sold at a weighted average price of $4.39, with individual transactions ranging from $4.35 to $4.52.
• Following these transactions, Spuler beneficially owns 18,706 shares of common stock, including 13,797 time-based restricted stock units subject to vesting and forfeiture restrictions.
• The sales were executed by the issuer on behalf of Spuler as automatic 'sell-to-cover' transactions and do not represent discretionary trades.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing stock sales for tax purposes, which is neutral in sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The sale of shares to cover tax obligations is a common practice among executives receiving equity compensation.

Stakeholder Impact

• The sale of shares by a company officer could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates