Form 4: First Watch Restaurant Group Director Receives Restricted Stock Units

Director Jostein Solheim of First Watch Restaurant Group, Inc. received 5,194 restricted stock units on May 23, 2024, which will vest on May 23, 2025, contingent upon continued service.

Summary

• On May 23, 2024, Jostein Solheim, a director of First Watch Restaurant Group, Inc. (FWRG), was granted 5,194 restricted stock units (RSUs).
• These RSUs will vest on May 23, 2025, provided that Mr. Solheim continues to serve as a director through that date.
• Each RSU represents the right to receive one share of FWRG's common stock.
• Following this transaction, Mr. Solheim beneficially owns 10,457 shares of common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. It's a neutral to slightly positive event.

Positives

• The grant of restricted stock units to a director aligns their interests with the long-term performance of the company.
• Continued service requirement ensures commitment.

Future Outlook

The vesting of the RSUs is contingent upon the director's continued service, suggesting an expectation of ongoing involvement with the company.

Industry Context

Grants of restricted stock units are a common form of executive compensation in the restaurant industry, aligning management's interests with shareholder value.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns director interests with company performance.
• Employees may see this as a sign of stability and commitment from leadership.

Key Dates