Form 4: First Watch Restaurant Group Director William Kussell Sells Shares Under 10b5-1 Trading Plan

Director William Kussell of First Watch Restaurant Group, Inc. sold a total of 8,386 shares of common stock on April 22, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• William A. Kussell, a director of First Watch Restaurant Group, Inc., reported the sale of common stock on April 22, 2024.
• The sales were executed under a 10b5-1 trading plan established on May 26, 2023.
• A total of 8,386 shares were sold in two transactions.
• The first transaction involved the sale of 2,796 shares at a weighted average price of $22.11, with individual prices ranging from $21.86 to $22.64.
• The second transaction involved the sale of 5,590 shares at a weighted average price of $22.10, with individual prices ranging from $21.86 to $22.65.
• Following these transactions, Kussell directly owns 12,409 shares of First Watch Restaurant Group, Inc.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as the sales were conducted under a pre-arranged trading plan.

Industry Context

Sales by insiders are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on any specific non-public information.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, but the existence of a 10b5-1 trading plan mitigates concerns about insider information.

Key Dates