Company: RRGB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001171759-25-000028
Chunk: 14

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 of unvested stock-based compensation by executive leadership. In addition, the Company incurred severance costs primarily related to a reduction in force of Team Members of approximately $1.3 million during the second quarter of fiscal 2025. During the second quarter and year to date periods of fiscal 2024, the Company incurred severance costs of $0.1 million and $1.1 million, respectively, primarily associated with a reduction in force of Team Members.As of July 13, 2025, $4.3 million is included in Accrued payroll and payroll related liabilities in the condensed consolidated balance sheet related to the reduction in force and executive transition costs described above. Asset Disposal and OtherAsset disposal and other primarily relates to the closure of a corporate office location, asset disposals, strategic projects and other non-recurring items.

6. Borrowings

Borrowings as of July 13, 2025 and December 29, 2024 are summarized below (in thousands):July 13, 2025VariableInterest RateDecember 29, 2024VariableInterest RateRevolving line of credit$2,500 11.94 %$20,000 12.03 %Term loan$166,701 12.08 %$169,470 12.21 %Total borrowings169,201 189,470 Less: unamortized debt issuance costs and discounts6,122 7,829 Long-term debt$163,079 $181,641 Revolving line of credit unamortized deferred financing charges:$986 $1,298 Credit Facility

10

On March 4, 2022, the Company replaced its prior amended and restated credit agreement (the "Prior Credit Agreement") with a new credit agreement (the "Credit Agreement") by and among the Company, Red Robin International, Inc., as the borrower, the lenders from time to time party thereto, the issuing banks from time to time party thereto, Fortress Credit Corp., as Administrative Agent and as Collateral Agent and JPMorgan Chase Bank, N.A., as Sole Lead Arranger and Sole Bookrunner. As amended, the five-year $240.0 million Credit Agreement currently provides for a $40.0 million revolving line of credit and a $200.0 million term loan (collectively, the "Credit Facility"). The borrower maintains the option to increase the Credit Facility in the future,