Company: RRGB
Filing Date: 2025-05-29
Form Type: 10-Q
Source: 0001171759-25-000020
Chunk: 8

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-05-29
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 (in thousands):Sixteen Weeks EndedApril 20, 2025April 21, 2024Basic weighted average shares outstanding17,546 15,554 Dilutive effect of stock options and awards756 — Diluted weighted average shares outstanding18,302 15,554 Awards excluded due to anti-dilutive effect on diluted income (loss) per share2,095 1,422 

5. Other Charges (Gains), net

Other charges (gains), net consisted of the following (in thousands):Sixteen Weeks EndedApril 20, 2025April 21, 2024Gain on sale of restaurant property$(1,137)$(7,425)Restaurant closure costs, net210 175 Severance and executive transition (includes $(225) and $33 of stock-based compensation)880 945 Litigation contingencies12 420 Asset disposal and other, net 711 1,909 Other charges (gains), net$676 (3,976)

8

Gain on Sale of Restaurant PropertyDuring the first quarter of fiscal 2025, the Company sold three restaurant properties for total proceeds of $5.8 million that resulted in a gain, net of expenses of $1.1 million. The net proceeds are included within cash flows from investing activities on the Condensed Consolidated Statements of Cash Flows and were used to pay down long-term debt.During the first quarter of fiscal 2024, the Company sold ten restaurant properties for total proceeds of $23.9 million in a sale-leaseback transaction that resulted in a gain, net of expenses of $7.4 million. The net proceeds are included within cash flows from investing activities on the Condensed Consolidated Statements of Cash Flows.Severance and Executive TransitionDuring the first quarter of fiscal 2025, the Company incurred severance and executive transition costs primarily related to the departure of certain executive officers, and costs associated with changes in leadership positions.During the first quarter of fiscal 2024, the Company incurred severance and executive transition costs primarily related to a reduction in force of Team Members and costs associated with changes in leadership positions.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 April 20, 2025 and December 29, 2024 are summarized below (