Eric Richard Hartman - Mar 6, 2024 Form 4 Insider Report for First Watch Restaurant Group, Inc. (FWRG)

Role: Chief Development Officer
Signature: /s/ Jay Wolszczak, as attorney-in-fact for Eric Richard Hartman
Stock symbol: FWRG
Transactions as of: Mar 6, 2024
Transactions value $: -$24,440
Form type: 4
Date filed: 3/6/2024, 07:45 PM
Previous filing: Mar 13, 2023
Next filing: Mar 11, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FWRG	Common Stock	Options Exercise	$12.5K	+1.47K	+2.87%	$8.45	52.9K	Mar 6, 2024	Direct
transaction	FWRG	Common Stock	Sale	-$36.9K	-1.47K	-2.79%	$25.03	51.4K	Mar 6, 2024	Direct	F1

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	-1.47K	-0.6%	$0.00	245K	Mar 6, 2024	Common Stock	1.47K	$8.45	Direct	F2

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

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price for the 1,474 shares. The individual range of sale prices for this transaction is $25.000 to $25.055. The reporting owner undertakes to provide to First Watch Restaurant Group, Inc., any security holder of First Watch Restaurant Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Shares sold at each separate price within the range set forth in this Footnote.
F2	The stock options, representing a right to purchase a total of 246,625 shares, became partially exercisable as follows: (a) 29,595 stock options vested on August 31, 2018, (b) 29,595 stock options vested on August 31, 2019, (c) 29,595 stock options vested on August 31, 2020, (d) 29,595 stock options vested on August 31, 2021, (e) 29,595 stock options vested on August 31, 2022, (f) 32,883 stock options vested on October 1, 2022 and (g) 32,883 stock options vested on October 1, 2023. 32,884 stock options are scheduled to vest and become exercisable on June 30, 2024, subject to earlier forfeiture or acceleration.

Content

The price reported in Column 4 is a weighted average price for the 1,474 shares. The individual range of sale prices for this transaction is $25.000 to $25.055. The reporting owner undertakes to provide to First Watch Restaurant Group, Inc., any security holder of First Watch Restaurant Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Shares sold at each separate price within the range set forth in this Footnote.

The stock options, representing a right to purchase a total of 246,625 shares, became partially exercisable as follows: (a) 29,595 stock options vested on August 31, 2018, (b) 29,595 stock options vested on August 31, 2019, (c) 29,595 stock options vested on August 31, 2020, (d) 29,595 stock options vested on August 31, 2021, (e) 29,595 stock options vested on August 31, 2022, (f) 32,883 stock options vested on October 1, 2022 and (g) 32,883 stock options vested on October 1, 2023. 32,884 stock options are scheduled to vest and become exercisable on June 30, 2024, subject to earlier forfeiture or acceleration.