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

Director Robert M. Hartnett receives 36,000 shares of Noodles & Co stock as part of his director fee arrangement.

Summary

• Robert M. Hartnett, a director at Noodles & Co, acquired 36,000 shares of Class A Common Stock on May 15, 2025.
• The shares were granted as part of his director fee arrangement.
• The price per share was $0, as the shares were received as Restricted Stock Units (RSUs) that settled in common stock on the date of grant.
• Following the transaction, Hartnett directly owns 220,085 shares of Noodles & Co stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a standard director compensation practice, aligning interests with shareholders. There are no indications of negative performance or concerns.

Positives

• The director's stock ownership aligns his interests with those of the shareholders.
• The use of RSUs as part of director compensation can help conserve company cash.

Future Outlook

NA

Industry Context

This type of director compensation, using stock or RSUs, is common in the restaurant industry to align management and shareholder interests. It's a way to incentivize directors to focus on long-term value creation.

Comparison to Industry Standards

• Many publicly traded restaurant companies, such as Chipotle, McDonald's, and Starbucks, use a mix of cash and equity-based compensation for their directors.
• The specific mix and valuation methods can vary, but the general principle of aligning director compensation with shareholder value is a common practice.
• For example, some companies might grant stock options instead of RSUs, while others might use a different valuation method for determining the number of shares granted.

Stakeholder Impact

• Shareholders may view this positively as it aligns the director's interests with the company's performance.
• Employees are unlikely to be directly impacted by this transaction.
• Customers and suppliers are unlikely to be directly impacted by this transaction.
• Creditors are unlikely to be directly impacted by this transaction.

Key Dates

Keywords

director compensation, Form 4, NDLS, Noodles & Co, Robert Hartnett, Restricted Stock Units, RSU, stock grant, director fee