Form 4: First Watch Restaurant Group Executive Sells Shares to Cover Tax Obligations, Receives Restricted Stock Units

Laura Anne Sorensen, Chief People Officer of First Watch Restaurant Group, sold shares to cover tax obligations related to vesting restricted stock units and received additional restricted stock units.

Summary

• On March 12, 2025, Laura Anne Sorensen, Chief People Officer of First Watch Restaurant Group, sold 3,675 shares of common stock at a price of $16.81 per share to cover tax withholding obligations related to the vesting of restricted stock units.
• On March 13, 2025, Sorensen acquired 21,315 restricted stock units.
• These restricted stock units vest in three equal annual installments beginning on March 13, 2026.
• Following these transactions, Sorensen beneficially owns 87,888 shares of First Watch Restaurant Group common stock.

Sentiment

Score: 6

Explanation: The document reflects routine executive compensation activity. The sale of shares to cover taxes is neutral, and the granting of restricted stock units is a standard practice.

Positives

• The granting of restricted stock units to a key executive aligns their interests with the long-term performance of the company.

Future Outlook

The restricted stock units vest in three equal annual installments beginning on March 13, 2026, subject to earlier forfeiture or acceleration.

Industry Context

Executive stock transactions are common and are often related to compensation and tax planning. The sale of shares to cover tax obligations is a routine event.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.

Key Dates