PACE DAVID 4

What Happened
David Pace, President and CEO of Red Robin Gourmet Burgers, was granted two awards on 2026-03-23: 250,000 time‑based restricted stock units (RSUs) and 250,000 Phantom RSUs (500,000 units total). Both awards were reported at $0.00 (standard for equity awards), so no cash changed hands at grant. The RSUs and Phantom RSUs are contingent rights to receive common stock (or, for Phantom RSUs, cash equivalent or a mix at the company’s discretion) upon vesting.

Key Details

• Transaction date(s): 2026-03-23; Form 4 filed 2026-03-24. Reported as Award/Grant (code A); one grant is noted as a derivative award.
• Award amounts/prices: 250,000 RSUs @ $0.00 and 250,000 Phantom RSUs @ $0.00 (total 500,000 units). Reported acquisition value is $0 due to award form.
• Vesting: RSUs scheduled to vest on the first anniversary of grant; Phantom RSUs scheduled to vest on the second anniversary.
• Footnotes: F1 describes the time‑based RSUs; F3 describes Phantom RSUs (settlement in shares, cash, or combination). F2 notes these 500,000 shares are subject to vesting and forfeiture restrictions.
• Shares owned after transaction: not specified in the excerpt of the filing.
• Timeliness: Filing dated the day after the grants; not indicated as late.

Context
These are compensation grants (not open‑market purchases or sales) and are commonly used to align executive pay with company performance. Phantom RSUs are derivative awards that may be settled in stock or cash at vesting. Because the reported price is $0.00, any future value to the executive will depend on Red Robin’s share price at vesting.