Matthew Eisenacher - Mar 6, 2024 Form 4 Insider Report for First Watch Restaurant Group, Inc. (FWRG)

Role: Chief Brand Officer
Signature: /s/ Jay Wolszczak, Attorney-in-Fact for Matthew Eisenacher
Stock symbol: FWRG
Transactions as of: Mar 6, 2024
Transactions value $: -$226,563
Form type: 4
Date filed: 3/6/2024, 07:43 PM
Previous filing: Aug 10, 2023
Next filing: Mar 11, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership
transaction	FWRG	Common Stock	Options Exercise	$75.3K	+5.57K	+34.59%	$13.52	21.7K	Mar 6, 2024	Direct
transaction	FWRG	Common Stock	Options Exercise	$182K	+14.4K	+66.56%	$12.58	36.1K	Mar 6, 2024	Direct
transaction	FWRG	Common Stock	Sale	-$483K	-20K	-55.39%	$24.17	16.1K	Mar 6, 2024	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	FWRG	Stock Option (right to buy)	Options Exercise	$0	-5.57K	-20.81%	$0.00	21.2K	Mar 6, 2024	Common Stock	5.57K	$13.52	Direct	F1
transaction	FWRG	Stock Option (right to buy)	Options Exercise	$0	-14.4K	-33.33%	$0.00	28.9K	Mar 6, 2024	Common Stock	14.4K	$12.58	Direct	F2

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

Explanation of Responses:

Id	Content
F1	The stock options, representing a right to purchase a total of 26,772 shares, became partially exercisable as follows: (a) 3,212 stock options vested on April 1, 2021, (b) 3,213 stock options vested on April 1, 2022, (c) 3,568 stock options vested on October 1, 2022; (d) 3,213 stock options vested on April 1, 2023 and (e) 3,570 stock options vested on October 1, 2023. The unvested stock options are scheduled to vest and become exercisable as follows: (a) 3,213 stock options will vest on April 1, 2024, (b) 3,570 stock options will vest on June 30, 2024 and (c) 3,213 stock options will vest on April 1, 2025, subject to earlier forfeiture or cancellation.
F2	14,429 stock options vested on March 25, 2023. The unvested stock options are scheduled to vest and become exercisable as follows: (a) 14,430 stock options will vest on March 25, 2024, and (b) 14,431 stock options will vest on March 25, 2025, subject to earlier forfeiture or acceleration.

Content

The stock options, representing a right to purchase a total of 26,772 shares, became partially exercisable as follows: (a) 3,212 stock options vested on April 1, 2021, (b) 3,213 stock options vested on April 1, 2022, (c) 3,568 stock options vested on October 1, 2022; (d) 3,213 stock options vested on April 1, 2023 and (e) 3,570 stock options vested on October 1, 2023. The unvested stock options are scheduled to vest and become exercisable as follows: (a) 3,213 stock options will vest on April 1, 2024, (b) 3,570 stock options will vest on June 30, 2024 and (c) 3,213 stock options will vest on April 1, 2025, subject to earlier forfeiture or cancellation.

14,429 stock options vested on March 25, 2023. The unvested stock options are scheduled to vest and become exercisable as follows: (a) 14,430 stock options will vest on March 25, 2024, and (b) 14,431 stock options will vest on March 25, 2025, subject to earlier forfeiture or acceleration.