Melissa Heidman - Mar 14, 2023 Form 4 Insider Report for NOODLES & Co (NDLS)

Signature
/s/ Kathryn Lockhart, attorney in fact
Stock symbol
NDLS
Transactions as of
Mar 14, 2023
Transactions value $
-$62,816
Form type
4
Date filed
3/15/2023, 06:33 PM
Previous filing
Jan 13, 2023
Next filing
Jun 29, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NDLS Class A Common Stock Award $0 +27.5K +35.99% $0.00 104K Mar 14, 2023 Direct F1
transaction NDLS Class A Common Stock Tax liability -$23.6K -4.64K -4.47% $5.09 99.3K Mar 14, 2023 Direct F2
transaction NDLS Class A Common Stock Award $0 +25.5K +25.7% $0.00 125K Mar 14, 2023 Direct F3
transaction NDLS Class A Common Stock Tax liability -$39.2K -7.7K -6.17% $5.09 117K Mar 14, 2023 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

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 closing price of the common stock of the Issuer on the date of surrender.
F3 On March 14th, 2020, the Reporting Person was granted Performance Share 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.