RED ROBIN GOURMET BURGERS INC

Red Robin Gourmet Burgers, Inc. announced that its Board of Directors increased its size from seven to eight members. Michael Kappitt has been appointed to fill the new vacancy, effective July 24, 2026, and will serve as an independent director. Mr. Kappitt brings extensive experience from the quick-service restaurant industry, having previously served as Chief Operating and Insights Officer at Subway and in leadership roles at Bloomin' Brands, Inc.

Red Robin Gourmet Burgers, Inc. announced the expansion of its Board of Directors from seven to eight members. Michael Kappitt has been appointed to fill the newly created vacancy, with his term effective July 24, 2026. Mr. Kappitt, who currently serves as Chief Operating and Insights Officer at Subway, brings extensive experience from the restaurant industry, including prior leadership roles at Bloomin' Brands. He will serve as an independent director and be compensated according to the company's standard non-employee director policies.

Red Robin Gourmet Burgers, Inc. announced two refranchising agreements to sell a total of 86 company-owned restaurants for $72.5 million. The first agreement is with Op Burgers, LLC for 69 restaurants across eight states for $62.5 million, and the second is with Kuber Oregon, LLC and Kuber Washington, LLC for 17 restaurants in Oregon and Washington for $10 million. These transactions are part of the company's 'First Choice Plan' and the net proceeds will be used to reduce outstanding indebtedness and support refinancing priorities. The company expects these deals, along with a previously announced transaction, to generate approximately $96 million in total.

Red Robin Gourmet Burgers, Inc. announced the sale of 30 company-owned restaurants in Washington and Idaho to Evergreen Dining LLC for $23.5 million in cash. This divestment is part of the company's "First Choice Plan" to strengthen its balance sheet and improve financial flexibility. The proceeds will primarily be used to reduce outstanding debt. The divested units will continue to operate as franchised Red Robin locations under Evergreen Dining.

Red Robin Gourmet Burgers Inc. reported a net loss of $(2.18) million for the first quarter of fiscal 2026, a decline from a net income of $1.25 million in the same period last year. Total revenues also decreased to $378.26 million from $392.35 million year-over-year. The company also terminated its $40.0 million at-the-market equity offering program and saw an increase in asset impairment and restaurant closure costs.

Red Robin Gourmet Burgers, Inc. reported a net loss of $(2.2) million, or $(0.12) per diluted share, on total revenues of $378.3 million for the fiscal first quarter ended April 19, 2026. Comparable restaurant revenue decreased by 0.6%. Despite the revenue decline, the company achieved a 50 basis point improvement in restaurant level operating profit margin to 14.8% and reaffirmed its fiscal 2026 guidance, citing momentum from its "First Choice" strategic plan.

Red Robin Gourmet Burgers, Inc. announced that Sarah A. Mussetter has resigned from her positions as Chief Legal Officer and Secretary of the company. Her resignation will be effective on May 15, 2026. Ms. Mussetter will continue in her role to assist with the transition of her responsibilities until her departure.

Red Robin Gourmet Burgers, Inc. announced the appointment of Mark Graff as Chief Financial Officer, effective May 4, 2026. Mr. Graff will assume the roles of principal financial officer and principal accounting officer on May 31, 2026, succeeding interim CFO Christopher Meyer, whose service concludes on the same date. Graff brings extensive experience from Bloomin’ Brands, where he most recently served as President of Bonefish Grill and Fine Dining. His compensation package includes an annual base salary of $500,000, a target annual bonus of 75% of his base salary, and an equity inducement award with a target value of 120% of his base salary for the 2026 fiscal year.