Red Robin Gourmet Burgers, Inc. Reports Inducement Grant under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) announced the grant of an inducement award to Todd Wilson, appointed as Executive Vice President and Chief Financial Officer, effective November 14, 2022. Wilson received 45,395 restricted stock units, vesting in three equal annual installments starting one year from the grant date. The award is aligned with the Company's 2017 Performance Incentive Plan, reflecting Red Robin's commitment to retaining leadership talent in the competitive casual dining industry.

Positive

• Grant of 45,395 restricted stock units to CFO Todd Wilson enhances executive retention.
• Aligns with 2017 Performance Incentive Plan, supporting long-term company strategy.

Negative

• None.

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Red Robin Gourmet Burgers, Inc., (Nasdaq: RRGB), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today announced the grant of an inducement award to Todd Wilson, effective November 14, 2022, in connection with his appointment as the Company’s Executive Vice President and Chief Financial Officer.

As part of the inducement grant, Mr. Wilson received 45,395 restricted stock units, which will vest in three substantially equal annual installments beginning on the first anniversary of the grant date. The award is subject to same terms and conditions of the Company’s 2017 Performance Incentive Plan as if the award was granted under such plan.

About Red Robin Gourmet Burgers, Inc. (Nasdaq: RRGB)

Red Robin Gourmet Burgers, Inc. (www.redrobin.com), is a casual dining restaurant chain founded in 1969 that operates through its wholly-owned subsidiary, Red Robin International, Inc., and under the trade name, Red Robin Gourmet Burgers and Brews. We believe nothing brings people together like burgers and fun around our table, and no one makes moments of connection over craveable food more memorable than Red Robin. We serve a variety of burgers and mainstream favorites to Guests of all ages in a casual, playful atmosphere. In addition to our many burger offerings, Red Robin serves a wide array of salads, appetizers, entrees, desserts, signature beverages and Donatos® pizza at select locations. It's now easy to enjoy Red Robin anywhere with online ordering available for to-go, delivery and catering, or you can download our new app for easy customization, access to the Red Robin Royalty® dashboard and more. There are more than 520 Red Robin restaurants across the United States and Canada, including those operating under franchise agreements. Red Robin… YUMMM®!

View source version on businesswire.com: https://www.businesswire.com/news/home/20221114006114/en/

For media relations questions:

Joanna Kaufman, Red Robin Gourmet Burgers, Inc.

jkaufman@redrobin.com

(410) 458-2308

For investor relations questions:

Raphael Gross, ICR

(203) 682-8253

Source: Red Robin Gourmet Burgers, Inc.

FAQ

What was announced by Red Robin on November 14, 2022?

Red Robin announced the grant of an inducement award to Todd Wilson as he was appointed CFO.

How many restricted stock units did Todd Wilson receive?

Todd Wilson received 45,395 restricted stock units as part of his inducement award.

What are the vesting terms for Todd Wilson's restricted stock units?

The stock units will vest in three equal annual installments beginning on the first anniversary of the grant date.

How does the inducement award relate to Red Robin's Performance Incentive Plan?

The award is subject to the same terms and conditions as Red Robin's 2017 Performance Incentive Plan.

Who can be contacted for investor relations at Red Robin?

Raphael Gross at ICR can be contacted for investor relations inquiries.