Form 4: Mill Road Capital Reports Beneficial Ownership Changes in Noodles & Company (NDLS)

Mill Road Capital and related entities report changes in beneficial ownership of Noodles & Company stock, including acquisitions of restricted stock units.

Summary

• Mill Road Capital III, L.P. directly holds 2,266,143 shares of Noodles & Company Class A Common Stock.
• Mill Road Capital II, L.P. directly holds 4,699,148 shares of Noodles & Company Class A Common Stock.
• On May 15, 2024, 27,027 restricted stock units were acquired, with Mill Road Capital Management, LLC having the right to receive the economic benefit.
• Thomas E. Lynch, as a management committee director, has authority over the shares held by Mill Road Capital III, L.P. and Mill Road Capital II, L.P.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports changes in ownership.

Positives

• The acquisition of restricted stock units could indicate confidence in the future performance of Noodles & Company.

Industry Context

Form 4 filings are standard disclosures for insiders and significant shareholders, providing transparency into their transactions in the company's stock.

Stakeholder Impact

• Shareholders are informed about changes in ownership by significant holders, which can influence market perception.

Key Dates