Business Context and Reporting Period
This Form 8-K filing by Red Robin Gourmet Burgers, Inc. (RRGB) reports a corporate governance event dated January 24, 2024. The filing announces the appointment of a new executive officer to the company's finance leadership team.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on personnel changes and associated compensation arrangements.
Material Changes
The primary material change reported is the appointment of Robyn Arnell Brenden as Chief Accounting Officer, effective January 29, 2024. She will report to Chief Financial Officer Todd Wilson. Ms. Arnell Brenden brings prior experience as Senior Vice President of Finance & Accounting at Leslie's, Inc., and previously held senior accounting roles at CWT, Sprouts Farmers Market, Marriott International, and Starwood Hotels & Resorts.
Compensation and Management Commentary
In connection with her appointment, Ms. Arnell Brenden's compensation package includes the following material elements:
- Base Salary: $350,000 annually.
- Annual Bonus: Target of 50% of base salary, prorated for 2024 based on the hire date, subject to company targets.
- Long-Term Incentive (LTI): Target opportunity equal to 50% of base salary, prorated for 2024.
The company confirmed there are no undisclosed arrangements or family relationships influencing this appointment. Ms. Arnell Brenden is a certified public accountant.
Investor Verification Checklist
- Verify the effective start date of January 29, 2024, for the new Chief Accounting Officer.
- Confirm the reporting line to CFO Todd Wilson.
- Review the specific performance targets for the 2024 bonus and LTI plans in future filings or proxy statements.
- Note that no financial results or guidance are contained in this specific filing.