Matthew Eisenacher - Mar 11, 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 11, 2024
Transactions value $
-$525,003
Form type
4
Date filed
3/12/2024, 04:08 PM
Previous filing
Mar 11, 2024
Next filing
Mar 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FWRG Common Stock Options Exercise $494K +38.9K +107.32% $12.68 75.2K Mar 11, 2024 Direct F1
transaction FWRG Common Stock Options Exercise $82K +6.07K +8.07% $13.52 81.3K Mar 11, 2024 Direct F1
transaction FWRG Common Stock Sale -$1.1M -45K -55.37% $24.46 36.3K Mar 11, 2024 Direct F1, F2

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 -38.9K -49.33% $0.00 40K Mar 11, 2024 Common Stock 38.9K $12.68 Direct F1, F3
transaction FWRG Stock Option (right to buy) Options Exercise $0 -6.07K -28.62% $0.00 15.1K Mar 11, 2024 Common Stock 6.07K $13.52 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Transaction pursuant to a 10b5-1 Trading Plan dated December 11, 2023.
F2 The price reported in Column 4 is a weighted average price for the 45,000 shares. The individual range of sale prices for this transaction is $24.06 to $25.04. 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.
F3 The stock options representing a right to purchase a total of 78,920 shares, became partially exercisable, as follows: (a) 9,470 stock options vested on April 24, 2020, (b) 9,470 stock options vested on April 24, 2021, (c) 9,470 stock options vested on April 24, 2022, (d) 10,522 stock options vested on October 1, 2022, (e) 9,471 stock options vested on April 24, 2023, and (f) 10,522 stock options vested on October 1, 2023. The unvested stock options are scheduled to vest and become exercisable as follows: (a) 9,471 stock options will vest on April 24, 2024 and (b) 10,524 stock options will vest on June 30, 2024, subject to earlier forfeiture or cancellation.
F4 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.