Morgan Gerald L. 4

What Happened Gerald L. Morgan, CEO, Executive Vice Chairman and a director of Texas Roadhouse (TXRH), sold 5,000 shares on January 20, 2026 at $196.00 per share, for a total proceeds of $980,000. The sale was reported on Form 4 filed January 22, 2026. This was a sale (not a purchase); sales are often routine dispositions and do not necessarily indicate a change in view about the company.

Key Details

• Transaction date and price: 5,000 shares sold on 2026-01-20 at $196.00 per share.
• Total value: $980,000 (gross proceeds).
• Filing date: Form 4 filed 2026-01-22 (within the standard reporting window; no late filing indicated).
• Method: Sale executed pursuant to a written, non‑discretionary Rule 10b5‑1 stock sale plan (footnote F1).
• Shares owned after transaction: not disclosed in the information provided here.
• Related footnotes: F2–F4 describe restricted stock units (each unit converts to one share) that vest on 2027-01-08 and 2031-01-08; these vesting schedules are noted in the filing but do not change the reported sale.

Context

• A 10b5‑1 plan allows insiders to pre‑arrange trades to avoid questions about timing; such sales can be routine portfolio management rather than a signal about company prospects.
• For retail investors, purchases by insiders can be a stronger bullish signal than routine sales; interpret single sales like this with caution and in the context of other insider activity and company fundamentals.