Red Robin chief legal officer sells $11,723 in stock

Published 19/03/2025, 01:32
Red Robin chief legal officer sells $11,723 in stock

Sarah A. Mussetter, Chief Legal Officer at Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB), a casual dining chain with a market capitalization of $74.41 million and currently trading at $4.26, recently sold shares of the company. According to InvestingPro analysis, the company’s financial health score is rated as WEAK, with the stock showing significant volatility in recent trading. According to a filing with the Securities and Exchange Commission, Mussetter sold a total of 2,649 shares in two separate transactions. The sales occurred on March 14 and March 17, 2025, with share prices ranging from $4.39 to $4.46. The total value of the transactions amounted to approximately $11,723.

These transactions were conducted as "sell-to-cover" sales, designed to cover tax withholding obligations and fees due to the vesting of restricted stock units granted to Mussetter in March 2024. Following these sales, Mussetter retains ownership of 57,961 shares, which include 37,269 time-based restricted stock units subject to vesting and forfeiture conditions.

In other recent news, Red Robin Gourmet Burgers Inc. reported its fourth-quarter 2024 earnings, highlighting a significant shortfall in earnings per share (EPS) and revenue compared to forecasts. The company posted an EPS of -0.94, missing the expected -0.29, and reported revenue of $258.2 million, falling short of the anticipated $285.62 million. Despite these misses, Red Robin’s stock experienced a notable rebound in aftermarket trading. The company has announced plans to close 10-15 underperforming restaurants in 2025 as part of its strategic realignment. Additionally, Red Robin has introduced new menu items and operational updates aimed at future growth, with a focus on enhancing guest engagement and optimizing operating expenses. The company forecasts a revenue range of $1.225 billion to $1.250 billion for 2025 and anticipates achieving an adjusted EBITDA of $60-$65 million. Analyst firms have yet to issue new ratings following these announcements, but investor interest remains centered on the company’s strategic initiatives and future guidance.

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