MADSEN ANDREW H 4

What Happened

• Andrew H. Madsen, a director of Noodles & Co (NDLS), surrendered 2,111 shares on 2026-03-06 to satisfy tax withholding obligations related to vested restricted stock units (RSUs). The shares were valued at $5.99 each for a total of $12,645. This was a share surrender for tax withholding (transaction code F), not an open-market sale.

Key Details

• Transaction date: 2026-03-06; price per share used for valuation: $5.99; total value: $12,645.
• Transaction type/code: F — shares surrendered to issuer to cover tax withholdings on RSU vesting (see footnote F1).
• Shares owned after transaction: not specified in the reported excerpt.
• Filing date / timeliness: Form 4 filed 2026-03-10 — within the SEC’s two-business-day filing window for this transaction.
• Footnote: F1 states the surrendered shares were valued based on the closing price on the date of surrender.

Context

• This was a routine tax-withholding disposition of vested RSUs (cashless share surrender) rather than an indication of an insider selling stock on the open market. The filing also notes a 1-for-8 reverse stock split effective Feb 18, 2026; all figures in the Form 4 reflect that split.