Company: RRGB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001171759-25-000012
Chunk: 71

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 71
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 expenses.

On August 9, 2018, the Company's Board of Directors authorized the Company's current share repurchase program of up to a total of $75 million of the Company's common stock. The share repurchase authorization will terminate upon completing repurchases of $75 million of common stock unless otherwise terminated by the board. Pursuant to the repurchase program, purchases may be made from time to time at the Company's discretion and the Company is not obligated to acquire any particular amount of common stock. From the date of the current program approval through December 29, 2024, we have repurchased a total of 1,088,588 shares at an average price of $15.18 per share for an aggregate amount of $16.5 million. The Company completed no share repurchases in fiscal 2024 and $10.0 million of share repurchases during fiscal 2023. Accordingly, as of December 29, 2024, we had $58.5 million of availability under the current share repurchase program. Our Credit Agreement limits our ability to repurchase shares to certain conditions set forth by the lenders in the Credit Facility. 

Contractual Obligations

The following table summarizes the amounts of payments due under specified contractual obligations as of December 29, 2024 (in thousands):

 Payments Due by Period Total20252026 - 20272028 - 2029ThereafterLong-term debt obligations(1)$242,147 $23,412 $218,735 $— $— Finance lease obligations(2)9,425 1,432 2,750 2,068 3,175 Operating lease obligations(3)570,708 82,159 148,116 116,130 224,303 Purchase obligations(4)142,086 32,835 52,594 38,675 17,982 Other non-current liabilities(5)1,742 102 128 55 1,457 Total contractual obligations$966,108 $139,940 $422,323 $156,928 $246,917 

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(1)  Long-term debt obligations primarily represent minimum required principal payments under our existing Credit Agreement as of December 29, 2024, including estimated interest of $52.7 million based on a 12.21% average borrowing interest rate.

(2)  Finance lease obligations include interest of $1.7