Form 4: Noodles & Co. Executive Melissa Heidman Reports Changes in Beneficial Ownership

EVP & General Counsel of Noodles & Co., Melissa Heidman, reports transactions involving Class A Common Stock, including the acquisition of shares through vested Performance Stock Units (PSUs) and the disposal of shares to cover tax withholdings.

Summary

• Melissa Heidman, EVP & General Counsel of Noodles & Co., filed a Form 4 detailing changes in her beneficial ownership of the company's Class A Common Stock.
• On March 14, 2024, Heidman surrendered 7,998 shares to cover tax withholdings at a price of $1.8 per share.
• Also on March 14, 2024, she acquired 5,363 shares through the vesting of Performance Stock Units (PSUs) at a price of $0.
• Additionally, on the same date, she surrendered 1,848 shares to cover tax withholdings related to the vesting of PSUs, valued at $1.8 per share.
• Following these transactions, Heidman beneficially owns 111,850 shares of Noodles & Co. Class A Common Stock.

Sentiment

Score: 5

Explanation: The document reflects routine transactions related to executive compensation and tax obligations, with no inherently positive or negative implications.

Positives

• The vesting of Performance Stock Units indicates that certain performance criteria were met, which could be viewed positively.

Negatives

• The surrender of shares to cover tax withholdings, while a normal occurrence, reduces the executive's holdings.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Key Dates