Form 4: TXRH Chief Growth Officer's Equity Transactions

Texas Roadhouse's Chief Growth Officer, Lloyd Paul Marshall, reported routine equity transactions including RSU vesting, tax-related share disposition, and new RSU grants.

Summary

• Lloyd Paul Marshall, Chief Growth Officer of Texas Roadhouse, Inc. (TXRH), reported equity transactions on January 8, 2026.
• 2,800 restricted stock units (RSUs) vested, converting into common stock.
• 682 shares of common stock were disposed of at a price of $180.79 per share to cover tax withholding obligations related to the RSU vesting.
• Marshall received new grants of restricted stock units: 2,700 units vesting on January 8, 2027, and 9,400 units vesting on January 8, 2028.
• Following these transactions, Marshall directly beneficially owns 10,170 shares of common stock and 12,100 restricted stock units (2,700 + 9,400).

Sentiment

Score: 6

Explanation: Slightly positive due to the new RSU grants, which align executive interests with long-term company performance and retention, despite the routine tax-related share disposition.

Positives

• Grant of 12,100 new restricted stock units (2,700 vesting 01/08/2027 and 9,400 vesting 01/08/2028) aligns the Chief Growth Officer's interests with long-term shareholder value.
• The new RSU grants are part of the Company's 2021 Long Term Incentive Plan, indicating a structured approach to executive compensation and retention.

Negatives

• The disposition of 682 shares of common stock for tax withholding purposes reduces the direct share ownership of the Chief Growth Officer.

Risks

• The vesting of future restricted stock units is subject to the reporting person's continued service with the Company, posing a retention risk if the executive departs.

Future Outlook

The grant of new restricted stock units with vesting dates in January 2027 and January 2028 indicates an expectation of continued service from the Chief Growth Officer and aligns his future compensation with the company's long-term performance.

Industry Context

Executive compensation, particularly through equity awards like restricted stock units, is a common practice in the restaurant and hospitality industry to incentivize long-term performance and retain key talent. These routine transactions reflect standard compensation structures.

Stakeholder Impact

• Shareholders: Minor impact as these are routine insider transactions, reflecting standard executive compensation and retention practices. The new grants align executive interests with long-term shareholder value.
• Employees: No direct impact mentioned, but the executive's continued service is tied to future vesting.

Next Steps

• Vesting of 2,700 restricted stock units on January 8, 2027, subject to continued service.
• Vesting of 9,400 restricted stock units on January 8, 2028, subject to continued service.

Key Dates

Keywords

Texas Roadhouse, TXRH, insider trading, Form 4, restricted stock units, RSU, executive compensation, stock vesting, Chief Growth Officer