Form 4: Noodles & Co Director Elisa Schreiber Receives Stock Grant as Part of Director Fee

Director Elisa Schreiber received 27,027 shares of Noodles & Co stock on May 15, 2024, as part of her director fee arrangement.

Summary

• Elisa Schreiber, a director at Noodles & Co, received 27,027 shares of Class A Common Stock on May 15, 2024.
• This transaction was part of an arrangement where directors receive a portion of their fees in the form of Restricted Stock Units (RSUs).
• The RSUs settle in common stock on the date of grant.
• Following the transaction, Schreiber directly owns 84,647 shares of Noodles & Co stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The increased alignment of director and shareholder interests is a slight positive.

Positives

• The director's stock ownership aligns her interests with those of the shareholders.

Industry Context

Director compensation in the form of stock grants is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Many publicly traded companies, including restaurant chains like Chipotle (CMG) and Starbucks (SBUX), use stock grants and RSU's as part of their director compensation packages.
• The size of the grant is typical for a company of Noodles & Co's size and market capitalization.

Related Party Transactions

• The stock grant to Elisa Schreiber is a related party transaction as she is a director of the company.

Stakeholder Impact

• The stock grant aligns the director's interests with those of the shareholders, potentially leading to better decision-making for the company's long-term success.

Key Dates