Mill Road Capital II, L.P. - Oct 14, 2021 Form 4 Insider Report for NOODLES & Co (NDLS)

Role
10%+ Owner
Signature
/s/ Thomas E. Lynch, Management Committee Director of sole general partner on behalf of Mill Road Capital II, L.P.
Stock symbol
NDLS
Transactions as of
Oct 14, 2021
Transactions value $
-$668,274
Form type
4
Date filed
10/18/2021, 06:36 PM
Previous filing
Sep 28, 2021
Next filing
Nov 19, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NDLS Class A Common Stock, $0.01 par value Sale -$208K -15.6K -0.33% $13.30 4.73M Oct 14, 2021 Direct F1
transaction NDLS Class A Common Stock, $0.01 par value Sale -$460K -35.3K -0.74% $13.05 4.7M Oct 15, 2021 Direct F1
holding NDLS Class A Common Stock, $0.01 par value 22.4K Oct 14, 2021 See footnote F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares reported are directly held by Mill Road Capital II, L.P. (the "Fund"). Mill Road Capital II GP LLC (the "GP") is the sole general partner of the Fund and has sole authority to vote (or direct the vote of), and to dispose (or direct the disposal) of, these shares on behalf of the Fund. Mr. Lynch is a management committee director of the GP and has shared authority to vote (or direct the vote of), and to dispose (or direct the disposal) of, these shares on behalf of the GP. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any.
F2 Represents restricted stock units (or shares issued upon the vesting thereof) granted by the issuer as director compensation, in which the Reporting Persons may have an indirect pecuniary interest. Mill Road Capital Management, LLC, an affiliate of the Reporting Persons that does not have Section 13(d) beneficial ownership of any securities of the issuer, has the right to receive the economic benefit of the reported shares pursuant to a contractual obligation with the holder of such shares. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any.