Jones John Daniel 4

4 · First Watch Restaurant Group, Inc. · Filed Mar 12, 2026

AI-generated summary of this filing

Updated Mar 12, 2026

First Watch (FWRG) COO John Daniel Jones Sells 4,600 Shares

What Happened

John Daniel Jones, Chief Operations Officer of First Watch Restaurant Group (FWRG), sold 4,600 shares on 2026-03-10. The weighted-average sale price reported was $12.59 per share for total proceeds of approximately $57,914. This transaction is reported as a sale (S) and was executed as a mandatory “sell-to-cover” to satisfy tax-withholding obligations tied to the vesting of restricted stock units (RSUs).

Key Details

Transaction date: March 10, 2026; Form 4 filed March 12, 2026 (appears timely).
Price: weighted average $12.59; actual sale prices ranged from $12.40 to $12.73 (sold in multiple transactions). (See footnote F2.)
Shares sold: 4,600; proceeds allocated pro rata among employees, and the sale was mandatory to cover taxes (footnote F1).
Shares owned after transaction: not specified in the provided filing excerpt.
Transaction type/code: S (sale); not a discretionary open-market sale — it was a broker/issuer-initiated sell-to-cover related to RSU vesting.

Context

Sell-to-cover transactions occur when newly vested RSUs are partially sold to cover required tax withholding; they are routine administrative actions and generally do not indicate the insider’s discretionary view of the company’s stock. The filing’s footnotes state the broker sold shares on behalf of employees and allocated proceeds pro rata; the reporting person can provide a breakdown of shares sold at each price on request.

Form 4

Period: 2026-03-10

Chief Operations Officer

Transactions

Footnotes (2)

[F1]Represents the number of shares sold by Issuer on behalf of the reporting owner, which sale is mandatory pursuant to Issuer's policies to cover necessary tax withholding obligations in connection with the vesting of restricted stock units. Such sales do not represent a discretionary trade by the reporting owner.
[F2]The price reported in column 4 represents the weighted average price of the common stock sold by the broker on behalf of the employees of the Issuer as a result of mandatory sell to cover transactions associated with the vesting of restricted stock units. These shares were sold in multiple transactions at prices ranging from $12.40 to $12.73, inclusive. The proceeds of all such sales were allocated to the employees, including the reporting person, on a pro rata basis. The reporting person undertakes to provide to the Issuer, any securityholder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Signature

/s/ Jay Wolszczak, as attorney-in-fact|2026-03-12

1 file