Red Robin finalizes severance with ex-CCO Muhtar: $452k salary, COBRA, equity forfeiture

RED ROBIN GOURMET BURGERS INC

Lump-sum cash payment of $452,000 (12 months base salary) payable Jan 6, 2023.
Potential 2022 annual bonus based on actual performance, paid when others receive.
Cash for time-based RSUs that would vest in 2023, valued at $7.50 per unit; unvested equity forfeited.
COBRA premium subsidy for 12 months, life insurance premiums, and $15,000 outplacement.
Subject to 12-month non-compete, non-solicit, non-disparagement, and release of claims.

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