Form 4: Noodles & Co Director Britain Peakes Acquires Shares as Part of Director Fee Arrangement

Director Britain Peakes acquired 24,774 shares of Noodles & Co stock as part of a director fee arrangement, increasing their total holdings to 25,113 shares.

Summary

• Britain Peakes, a director of Noodles & Co, acquired 24,774 shares of Class A Common Stock on June 10, 2024.
• The acquisition was part of a director fee arrangement where directors receive Restricted Stock Units (RSUs) equivalent to their fees, which settle in common stock on the grant date.
• The price per share was $0.
• Following the transaction, Peakes directly owns 25,113 shares, including shares held in a Rollover IRA.
• Peakes is also a vice president and investment professional of Hoak and Co and may be deemed to beneficially own shares owned by other members of a Schedule 13D reporting group, but disclaims beneficial ownership except to the extent of her pecuniary interest.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director's acquisition of shares, even as part of a compensation plan, can be seen as a positive signal, indicating confidence in the company's future.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.
• The director fee arrangement aligns the interests of directors with those of shareholders.

Industry Context

Director share acquisitions are common and often viewed positively as they align management's interests with shareholders. RSU grants are a typical form of compensation for board members.

Stakeholder Impact

• The acquisition of shares by a director could have a slightly positive impact on shareholder sentiment.

Key Dates