Wolszczak Jay Anthony 4
4 · First Watch Restaurant Group, Inc. · Filed Mar 12, 2026
Research Summary
AI-generated summary of this filing
First Watch (FWRG) CLO Jay Wolszczak Sells 6,998 Shares
What Happened
Jay Anthony Wolszczak, Chief Legal Officer, General Counsel & Secretary of First Watch Restaurant Group, sold 6,998 shares on 2026-03-10. The filing reports a weighted-average sale price of $12.59, resulting in proceeds of approximately $88,105. The sale was a mandatory sell-to-cover to satisfy tax withholding obligations related to the vesting of restricted stock units (RSUs), not a discretionary open-market trade.
Key Details
- Transaction date: 2026-03-10; Form 4 filed: 2026-03-12 (appears timely).
- Transaction type/code: Sale (S).
- Shares sold: 6,998; weighted-average price: $12.59; sale price range: $12.40–$12.73 (sold in multiple transactions).
- Total proceeds (approx.): $88,105.
- Footnotes: F1 — sale was mandatory to cover tax withholding on RSU vesting; F2 — weighted-average price reflects multiple sale prices, and the filer can provide per-price breakdown on request.
- Shares owned after the transaction: not specified in the provided filing.
Context
Sell-to-cover transactions are common when RSUs vest and are generally routine tax withholding actions rather than expressions of bullish or bearish views by the insider. Retail investors typically weigh purchases by insiders more heavily than mandatory withholding sales when assessing insider sentiment.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-03-10$12.59/sh−6,998$88,105→ 232,091 total
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.