Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) reported insider activity involving its chief legal officer this week that included an open-market sale, a share withholding for tax obligations and a sizable award of phantom units.
According to a Form 4 filed with the Securities and Exchange Commission, Sarah A. Mussetter sold 2,913 shares of the company’s common stock on March 23, 2026. The sale price was $3.12 per share, producing gross proceeds of $9,088.
The filing also shows that on March 24, 2026, 8,391 shares were withheld by the issuer to cover tax obligations associated with the vesting of restricted stock units. The price recorded for that withholding transaction was $3.08 per share, which corresponds to a total value of $25,844.
On the same March 24 report, Mussetter was granted 69,350 Phantom Restricted Stock Units under Red Robin’s 2024 Performance Incentive Plan. After the sale and withholding transactions, Mussetter’s direct ownership in the company stands at 98,497 shares, of which 47,174 are reported as subject to vesting and forfeiture restrictions.
These insider transactions come while Red Robin’s stock trades near a 52-week low of $2.50 and has declined 56% over the past six months. The market context included a recent quarterly report that beat expectations: for the fourth quarter of 2025 the company posted earnings per share of -0.41, versus consensus expectations of -0.59, representing a 30.51% surprise. Revenue for the quarter was $269 million compared with expected revenue of $264.13 million.
Analytical coverage referenced in the filings indicates that InvestingPro’s analysis lists the stock on a Most Undervalued list and notes the company is among more than 1,400 U.S. equities covered by its Pro Research Reports.
The filings and the company’s quarterly results provide the factual detail of the transactions and the recent operating performance. The Form 4 entries document the sale, withholding and grant activity and the company disclosures provide the comparable quarter results used in analyst evaluations.