Form 4: Director Stephanie Lilak Receives RSU Grant at First Watch

Director Stephanie Lilak was granted 12,345 restricted stock units by First Watch Restaurant Group, Inc. on May 21, 2026.

Summary

• Director Stephanie Lilak acquired 12,345 restricted stock units (RSUs) from First Watch Restaurant Group, Inc.
• The transaction occurred on May 21, 2026, at a price of $0 per share.
• Following this transaction, the reporting person's total beneficial ownership is 39,361 shares of common stock.
• The RSUs are scheduled to vest on May 21, 2027, contingent upon continuous service.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation, which is neutral in terms of immediate market impact.

Positives

• Alignment of director interests with shareholders through equity-based compensation.

Negatives

• None identified.

Risks

• Vesting of the RSUs is subject to the reporting person's continuous service through the May 21, 2027, vesting date.

Future Outlook

The RSUs will vest on May 21, 2027, provided the director maintains continuous service with the company.

Industry Context

StockSavvy.ai notes that equity grants to non-employee directors are standard corporate governance practice in the restaurant industry to ensure long-term alignment with shareholder value.

Comparison to Industry Standards

• The grant of RSUs to directors is consistent with standard compensation practices for publicly traded restaurant companies like First Watch.
• The vesting period of one year is typical for annual director equity awards.

Stakeholder Impact

• Shareholders: Minimal impact, as this is a standard equity compensation grant.

Next Steps

• Vesting of the 12,345 RSUs on May 21, 2027.

Key Dates

Keywords

First Watch Restaurant Group, FWRG, Form 4, Insider Transaction, Restricted Stock Units, Director Compensation