MADSEN ANDREW H 4
4 · NOODLES & Co · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
NOODLES & Co (NDLS) Director Andrew H. Madsen Receives RSU Award
What Happened
Andrew H. Madsen, a director of NOODLES & Co (NDLS), was granted 7,103 restricted stock units (RSUs) on 2026-05-15. The Form 4 reports the acquisition at $0.00 (award); the company used a notional price of $12.67 to value the grant, implying a total notional value of about $89,995. The RSUs settled in common stock on the grant date as part of the director compensation program.
Key Details
- Transaction date: 2026-05-15; Form 4 filed: 2026-05-19 (filing appears timely).
- Transaction type/code: Award/Grant (A); reported acquisition price $0.00.
- Shares granted/received: 7,103 RSUs, settled into common stock on the grant date.
- Notional valuation: $12.67 per share per footnote → ~ $89,995 total.
- Shares owned after transaction: Not specified in the filing.
- Footnote: Director compensation is partially paid in RSUs annually; RSUs equal the fees payable and settle immediately in common stock.
Context
This was a routine director compensation award, not an open-market purchase or sale. Awards and settlements like this are standard for non-employee directors and do not by themselves indicate a buy/sell view of the company’s stock. The Form 4 shows acquisition via grant (A) rather than a purchase (P) or sale (S).
Insider Transaction Report
- Award
Class A Common Stock
[F1]2026-05-15+7,103→ 37,526 total
Footnotes (1)
- [F1]The Reporting Person is a director of the Issuer and receives a portion of their director fee in the form of Restricted Stock Units ("RSU's"). Pursuant to this arrangement, on an annual basis, RSU's with a value equal to the fees payable, calculated using a notional price of $12.67 for this grant, are delivered to each eligible director. The RSU's settle in common stock on the date of grant.