Kussell William A 4

What Happened William A. Kussell, a director of First Watch Restaurant Group (FWRG), exercised 6,165 stock options at $8.45 per share (cost $52,094) on January 22, 2026 and then sold the same 6,165 shares in an open-market sale at $17.00 per share for total proceeds of $104,805. The sequence shows an option exercise (derivative conversion) followed by an immediate disposition of those shares.

Key Details

• Transaction date: January 22, 2026. Filing date: January 26, 2026. (No late-filing flag provided in the details supplied.)
• Exercise: 6,165 shares @ $8.45 — aggregate exercise cost $52,094. (Transaction code M)
• Sale: 6,165 shares @ $17.00 — aggregate proceeds $104,805. (Transaction code S)
• Footnotes: F1 — Transactions executed pursuant to a 10b5-1 trading plan dated Sept 9, 2025. F2 — Options exercised were awarded Aug 21, 2017 under the Issuer’s 2017 Omnibus Equity Incentive Plan.
• Shares owned after transaction: Not specified in the information provided.

Context This was an options exercise immediately followed by a sale (effectively a cashless exercise/sale). The sale was executed under a pre-established 10b5-1 trading plan, which is commonly used to automate insider trades and reduce questions about timing. These transactions are routine for option holders converting and selling vested awards; they indicate cashing out exercised options but do not, by themselves, reveal the insider’s long‑term view of the company.