Jesse Griffith
RED ROBIN GOURMET BURGERSAbout Jesse Griffith
Jesse Griffith, age 56, was appointed Chief Operations Officer (COO) of Red Robin on October 30, 2025, after joining the company in March 2023 as Senior Vice President of Operations . His background spans operational leadership at Torchy’s Tacos (VP Operations) and California Pizza Kitchen, where he held roles of increasing responsibility; he also previously held senior operations roles at Texas Roadhouse, Quaker Steak & Lube, and Bennigan’s . Company performance metrics used to evaluate executives include Adjusted EBITDA and relative guest traffic for annual incentives, and relative TSR for long-term incentives; 2024 STI paid 26.64% of target and 2022–2024 PSUs paid 0% due to below-peer TSR—underscoring pay-for-performance rigor . Management’s November 2025 outlook cited comparable sales down ~1.2% and Adjusted EBITDA of $7.1–$7.6 million, with commentary attributing recent operational momentum to efficiency and guest focus under the “First Choice” plan .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Red Robin Gourmet Burgers | Senior Vice President, Operations | March 2023 – Oct 2025 | Led day-to-day operations across the company |
| Torchy’s Tacos | Vice President of Operations | Feb 2020 – Feb 2023 | Brand doubled unit growth during his tenure |
| California Pizza Kitchen | Senior operations roles of increasing responsibility | Aug 2012 – Feb 2020 | Multi-year operational leadership in casual dining |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| California Pizza Kitchen Charitable Foundation | Board service | Not disclosed | Community engagement aligned with brand |
| Torchy’s Tacos Charitable Foundation | Board service | Not disclosed | Community engagement aligned with brand |
Fixed Compensation
| Component | Value | Effective Date/Period | Notes |
|---|---|---|---|
| Base Salary | $425,000 | Nov 3, 2025 (Employment Agreement) | Subject to annual review and Compensation Committee approval |
| Target Annual Bonus | 65% of base salary | FY2025 (prorated) | Based on performance criteria; payable by March 15 following fiscal year |
| Long-Term Incentive Target | 70% of base salary | FY2026 | Subject to Company’s LTIP under Board/Comp Committee approval |
Performance Compensation
Company Short-Term Incentive Design and Outcomes (2024)
| Metric | Weighting | Target Definition | Actual Performance | Payout vs Target | Vesting |
|---|---|---|---|---|---|
| Annual Adjusted EBITDA | 60% | Annual plan target | Threshold not achieved | 0% | N/A (cash) |
| Quarterly Adjusted EBITDA | 25% (6.25% per quarter) | Cumulative quarterly targets | Q1: 90.29% of target; Q2–Q4: 0% | Q1 partial payout; others 0% | N/A (cash) |
| Relative Guest Traffic (vs. casual dining peers) | 15% | Black Box Intelligence benchmark | 140% of target | Above target | N/A (cash) |
| STI “Kicker” | Up to +25% if annual EBITDA ≥120% of target | Applies on overachievement | Not applicable (annual EBITDA < threshold) | None | N/A |
Overall 2024 STI payout to NEOs was 26.64% of target, demonstrating negative discretion and threshold discipline .
Company Long-Term Incentive Design and Outcomes
| Component | Weight | Performance Metric | Period | Outcome | Vesting Terms |
|---|---|---|---|---|---|
| Performance Stock Units (PSUs) | 50% | Relative TSR vs peer group | 3-year (e.g., 2022–2024) | 0% payout for 2022–2024 (below 25th percentile of 11-company peer group) | Cliff vest at end of performance period if metrics met |
| Restricted Stock Units (RSUs) | 50% | Service-based | N/A | N/A | Vests ratably over 3 years (grant anniversary) |
| Negative TSR Cap | N/A | Caps PSU payout at target if TSR < 0 | Applies during period | Risk mitigant | Policy feature |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (Form 3) | 43,340 shares beneficially owned; includes 37,657 time-based RSUs subject to vesting and forfeiture |
| Vested vs Unvested | Implied 5,683 common shares and 37,657 unvested RSUs within total beneficial ownership (43,340 − 37,657) |
| Options | None reported on Form 3 (Table II empty) |
| Ownership Guidelines | COO required to own ≥3x base salary in Company stock (value basis via ownership guidelines) |
| Anti-Hedging/Pledging | Executives subject to anti-hedging and anti-pledging policies |
| Clawback | Robust clawback policy for incentive-based compensation upon financial restatement |
| Form 144/POA | Power of Attorney authorizes attorneys-in-fact to file Forms 3/4/5 and Form 144 on his behalf (indicates readiness for compliant insider transactions) |
Employment Terms
| Provision | Key Terms |
|---|---|
| Employment Agreement Date | Effective November 3, 2025 (EX-10.1) |
| Role & Reporting | COO, reporting to CEO, interfacing with Board and committees |
| Employment Nature | At-will; terminable by either party consistent with law |
| Severance Plan Eligibility | Eligible to participate in Executive Severance Plan per 2025 proxy; plan uses double-trigger change-in-control protections |
| Non-Compete / Non-Solicit | During employment and for 12 months post-termination: non-competition, non-solicitation of employees, and non-interference with suppliers/business relations |
| Confidentiality / Nondisparagement | Customary nondisclosure of confidential information and nondisparagement; return of Company property |
| Location | HQ in Englewood, CO; remote work per company policy; primary residence Virginia |
| Ownership Guidelines | Must meet executive ownership guidelines; COO threshold 3x base salary |
| Benefits | Eligible to participate in standard executive benefit plans and ESPP (after one year) |
Investment Implications
- Strong alignment and pay-for-performance: Griffith’s cash incentive targets and LTIP participation are anchored to Adjusted EBITDA, relative guest traffic, and relative TSR; recent outcomes (26.64% STI payout; 0% PSU for 2022–2024) demonstrate rigorous calibration rather than guaranteed pay .
- Retention risk mitigants: 37,657 unvested RSUs and a 12-month non-compete/non-solicit reduce immediate voluntary exit risk, while ownership guidelines at 3x salary and anti-hedging/pledging policies reinforce long-term alignment and disincentivize short-term trading or leverage against shares .
- Change-in-control economics: Participation in the Executive Severance Plan with double-trigger protections limits windfalls from single-trigger events, balancing retention through transactions with shareholder-friendly safeguards; clawback policy further constrains risk-taking linked to incentive compensation .
- Execution track record: Prior operational leadership at Torchy’s (unit growth doubled) and multi-brand casual dining experience align with Red Robin’s “First Choice” operational focus; management commentary ties recent momentum and EBITDA outlook to operational efficiency and guest focus, suggesting Griffith’s role is central to four-wall execution .