ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
Appointment of Cheri Kinder as Chief Accounting Officer
On June 23, 2022, Red Robin Gourmet Burgers, Inc. (the "Company") appointed
Cheri Kinder to serve as the Company's Vice President and Chief Accounting
Officer. Ms. Kinder will report to Lynn S. Schweinfurth, the Company's Chief
Financial Officer and Executive Vice President. Prior to joining the Company,
Cheri Kinder served as controller and chief accounting officer for the
Texas-based Fiesta Restaurant Group, Inc. Ms. Kinder joined the Fiesta team in
2013 as director of external reporting and was promoted to controller in 2016,
then to chief accounting officer and controller in 2018. She served as interim
chief financial officer from January 2019 to September 2019. Ms. Kinder was
responsible for oversight and direction of all areas of accounting. Ms. Kinder
also previously held accounting roles with American Airlines Inc. and CVS
Caremark Corporation. She is a certified public accountant.
In connection with her appointment, Ms. Kinder will receive an annual base
salary of $255,000 and an automobile allowance of $9,000 annually. She will be
eligible for an annual bonus in accordance with the Company's Annual Corporate
Bonus Plan with a target opportunity of 35% of her annual base salary, prorated
for 2022 based on her date of hire, with her actual bonus determined following
the conclusion of each fiscal year based on the achievement of specific Company
targets established annually by the Company's board of directors. Ms. Kinder
will also be eligible to participate in the Company's Long-Term Incentive (LTI)
plan with a target opportunity equal to 50% of her annual base salary, and on
July 1, 2022 will receive an initial LTI award with a target value of $65,000.
Ms. Kinder will also receive an initial grant of Restricted Stock Units with a
target value of $50,000 and grant date of July 1, 2022.
As it does with all directors and officers, the Company has entered into an
indemnification agreement with Ms. Kinder. The indemnification agreement
requires the Company to indemnify Ms. Kinder, to the fullest extent permitted by
Delaware law, for certain liabilities to which she may become subject as a
result of her affiliation with the Company. See the Company's Form of
Indemnification Agreement filed with the Securities and Exchange Commission on
July 12, 2002 as Exhibit 10.20 to the Company's Registration Statement on Form
S-1/A.
There are no arrangements or understandings between Ms. Kinder and any other
persons, pursuant to which she was appointed as Chief Accounting Officer, no
family relationships among any of the Company's directors or executive officers
and Ms. Kinder, and she has no direct or indirect interest in any transaction
required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated
under the Securities Act of 1933, as amended.
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