HOPE H MELVILLE III 4
4 · First Watch Restaurant Group, Inc. · Filed Mar 12, 2026
Research Summary
AI-generated summary of this filing
First Watch (FWRG) CFO Hope H. Melville III Sells 7,358 Shares
What Happened Hope H. Melville III, Chief Financial Officer and Treasurer of First Watch Restaurant Group, sold 7,358 shares on 2026-03-10. The reported weighted-average sale price was $12.59 per share, resulting in proceeds of approximately $92,637. The sale is coded as an S (sale) and, per the filing, 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, within the typical two-business-day reporting window).
- Price: weighted average $12.59; actual sale prices ranged from $12.40 to $12.73 across multiple executions.
- Shares sold: 7,358; proceeds ≈ $92,637.
- Shares owned after transaction: not specified in the provided filing.
- Footnotes: F1 — sale was mandatory to cover tax withholding on RSU vesting (not a discretionary trade). F2 — weighted-average price shown; broker executed multiple sales at prices within $12.40–$12.73; pro rata allocation of proceeds among employees; reporting person can provide a breakdown of sales by price on request.
- Filing timeliness: Filed two days after the transaction; no late filing indication in the provided data.
Context Sell-to-cover transactions are routine administrative actions to satisfy tax obligations when equity awards vest and generally do not by themselves signal management’s view of the company’s prospects. This Form 4 reflects such a routine withholding sale rather than a voluntary reduction in insider ownership.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-03-10$12.59/sh−7,358$92,637→ 115,665 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.