Griffith Jesse 4
4 · RED ROBIN GOURMET BURGERS INC · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
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.
Insider Transaction Report
Form 4
Griffith Jesse
Chief Operations Officer
Transactions
- Sale
Common Stock
[F1][F2]2026-03-23$3.12/sh−839$2,618→ 42,110 total - Tax Payment
Common Stock
[F3][F4]2026-03-24$3.08/sh−3,284$10,115→ 38,826 total - Award
Phantom Restricted Stock Unit
[F5]2026-03-23+38,636→ 38,636 totalExercise: $0.00→ Common Stock (38,636 underlying)
Footnotes (5)
- [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 2,191 time-based restricted stock units that were granted to the reporting person on March 20, 2023 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 $3.12 per share.
- [F3]In connection with the vesting of 8,621 time-based restricted stock units that were granted on March 24, 2025, under the issuer's 2024 Performance Incentive Plan, as amended, the issuer withheld 3,284 of such shares to satisfy tax withholding obligations. The transaction was approved by the issuer's Compensation Committee in accordance with Rule 16b-3(d)(1) of the Exchange Act (the "Act"), and as such, is exempt from Section 16(b) of the Act pursuant to Rule 16b-3(e) promulgated thereunder.
- [F4]Includes 23,348 shares subject to vesting and forfeiture restrictions.
- [F5]Represents a grant of Phantom Restricted Stock Units ("Phantom RSUs") on March 23, 2026, under the issuer's 2024 Performance Incentive Plan. Each Phantom RSU represents the contingent right to receive, upon vesting, one share of the issuer's common stock or the cash equivalent of one share of the issuer's common stock on the date of vesting, or a combination thereof, at the issuer's discretion. One third of the Phantom RSUs are scheduled to vest on each of the first, second, and third anniversaries of the date of grant.
Signature
/s/ Carrie Etherton, Attorney-in-Fact|2026-03-24