Thomas B. West - Mar 14, 2023 Form 4 Insider Report for NOODLES & Co (NDLS)

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NDLS	Class A Common Stock	Award	$0	+31.4K	+28.89%	$0.00	140K	Mar 14, 2023	Direct	F1
transaction	NDLS	Class A Common Stock	Tax liability	-$25.6K	-5.02K	-3.58%	$5.09	135K	Mar 14, 2023	Direct	F2
transaction	NDLS	Class A Common Stock	Award	$0	+25.5K	+18.87%	$0.00	161K	Mar 14, 2023	Direct	F3
transaction	NDLS	Class A Common Stock	Tax liability	-$37.7K	-7.41K	-4.61%	$5.09	153K	Mar 14, 2023	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	Award of Restricted Stock Units ("RSU's").Each RSU represents a right to receive one share of Noodles & Company Class A common stock. The RSU's vest in four equal installments beginning on March 14, 2024.
F2	Represents shares surrendered to the Issuer by the Reporting Person to pay required tax withholdings due upon vesting of Restricted Stock Units from grants in March of 2020, 2021 and 2022. The shares surrendered were valued based on the most recent closing price of the common stock of the Issuer on the date of surrender.
F3	On March 14, 2020, the Reporting Person was granted Performance Stock Units ("PSUs"), the vesting of which is subject to the achievement of certain performance criteria. The number of shares reported represents the number of PSUs that were earned as a result of the achievement of such performance criteria.
F4	Represents shares surrendered to the Issuer by the Reporting Person to pay required tax withholdings due upon vesting of PSUs. The shares were valued based on the closing price of the common stock of the Issuer on the date of surrender.