Jones John Daniel 4

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.