Michael Kaplan - 18 Feb 2022 Form 4 Insider Report for RED ROBIN GOURMET BURGERS INC (RRGB)

Signature
/s/ Michael L. Kaplan
Issuer symbol
RRGB
Transactions as of
18 Feb 2022
Net transactions value
-$1,607
Form type
4
Filing time
23 Feb 2022, 15:43:05 UTC
Previous filing
21 May 2021
Next filing
17 Mar 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RRGB Common Stock Tax liability $1,607 -94 -0.42% $17.10 22,498 18 Feb 2022 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 19, 2019, the reporting person received a grant of performance share units (PSUs) representing 7,486 shares of the issuer's common stock (at target) under the issuer's 2017 Performance Incentive Plan, as amended. The PSUs cliff vest at the end of a three year performance cycle with the number of PSUs earned determined based on achievement of performance objectives approved by the issuer's Compensation Committee for each year in the performance cycle. On February 5, 2020, the issuer's Compensation Committee determined that the objectives for the first tranche were achieved, resulting in 335 shares being earned by the reporting person, as previously reported. No shares were earned with respect to the second and third tranches. In connection with the vesting of and issuance of such 335 shares, the reporting person sold 94 of such shares to the issuer to satisfy tax withholding obligations. The sale 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, the sale is exempt from Section 16(b) of the Act pursuant to Rule 16b-3(e) promulgated thereunder.
F2 Includes 12,354 shares subject to vesting and forfeiture restrictions.