Delaware
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001-34851
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84-1573084
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification Number)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange
on which registered
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Common Stock,
$0.001 par value |
RRGB
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NASDAQ (Global Select Market)
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Exhibit No.
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Description
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99.1
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RED ROBIN GOURMET BURGERS, INC. | |||
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By:
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/s/ Michael L. Kaplan | |
Michael L. Kaplan | |||
Executive Vice President & Chief Legal Officer | |||
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Temporarily closed dine-in services at substantially all Red Robin-operated restaurants while continuing to provide to-go, delivery and catering choices and ensuring the continuity of the Company’s supply chain;
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Implemented enhanced health and safety protocols across the business, emergency sick pay for hourly Team Members and telecommuting policies for nearly all corporate level employees;
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Meaningfully reduced restaurant level costs and selling, general and administrative expenses, including reducing executive base salaries by twenty percent, effective March 30, 2020, and reducing Board member cash retainer fees by
twenty percent, while continuing to market off-premise opportunities primarily through digital channels;
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Postponing or eliminating all non-essential spending, including capital expenditures for previously planned growth and other projects, including the Company’s continued rollout of Donato’s, restaurant refreshes and IT projects;
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Drew down remaining capacity under the Company’s $300 million credit facility, bringing Red Robin’s cash balance to more than $91 million as of the end of our last fiscal week on March 29, 2020; and
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Suspended share repurchases and terminated the Company’s pre-arranged stock trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
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