Form 4: Noodles & Company Chief Accounting Officer Reports Changes in Beneficial Ownership

Kathryn Rae Lockhart, Chief Accounting Officer of Noodles & Company, reports the acquisition and disposal of Class A Common Stock and Restricted Stock Units.

Summary

• Kathryn Rae Lockhart, the Chief Accounting Officer of Noodles & Company, filed a Form 4 detailing changes in her beneficial ownership of the company's securities.
• On May 15, 2025, she surrendered 1,278 shares of Class A Common Stock to cover tax withholdings upon the vesting of Restricted Stock Units (RSUs), with the shares valued at $0.862 each.
• Also on May 15, 2025, she was awarded 24,000 Restricted Stock Units (RSUs), each representing one share of Noodles & Company Class A common stock.
• These RSUs vest in four equal annual installments starting on May 15, 2026.
• Following these transactions, Lockhart directly owns 74,366 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: The document is a neutral regulatory filing. The RSU award is a positive sign of aligning management interests, but the share surrender is a routine tax-related transaction.

Positives

• The award of 24,000 RSUs to the Chief Accounting Officer aligns her interests with the long-term performance of the company.

Future Outlook

The RSUs vest in four equal annual installments beginning on May 15, 2026, incentivizing the officer's continued service and contribution to the company's success.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in the holdings of a key executive at Noodles & Company.

Stakeholder Impact

• The RSU award aligns the Chief Accounting Officer's interests with those of shareholders.

Key Dates

Keywords

Form 4, Beneficial Ownership, Restricted Stock Units, NDLS, Noodles & Company, Kathryn Rae Lockhart, Chief Accounting Officer, Securities, Class A Common Stock