Red Robin (RRGB) COO shares sold automatically to cover RSU vesting taxes
Rhea-AI Filing Summary
RED ROBIN GOURMET BURGERS INC Chief Operations Officer Jesse Griffith reported an automatic sale of 1,402 shares of common stock at $3.2108 per share. The shares were sold by the company on his behalf to cover tax withholding obligations and fees arising from the vesting of 3,497 time-based restricted stock units granted on March 13, 2024 under the 2017 Performance Incentive Plan. Footnotes clarify these sell-to-cover transactions were not discretionary trades by Griffith. Following the transaction, he directly holds 42,949 shares, including 34,160 time-based restricted stock units that remain subject to vesting and forfeiture restrictions.
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Insights
Routine, non-discretionary tax sell-to-cover tied to RSU vesting.
The filing shows 1,402 Red Robin common shares sold at $3.2108 per share for Chief Operations Officer Jesse Griffith. Footnotes state the issuer executed these sales automatically to cover tax withholding and related fees from the vesting of 3,497 time-based RSUs.
Because the transactions were automatic sell-to-cover and explicitly described as not discretionary, they carry little informational value about the executive’s view of the stock. After this event, Griffith still holds 42,949 shares directly, including 34,160 unvested RSUs subject to vesting and forfeiture conditions, indicating a continuing equity stake aligned with future company performance.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 1,402 | $3.2108 | $5K |
Footnotes (3)
- F1. Represents the sale of shares by the issuer on behalf of the reporting person pursuant to automatic "sell-to-cover" transactions to cover tax withholding obligations and fees arising due to the vesting of 3,497 time-based restricted stock units that were granted to the reporting person on March 13, 2024 under the issuer's 2017 Performance Incentive Plan, as amended. These sell to cover transactions do not represent discretionary trades by the reporting person.
- F2. The price reported is the actual sale price of the shares. The shares were sold in a single transaction at $3.2108 per share.
- F3. Includes 34,160 time-based restricted stock units subject to vesting and forfeiture restrictions.
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