Company: RRGB
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001104659-25-038610
Chunk: 20

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 20
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. Wilson’s annual LTI target as a percentage of salary increased from 120% to 150%. 2024 EXECUTIVE COMPENSATION OUTCOMES Consistent with our commitment to a pay for performance compensation philosophy, based on 2024 performance, the Compensation Committee: ✓ Approved a payout under the annual STI program of 26.64% of the target. While the Company achieved payouts for relative guest traffic growth and Q1 Adjusted EBITDA, it did not achieve the primary threshold goal for Annual Adjusted EBITDA. 27 TABLE OF CONTENTS 1. Annual Adjusted EBITDA (60% weight): performance achievement resulted in an award of 0% of target. 2. Quarterly Adjusted EBITDA (25% weight, broken out into 6.25% per quarter): performance achievement resulted in an award of 90.29% of target for Q1 and 0% of target for Q2, Q3, andQ4. 3. Relative Guest Traffic (15% weight): performance achievement, based upon the percentage change in guest traffic of comparable restaurants in the casual dining segment versus the prior year, as reported by Black Box Intelligence, an independent third party, resulted in an award of 140% of target. ✓ Approved a 0% payout of the PSU award for the 2022-2024 performance period, as relative TSR performance was below the 25th percentile of the 11-Company Peer-Group. ✓ Made no adjustments to in-progress and outstanding STI and LTI awards. See “Compensation Discussion and Analysis— Key Components of our Executive Compensation Program— Incentive-Based Compensation” for further information on the annual performance based and long-term incentive based programs. 28 TABLE OF CONTENTS COMPENSATION PHILOSOPHY COMPENSATION PHILOSOPHY Our executive compensation program is designed to pay for performance and link incentives to current and long-term sustained achievement of Company strategic and financial goals. It encourages our executive officers to think and act like owners, because they are owners and as such are compensated in significant part based on the performance of the Company. PAY OBJECTIVES Our compensation objectives are designed to link incentives and rewards with current and long-term sustained achievement of these goals: • Attracting, retaining, and motivating the best possible executive talent with the experience and leadership skills capable of driving performance and top- and bottom- line growth in sales and profitability; • Creating value for our stockholders by linking executive compensation to the achievement