HOPE H MELVILLE III 4

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.