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RED ROBIN GOURMET BURGERS INC·4

Mar 24, 7:37 PM ET

Griffith Jesse 4

Research Summary

AI-generated summary

Updated

Red Robin (RRGB) COO Jesse Griffith Receives Phantom RSUs, Sells Shares

What Happened Jesse Griffith, Chief Operations Officer of Red Robin Gourmet Burgers (RRGB), was granted 38,636 Phantom Restricted Stock Units (Phantom RSUs) on March 23, 2026. At the same time period he had two dispositions: an open-market sale of 839 shares on March 23, 2026 at $3.12 per share for $2,618, and an issuer-withheld disposition of 3,284 shares on March 24, 2026 at $3.08 per share for $10,115 to satisfy tax withholding — a total of 4,123 shares disposed for approximately $12,733. The withholding/sell-to-cover actions were automatic and not discretionary.

Key Details

  • Transaction dates and prices:
    • 2026-03-23: Open-market sale — 839 shares @ $3.12 (single transaction) = $2,618. (F2)
    • 2026-03-24: Issuer withholding/sell-to-cover — 3,284 shares @ $3.08 = $10,115. (F1, F3)
    • 2026-03-23: Grant — 38,636 Phantom RSUs (derivative award, $0 reported). (F5)
  • Shares owned after transaction: the filing does not show total beneficial ownership; it notes 23,348 shares are subject to vesting/forfeiture. (F4)
  • Notable footnotes:
    • The 3,284-share disposition was a withholding to cover taxes related to vesting (approved under Rule 16b-3 and exempt from Section 16(b)). (F3)
    • The sell-to-cover transactions were automatic and not discretionary. (F1)
    • Phantom RSUs give a contingent right to receive one share (or cash equivalent) at vesting; one‑third of the grant vests each year over three years. (F5)
  • Filing: Form 4 filed 2026-03-24 reporting the 3/23–3/24 transactions — appears timely (within the usual two-business-day reporting window).

Context

  • Phantom RSUs are a form of deferred compensation (right to shares or cash on vesting) and are different from immediate stock purchases. Vesting schedules determine when value is realized.
  • Sell-to-cover and tax-withholding disposals are routine administrative actions and are not generally viewed as a strong signal of insider sentiment; small open-market sales (here ≈$2.6K) are also limited in informational value. Purchases typically carry more weight for bullish signals.