Jay Anthony Wolszczak - 15 Mar 2024 Form 4 Insider Report for First Watch Restaurant Group, Inc. (FWRG)

Role: Chief Legal Officer, GC & Secy
Signature: By: /s/ Jay Wolszczak
Issuer symbol: FWRG
Transactions as of: 15 Mar 2024
Net transactions value: -$237,600
Form type: 4
Filing time: 18 Mar 2024, 16:05:06 UTC
Previous filing: 14 Mar 2024
Next filing: 14 Mar 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FWRG	Common Stock	Options Exercise	$126,750	+15,000	+34%	$8.45	58,511	15 Mar 2024	Direct
transaction	FWRG	Common Stock	Sale	$364,350	-15,000	-26%	$24.29	43,511	15 Mar 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	-15,000	-8.4%	$0.000000	162,570	15 Mar 2024	Common Stock	15,000	$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 15,000 shares. The individual range of sale prices for this transaction is $24.28 to $24.37. 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 177,570 shares, became partially exercisable, as follows: (a) 21,309 stock options vested on July 18, 2019, (b) 21,309 stock options vested on July 18, 2020, (c) 21,308 stock options vested on July 18, 2021, (d) 21,308 stock options vested on July 18, 2022, (e) 23,676 stock options vested on October 1, 2022, (f) 21,308 stock options vested on July 18, 2023, and (g) 23,676 stock options vested on October 1, 2023. 23,676 stock options will vest on June 30, 2024, subject to earlier forfeiture or cancellation.

Content

The price reported in Column 4 is a weighted average price for the 15,000 shares. The individual range of sale prices for this transaction is $24.28 to $24.37. 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 177,570 shares, became partially exercisable, as follows: (a) 21,309 stock options vested on July 18, 2019, (b) 21,309 stock options vested on July 18, 2020, (c) 21,308 stock options vested on July 18, 2021, (d) 21,308 stock options vested on July 18, 2022, (e) 23,676 stock options vested on October 1, 2022, (f) 21,308 stock options vested on July 18, 2023, and (g) 23,676 stock options vested on October 1, 2023. 23,676 stock options will vest on June 30, 2024, subject to earlier forfeiture or cancellation.