Company: RRGB
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001104659-25-038610
Chunk: 19

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 19
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 year adjustments to base salary, short-term incentive targets, or long-term incentive targets for our named executive officers. In 2024, the Compensation Committee made limited year over year adjustments, taking the compensation actions described below. Base Salary The Compensation Committee made year over year market adjustments to the base salaries of the following named executive officers in 2024: • Ms. Mussetter received a base salary increase from $410,000 to $420,000, effective March 1, 2024; and • Mr. Wilson received a base salary increase from $425,000 to $475,000, effective July 15, 2024. Short-Term Performance-Based Incentive In 2024, Adjusted EBITDA remained the primary measure of our short-term incentive (STI) program, at 85% weighting (with 60% based on annual Adjusted EBITDA and 25% based on a cumulative quarterly Adjusted EBITDA). Relative Guest Traffic (percent 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) replaced achievement of G&A Expenses for the remaining 15% weighting. Additionally, in 2024, the STI offered a “kicker” of up to an additional 25% of target STI award if annual Adjusted EBITDA is equal to or greater than 120% of target. Individual targets are based on market competitiveness, individual performance, and growth in roles, and serve to increase stockholder alignment and increase the portion of “at risk” pay. In 2024, the Compensation Committee approved increases to the STI target value for the following named executive officer: • Mr. Hart’s annual STI target as a percentage of salary increased from 100% to 135%. Long-Term Performance-Based Incentive In 2024, the structure of our long-term incentive (LTI) program opportunities for our named executive officers again consisted of performance stock units (PSUs) (50% weight) and RSUs (50% weight). The LTI program continued to use relative TSR as a pre-established performance target for a three-year cumulative performance period. Individual targets are based on market competitiveness, individual performance, and growth in roles, and serve to increase stockholder alignment, increase the portion of “at risk” pay, and enhance retention. In 2024, the Compensation Committee approved increases to the LTI target value for the following named executive officer: • Mr