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  4. [Form 4] Red Robin Gourmet Burgers Inc Insider Trading Activity

Red Robin insiders increase indirect stake to 1.67M shares after buys

Filing Impact
(Moderate)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Christopher R. Martin and Jumana Capital Investments LLC filed a joint Form 4 reporting open-market purchases of Red Robin Gourmet Burgers Inc. (RRGB) common stock on 08/21/2025 and 08/22/2025. On 08/21/2025 they purchased 18,351 shares at a weighted average price of $6.1369, bringing reported beneficial ownership to 1,633,257 shares (indirectly, by Jumana Capital). On 08/22/2025 they purchased 34,649 shares at a weighted average price of $6.2874, increasing reported beneficial ownership to 1,667,906 shares (indirect). The filing is joint by Christopher R. Martin (director) and Jumana Capital; the report notes 51,946 time-based restricted stock units subject to vesting and forfeiture restrictions.

Positive

  • Increased disclosed stake via open-market purchases on 08/21/2025 and 08/22/2025
  • Transparent weighted-average pricing disclosed with willingness to provide per-trade details upon request
  • Joint filing and disclaimers clarify indirect ownership and Section 13(d) group status

Negative

  • None.

Insights

TL;DR: Insiders modestly increased their indirect stake in RRGB through small open-market purchases at low single-digit dollar prices.

The reported purchases on 08/21 and 08/22 add 53,000 total shares acquired across two days at weighted average prices of $6.1369 and $6.2874. Beneficial ownership attributable to Jumana Capital rose to 1,667,906 shares. These transactions appear to be routine open-market buying rather than an acquisition of control; the magnitude of the increase is small relative to the existing >10% position disclosed. The weighted-average price ranges are disclosed in footnotes, indicating multiple executions within narrow price bands.

TL;DR: Joint filing by an individual director and an investment vehicle correctly discloses indirect holdings and restricted units.

The Form 4 is filed jointly by Christopher R. Martin and Jumana Capital Investments LLC and discloses both indirect beneficial ownership and time-based restricted stock units. Footnotes clearly state weighted average prices and the Reporting Persons' disclaimer of ownership of securities held by other Section 13(d) group members. From a governance and disclosure perspective the form provides the necessary detail on transaction dates, quantities, and the nature of indirect ownership.

Insider Martin Christopher Ross, Jumana Capital Investments LLC
Role Director, 10% Owner | 10% Owner
Bought 53,000 shs ($330K)
Type Security Shares Price Value
Purchase Common Stock 34,649 $6.2874 $218K
Purchase Common Stock 18,351 $6.1369 $113K
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 1,667,906 shares (Indirect, By: Jumana Capital Investments LLC); Common Stock — 51,946 shares (Direct)
Footnotes (5)
  1. F1. This Form 4 is filed jointly by Christopher R. Martin and Jumana Capital Investments LLC ("Jumana Capital") (collectively, the "Reporting Persons"). Each of the Reporting Persons are members of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock. The Reporting Persons disclaim beneficial ownership of the securities of the Issuer owned directly by other members of the Section 13(d) group and this report shall not be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purpose. Further, each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein.
  2. F2. Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.0967 to $6.1500, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
  3. F3. Represents shares of Common Stock owned directly by Jumana Capital. Mr. Martin, as Manager of Jumana Capital, may be deemed to beneficially own the shares of Common Stock owned directly by Jumana Capital.
  4. F4. Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.2138 to $6.3069, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
  5. F5. Includes 51,946 time-based restricted stock units subject to vesting and forfeiture restrictions.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What transactions did RRGB insiders report on 08/21–08/22/2025?
They reported open-market purchases of 18,351 shares on 08/21/2025 at a weighted average price of $6.1369 and 34,649 shares on 08/22/2025 at a weighted average price of $6.2874.

How many RRGB shares are beneficially owned after the reported transactions?
Following the reported transactions, beneficial ownership attributable to Jumana Capital is reported as 1,667,906 shares (indirect ownership).

Who filed the Form 4 for RRGB and what is their relationship to the company?
The Form 4 was filed jointly by Christopher R. Martin (a director) and Jumana Capital Investments LLC; both are members of a Section 13(d) group and identified as >10% owners.

Are any restricted shares or units disclosed in the filing for RRGB?
Yes, the filing notes 51,946 time-based restricted stock units that are subject to vesting and forfeiture restrictions.

Do the footnotes disclose per-trade price ranges for the purchases?
Yes, the filing discloses weighted average price ranges and states the purchases occurred across multiple transactions with ranges of $6.0967–$6.1500 and $6.2138–$6.3069, and offers to provide per-trade details upon request.
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Martin Christopher Ross
(Last) (First) (Middle)
10000 E GEDDES AVE
STE 500
(Street)
ENGLEWOOD CO 80012
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
RED ROBIN GOURMET BURGERS INC [ RRGB ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) X Other (specify below)
See Footnote 1
3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock(1) 08/21/2025 P 18,351 A $6.1369(2) 1,633,257 I By: Jumana Capital Investments LLC(3)
Common Stock(1) 08/22/2025 P 34,649 A $6.2874(4) 1,667,906 I By: Jumana Capital Investments LLC(3)
Common Stock(1) 51,946(5) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
Martin Christopher Ross
(Last) (First) (Middle)
10000 E GEDDES AVE
STE 500
(Street)
ENGLEWOOD CO 80012
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) X Other (specify below)
See Footnote 1
1. Name and Address of Reporting Person*
Jumana Capital Investments LLC
(Last) (First) (Middle)
1717 SAINT JAMES PLACE, SUITE 335
(Street)
HOUSTON TX 77056
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) X Other (specify below)
See Footnote 1
Explanation of Responses:
1. This Form 4 is filed jointly by Christopher R. Martin and Jumana Capital Investments LLC ("Jumana Capital") (collectively, the "Reporting Persons"). Each of the Reporting Persons are members of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock. The Reporting Persons disclaim beneficial ownership of the securities of the Issuer owned directly by other members of the Section 13(d) group and this report shall not be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purpose. Further, each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein.
2. Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.0967 to $6.1500, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
3. Represents shares of Common Stock owned directly by Jumana Capital. Mr. Martin, as Manager of Jumana Capital, may be deemed to beneficially own the shares of Common Stock owned directly by Jumana Capital.
4. Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.2138 to $6.3069, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
5. Includes 51,946 time-based restricted stock units subject to vesting and forfeiture restrictions.
/s/ Christopher R. Martin 08/25/2025
Jumana Capital Investments LLC, By: /s/ Christopher R. Martin, Manager 08/25/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR