Company: RRGB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051046
Chunk: 15

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 Stock-based compensation benefit relates primarily to the forfeiture of unvested stock-based compensation by executive leadership. (2) During the forty weeks ended October 5, 2025, Team member severance is primarily associated with a reduction in force, which occurred during the second quarter of fiscal 2025. As of October 5, 2025, $3.7 million is included in Accrued payroll and payroll related liabilities in the condensed consolidated balance sheet related to the executive transition costs described above.

10

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 October 5, 2025 and December 29, 2024 are summarized below (in thousands):October 5, 2025VariableInterest RateDecember 29, 2024VariableInterest RateRevolving line of credit$11,000 11.80 %$20,000 12.03 %Term loan$166,701 11.89 %$169,470 12.21 %Total borrowings177,701 189,470 Less: unamortized debt issuance costs and discounts5,348 7,829 Long-term debt$172,353 $181,641 Revolving line of credit unamortized deferred financing charges$850 $1,298 Credit FacilityOn 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 (the "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, subject to lenders’ participation, by up to an additional $40.0 million in the aggregate on the terms and conditions set forth in the Credit Agreement.The Credit Facility