Jonathan A. Muhtar - Feb 18, 2022 Form 4 Insider Report for RED ROBIN GOURMET BURGERS INC (RRGB)

Signature
/s/ Michael L. Kaplan, Attorney-in-Fact
Stock symbol
RRGB
Transactions as of
Feb 18, 2022
Transactions value $
-$2,907
Form type
4
Date filed
2/23/2022, 03:40 PM
Previous filing
May 21, 2021
Next filing
Mar 17, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RRGB Common Stock Tax liability -$2.91K -170 -0.45% $17.10 37.5K Feb 18, 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 13,559 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 608 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 608 shares, the reporting person sold 170 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 19,328 shares subject to vesting and forfeiture restrictions.