Christopher Anthony Tomasso - Mar 12, 2024 Form 4 Insider Report for First Watch Restaurant Group, Inc. (FWRG)

Role
President and CEO, Director
Signature
/s/ Jay Wolszczak, as attorney-in-fact for Christopher Anthony Tomasso
Stock symbol
FWRG
Transactions as of
Mar 12, 2024
Transactions value $
-$2,137,338
Form type
4
Date filed
3/14/2024, 04:12 PM
Previous filing
Mar 11, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FWRG Common Stock Sale -$537K -22K -4.85% $24.43 432K Mar 12, 2024 Direct F1, F2
transaction FWRG Common Stock Options Exercise $845K +100K +23.16% $8.45* 532K Mar 12, 2024 Direct
transaction FWRG Common Stock Sale -$2.45M -100K -18.8% $24.45 432K Mar 12, 2024 Direct F3
holding FWRG Common Stock 500 Mar 12, 2024 By daughter

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 -100K -9.65% $0.00 936K Mar 12, 2024 Common Stock 100K $8.45 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the number of shares sold by First Watch Restaurant Group, Inc. on behalf of the reporting owner, which sale is mandatory pursuant to First Watch Restaurant Group, Inc.'s policies to cover necessary tax withholding obligations in connection with the vesting of restricted stock units. Such sales do not represent a discretionary trade by the reporting owner.
F2 The price reported in Column 4 is a weighted average price for the 21,995 shares. The individual range of sale prices for this transaction is $24.28 to $24.43. 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 price reported in Column 4 is a weighted average price for the 100,000 shares. The individual range of sale prices for this transaction is $24.18 to $24.66. 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.
F4 The stock options representing a right to purchase a total of 1,035,825 shares, became partially exercisable, as follows: (a) 124,299 stock options vested on August 31, 2018, (b) 124,299 stock options vested on August 31, 2019, (c) 124,299 stock options vested on August 31, 2020, (d) 124,299 stock options vested on August 31, 2021, (e) 124,299 stock options vested on August 31, 2022, (e) 138,110 stock options vested on October 1, 2022, and (f) 138,110 stock options vested on October 1, 2023. 138,110 stock options will vest on June 30, 2024, subject to earlier forfeiture or cancellation.