First Watch Restaurant Group, Inc. 8-K

What Happened

• First Watch Restaurant Group, Inc. filed an 8‑K on December 29, 2025 reporting that two directors — Tricia Glynn and David Paresky — resigned from the Board effective December 23, 2025 in connection with Advent International, L.P.’s exit from its equity investment in the company. The company reported there were no disagreements with management or the Board.
• The Board reduced its size from ten to nine directors and on December 29, 2025 appointed Rachel Tipograph as a Class II (independent) director, effective December 29, 2025, to serve until the company’s 2026 annual meeting. The Board determined she meets Nasdaq/SEC independence standards.

Key Details

• Resignations: Tricia Glynn (director since Aug 2017) and David Paresky (director since Apr 2023) resigned effective Dec 23, 2025, tied to Advent’s exit.
• Board change: Size decreased from 10 to 9 directors; Rachel Tipograph appointed Dec 29, 2025 as Class II director.
• Tipograph background and compensation: Founder & CEO of TIPO Entertainment/MikMak (since Sept 2014); BA from NYU. As a non‑employee director she will receive standard board compensation and received restricted stock units with a fair market value of $140,000 on the grant date (Dec 30, 2025).
• No related-party arrangements or disclosures required under SEC rules were reported for Tipograph.

Why It Matters

• Board composition and governance: Changes reflect the departure of Advent as an investor and corresponding board representation shifts. New independent director Rachel Tipograph brings e‑commerce and digital analytics experience, which may influence board oversight in those areas.
• Investor considerations: These are governance changes (not operating results). Investors should note the reduced board size, the replacement director’s background, and the $140,000 RSU grant disclosed in the 8‑K. Watch future filings and proxy materials for any further board changes, committee assignments, or related governance updates.