Britt Irene Chang 4

What Happened
Britt Irene Chang, a director of First Watch Restaurant Group, was granted 12,345 restricted stock units (RSUs) on 2026-05-21. The grant is reported at $0.00 per share because it is an equity award (not a cash purchase or sale). These RSUs represent contingent rights to receive one share of FWRG common stock per RSU if vesting conditions are met.

Key Details

• Transaction date: 2026-05-21 (reported on Form 4 filed 2026-05-22).
• Transaction type/code: Award/Grant (A).
• Shares/units granted: 12,345 RSUs; acquisition price reported $0.00.
• Vesting: RSUs vest on May 21, 2027, subject to Chang’s continued service through that date (per footnote).
• Shares owned after transaction: Not specified in the filing.
• Filing timeliness: Filed one day after the transaction — within the typical two-business-day Form 4 window (not late).

Context
RSUs are a form of equity compensation that convert into actual shares only upon vesting; they do not provide immediate transferable shares or cash proceeds. Grants to directors are common as part of compensation and do not by themselves indicate a buy or sell signal. The award will only result in shares if Chang remains employed/serves through the May 21, 2027 vesting date.