SCHEDULE: Manulife Files Schedule 13G Amendment for First Watch

Manulife Financial Corporation and its subsidiaries have filed an amendment to their Schedule 13G, reporting their beneficial ownership of First Watch Restaurant Group, Inc. common stock.

Summary

• This filing is an amendment to a Schedule 13G, indicating a change in beneficial ownership reporting for First Watch Restaurant Group, Inc.
• Manulife Financial Corporation (MFC), Manulife Investment Management Limited (MIML), and Manulife Investment Management (US) LLC (MIM (US)) are the reporting persons.
• MIM (US) holds 3,810,295 shares, representing 6.18% of the outstanding common stock.
• MIML holds 13,687 shares, representing 0.02% of the outstanding common stock.
• MFC may be deemed to beneficially own these shares due to its parent-subsidiary relationship with MIM (US) and MIML.
• The filing reports the aggregate amount beneficially owned by each reporting person, with MIM (US) having sole voting and dispositive power over its shares.
• The total number of outstanding shares of common stock as of May 1, 2026, was 61,644,885.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a neutral to slightly negative score due to the filing being an administrative update with no new financial performance data, and the disclosed shareholdings are minimal in percentage terms.

Positives

• Manulife entities are actively managing their investment portfolios, as evidenced by this filing.
• The filing provides clear disclosure of beneficial ownership, adhering to regulatory requirements.

Negatives

• The reported shareholdings, particularly for MIML, represent a very small percentage of the total outstanding shares.
• The filing does not contain any new financial performance data or strategic updates for First Watch Restaurant Group, Inc.

Risks

• Potential for future changes in Manulife's investment strategy regarding First Watch Restaurant Group, Inc. could impact share price.
• Market perception of significant institutional ownership changes, even if minor in percentage, can sometimes influence investor sentiment.

Future Outlook

This filing is an amendment to a Schedule 13G and does not contain forward-looking statements or specific guidance regarding First Watch Restaurant Group, Inc.'s future performance. It solely reports on beneficial ownership.

Management Comments

• Signed pursuant to a Power of Attorney dated January 17, 2018 included as Exhibit A to Schedule 13F- NT filed with the Securities and Exchange Commission by Manulife Financial Corporation on January 29, 2018.
• By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to MIML is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.
• After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors and indicate passive ownership stakes. The amendment suggests a change in the reporting entity or a minor adjustment in holdings by Manulife's investment management arms concerning First Watch Restaurant Group, Inc., a player in the casual dining sector.

Stakeholder Impact

• Shareholders: The filing provides transparency regarding institutional ownership, which can influence investor confidence. The reported stakes are relatively small, suggesting no immediate control implications.
• Creditors: No direct impact is indicated as the filing pertains to equity ownership and not debt.
• Employees: No direct impact is indicated.

Next Steps

• Manulife entities will continue to report any future changes in beneficial ownership of First Watch Restaurant Group, Inc. common stock as required by SEC regulations.
• The company will file subsequent amendments to Schedule 13G if ownership thresholds or reporting requirements change.

Key Dates

Keywords

Schedule 13G, Beneficial Ownership, Manulife Financial Corporation, First Watch Restaurant Group, Investment Management, Common Stock, Amendment