Robin P. Selati - Jun 14, 2023 Form 4 Insider Report for Ruths Hospitality Group, Inc. (RUTH)

Role
Director
Signature
/s/ Marcy Norwood Lynch, Under Power of Attorney
Stock symbol
RUTH
Transactions as of
Jun 14, 2023
Transactions value $
-$481,600
Form type
4
Date filed
6/14/2023, 05:16 PM
Previous filing
Mar 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RUTH Common Stock Disposition pursuant to a tender of shares in a change of control transaction -$482K -22.4K -100% $21.50 0 Jun 14, 2023 Direct F1
transaction RUTH Common Stock Disposed to Issuer -10.5K -100% 0 Jun 14, 2023 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Robin P. Selati is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Pursuant to that certain Agreement and Plan of Merger, dated as of May 2, 2023 (the "Merger Agreement"), by and among Darden Restaurants, Inc., Ruby Acquisition Corporation and Ruth's Hospitality Group, Inc. (the "Company"), these shares of common stock were tendered prior to the Offer Expiration Time (as defined in the Merger Agreement) and disposed of at the Effective Time (as defined in the Merger Agreement) in exchange for the right to receive a cash payment of $21.50, without interest and less any applicable withholding taxes.
F2 Pursuant to the Merger Agreement, each of the Company's restricted stock units (the "RSUs") outstanding, whether vested or unvested as of immediately prior to the Effective Time, automatically became fully vested, cancelled and converted into and became the right to receive an amount in cash, without interest thereon (but subject to applicable withholding), equal to the product obtained by multiplying (i) the Merger Consideration (as defined in the Merger Agreement) by (ii) the total number of shares of Company common stock subject to such RSU.