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

Mill Road Capital and related entities report changes in their beneficial ownership of Noodles & Company stock, including acquisitions and holdings of Class A common stock and 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, 2025, 36,000 shares of Class A Common Stock were acquired at a price of $0.
• 114,982 shares are held indirectly as restricted stock units.
• Thomas E. Lynch, as a management committee director of Mill Road Capital III GP LLC and Mill Road Capital II GP LLC, disclaims beneficial ownership of the shares except to the extent of his pecuniary interest.
• The report also covers holdings by Mill Road Capital II, L.P., Mill Road Capital II GP LLC, and Thomas E. Lynch in his capacity as a director.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing regarding changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This filing is a routine disclosure related to changes in ownership by significant shareholders, which is common in the investment management industry. It provides transparency to the market regarding the holdings and transactions of major investors in Noodles & Company.

Stakeholder Impact

• Shareholders are informed about the ownership stake of Mill Road Capital in Noodles & Company.
• The filing provides transparency regarding the transactions of a major shareholder, which can influence investor confidence.

Key Dates

Keywords

beneficial ownership, Form 4, Mill Road Capital, Noodles & Company, NDLS, stock, shares, restricted stock units, Thomas E. Lynch