Mill Road Capital III, L.P. - 15 May 2026 Form 4 Insider Report for NOODLES & Co (NDLS)

Reporting relationship
10%+ Owner
Issuer ticker
NDLS
Reported as of
15 May 2026
Net transaction value
$0
Source evidence Original filing metadata and source links for verification. 4 source fields
SEC form
4
Accepted by SEC
19 May 2026, 15:46:39 UTC
Prior SEC filing
16 Mar 2026
Source filing
View source filing
Reporting owner 1 detail
Reporting owner signature
/s/ Thomas E. Lynch, Management Committee Director of sole general partner on behalf of Mill Road Capital III, L.P.

Key filing fact

Mill Road Capital III, L.P. filed Form 4 for NOODLES & Co (NDLS) on 19 May 2026.

Key facts

  • This page summarizes Mill Road Capital III, L.P.'s Form 4 filing for NOODLES & Co (NDLS).
  • 1 reported transaction and 0 derivative rows are listed below.
  • Accepted by SEC: 19 May 2026, 15:46.

Change

  • Previous filing in this sequence was filed on 16 Mar 2026.
  • Current net transaction value: $0.

Research use

  • This tells you what this filing adds before you inspect full transaction and derivative tables.
  • You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (5)

CIK 0001767199 Primary reporting owner

Mill Road Capital III, L.P.

Relationship
10%+ Owner
Address
328 PEMBERWICK ROAD, GREENWICH
Signature
/s/ Thomas E. Lynch, Management Committee Director of sole general partner on behalf of Mill Road Capital III, L.P.
Signature date
19 May 2026
CIK 0001767178

Mill Road Capital III GP LLC

Relationship
10%+ Owner
Address
328 PEMBERWICK ROAD, GREENWICH
Signature
/s/ Thomas E. Lynch, Management Committee Director on behalf of Mill Road Capital III GP LLC
Signature date
19 May 2026
CIK 0001550729

Mill Road Capital II, L.P.

Relationship
10%+ Owner
Address
328 PEMBERWICK ROAD, GREENWICH
Signature
/s/ Thomas E. Lynch, Management Committee Director of sole general partner on behalf of Mill Road Capital II, L.P.
Signature date
19 May 2026
CIK 0001550728

Mill Road Capital II GP LLC

Relationship
10%+ Owner
Address
328 PEMBERWICK ROAD, GREENWICH
Signature
/s/ Thomas E. Lynch, Management Committee Director on behalf of Mill Road Capital II GP LLC
Signature date
19 May 2026
CIK 0001244666

LYNCH THOMAS E

Relationship
Director, 10%+ Owner
Address
328 PEMBERWICK ROAD, GREENWICH
Signature
/s/ Thomas E. Lynch
Signature date
19 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

NDLS transaction

Class A Common Stock, $0.01 par value

Other

Transaction value
Shares
+7,103
Change %
+49%
Price
$0.000000*
Shares after
21,476
Date
15 May 2026
Ownership
See footnote
Footnotes
F3
NDLS transaction

Class A Common Stock, $0.01 par value

Other

Transaction value
Shares
+7,103
Change %
+49%
Price
$0.000000*
Shares after
21,476
Date
15 May 2026
Ownership
See footnote
Footnotes
F3
NDLS transaction

Class A Common Stock, $0.01 par value

Other

Transaction value
Shares
+7,103
Change %
+49%
Price
$0.000000*
Shares after
21,476
Date
15 May 2026
Ownership
See footnote
Footnotes
F3
NDLS transaction

Class A Common Stock, $0.01 par value

Other

Transaction value
Shares
+7,103
Change %
+49%
Price
$0.000000*
Shares after
21,476
Date
15 May 2026
Ownership
See footnote
Footnotes
F3
NDLS transaction

Class A Common Stock, $0.01 par value

Other

Transaction value
Shares
+7,103
Change %
+49%
Price
$0.000000*
Shares after
21,476
Date
15 May 2026
Ownership
See footnote
Footnotes
F3
NDLS holding

Class A Common Stock, $0.01 par value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
283,267
Date
15 May 2026
Ownership
Direct
Footnotes
F1
NDLS holding

Class A Common Stock, $0.01 par value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
283,267
Date
15 May 2026
Ownership
Direct
Footnotes
F1
NDLS holding

Class A Common Stock, $0.01 par value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
283,267
Date
15 May 2026
Ownership
Direct
Footnotes
F1
NDLS holding

Class A Common Stock, $0.01 par value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
283,267
Date
15 May 2026
Ownership
Direct
Footnotes
F1
NDLS holding

Class A Common Stock, $0.01 par value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
283,267
Date
15 May 2026
Ownership
Direct
Footnotes
F1
NDLS holding

Class A Common Stock, $0.01 par value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
587,393
Date
15 May 2026
Ownership
See footnote
Footnotes
F2
NDLS holding

Class A Common Stock, $0.01 par value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
587,393
Date
15 May 2026
Ownership
See footnote
Footnotes
F2
NDLS holding

Class A Common Stock, $0.01 par value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
587,393
Date
15 May 2026
Ownership
See footnote
Footnotes
F2
NDLS holding

Class A Common Stock, $0.01 par value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
587,393
Date
15 May 2026
Ownership
See footnote
Footnotes
F2
NDLS holding

Class A Common Stock, $0.01 par value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
587,393
Date
15 May 2026
Ownership
See footnote
Footnotes
F2
* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

The shares reported are directly held by Mill Road Capital III, L.P. ("Fund III"). Mr. Lynch is a management committee director of Mill Road Capital III GP LLC, which is the sole general partner of Fund III and has sole authority to vote (or direct the vote of), and to dispose (or direct the disposal) of, these shares on behalf of Fund III. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any.

Footnote F2

The shares reported are directly held by Mill Road Capital II, L.P. ("Fund II"). Mr. Lynch is a management committee director of Mill Road Capital II GP LLC, which is the sole general partner of Fund II and has sole authority to vote (or direct the vote of), and to dispose (or direct the disposal) of, these shares on behalf of Fund II. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any.

Footnote F3

Represents restricted stock units (or shares issued upon the vesting thereof) granted by the issuer as director compensation, in which the Reporting Persons may have an indirect pecuniary interest. Mill Road Capital Management, LLC, an affiliate of the Reporting Persons that does not have Section 13(d) beneficial ownership of any securities of the issuer, has the right to receive the economic benefit of the reported shares pursuant to a contractual obligation with the holder of such shares. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any.

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