Form 4: Noodles & Co Director Receives Equity Compensation

Director Andrew H. Madsen acquired 7,103 shares of Noodles & Co Class A Common Stock as part of his annual director fee compensation.

Summary

• Director Andrew H. Madsen was granted 7,103 shares of Class A Common Stock on May 15, 2026.
• The shares were issued as part of the company's director compensation program, where a portion of fees are paid in Restricted Stock Units (RSUs).
• The RSUs were valued at a notional price of $12.67 per share and settled immediately in common stock.
• Following this transaction, the director's total beneficial ownership stands at 37,526 shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, routine administrative filing regarding director compensation.

Positives

• Director compensation alignment with shareholder interests through equity-based pay.

Negatives

• None identified.

Risks

• General market risks associated with equity ownership in the restaurant sector.

Future Outlook

No forward-looking guidance provided in this filing.

Industry Context

StockSavvy.ai notes that this is a routine disclosure of director compensation, which is standard practice for publicly traded companies to ensure board members have a vested interest in company performance.

Comparison to Industry Standards

• The use of RSUs for director compensation is a standard corporate governance practice among U.S. publicly traded companies to align board incentives with long-term shareholder value.

Corporate Governance

Stakeholder Impact

• Minimal impact on shareholders as this is a standard compensation arrangement.

Next Steps

• None mentioned.

Key Dates

Keywords

Noodles & Co, NDLS, Form 4, Director Compensation, Insider Transaction, Equity Grant