Ashlee Weisser elevated to CFO at First Watch (NASDAQ: FWRG)
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
First Watch Restaurant Group has appointed Ashlee Weisser as Chief Financial Officer, effective June 8, 2026. She will also serve as the company’s principal financial and principal accounting officer. Weisser joined First Watch in 2023 as Senior Vice President of Financial Planning & Analysis and has more than 15 years of finance leadership experience at national restaurant brands.
In connection with her promotion, Weisser’s base salary is set at $475,000 with a target annual cash bonus equal to 70% of base salary. She also received restricted stock units with a fair market value of $275,000 on the grant date. She succeeds long-time CFO Mel Hope, who previously announced his retirement and will remain as an advisor to support a smooth leadership transition.
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Insights
CFO succession elevates internal finance leader with sector experience.
The company is promoting Ashlee Weisser, its Senior Vice President of Financial Planning & Analysis, to Chief Financial Officer. This indicates a planned internal succession rather than an abrupt external change, with continuity in financial leadership and familiarity with the business.
Her background includes senior finance roles at multiple national restaurant concepts, aligning with First Watch’s industry focus. Compensation combines salary, bonus potential and equity, which links part of her pay to company performance. The prior CFO, Mel Hope, remains as an advisor, helping maintain institutional knowledge during the transition.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
CFO base salary: $475,000 per year
Target annual bonus: 70% of base salary
Initial RSU grant: $275,000 fair market value
+3 more
6 metrics
CFO base salary
$475,000 per year
Base salary for Ashlee Weisser as CFO effective June 8, 2026
Target annual bonus
70% of base salary
Target bonus under annual cash incentive program for new CFO
Initial RSU grant
$275,000 fair market value
Restricted stock units granted to CFO on June 8, 2026
Restaurants in operation
More than 640 restaurants
System-wide footprint across 32 states as described
States served
32 states
Geographic reach of First Watch restaurants
Community donations
Approximately $2.0 million
Cumulative donations tied to kids’ meals served
Key Terms
Chief Financial Officer, restricted stock units, annual cash incentive program, forward-looking statements, +2 more
6 terms
Chief Financial Officer financial
"announced the appointment of Ashlee Weisser to Chief Financial Officer effective June 8, 2026"
A Chief Financial Officer (CFO) is the person in charge of a company's money and financial planning. They decide how to spend, save, and invest funds to help the company grow and stay stable. Their role is important because good financial decisions keep the company healthy and successful.
restricted stock units financial
"received an equity grant in the form of restricted stock units that have a fair market value"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
annual cash incentive program financial
"her target annual bonus under the Company’s annual cash incentive program will be 70% of her annual base salary"
forward-looking statements regulatory
"This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
franchisees financial
"potential negative impacts on sales at our and our franchisees’ restaurants as a result of our opening new restaurants"
Annual Report on Form 10-K regulatory
"See Part I. Item 1A. “Risk Factors” in our Annual Report on Form 10-K as of and for the year ended"
An annual report on Form 10‑K is a required, comprehensive filing that publicly traded companies give to regulators and investors summarizing their business, results of operations, detailed financial statements reviewed by independent auditors, material risks, legal issues and management’s discussion of performance. Investors use it like a company’s year‑end report card and medical checkup: it reveals how the business made money, where it is vulnerable, and the facts needed to compare value, judge risk and make informed investment decisions.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 6, 2026, the Board of Directors of First Watch Restaurant Group, Inc. (the “Company”) appointed Ashlee Weisser, the Company’s Senior Vice President, Financial Planning & Analysis, as the Company’s Chief Financial Officer, effective June 8, 2026. Ms. Weisser will serve as the Company’s principal financial officer and principal accounting officer effective June 8, 2026. Ms. Weisser, age 43, has served as our Senior Vice President, Financial Planning & Analysis since October 2023. Ms. Weisser previously served as Chief Financial Officer of Raney’s LLC, a provider of aftermarket parts and accessories for the heavy duty trucking industry, from January 2023 to October 2023. Prior to that, she served as Chief Financial Officer of Maple Street Biscuit Company, a fast-casual restaurant chain, from June 2021 to December 2022 and as Interim CEO from December 2021 to April 2022. From May 2018 to June 2021, Ms. Weisser served in a variety of leadership roles at Bloomin’ Brands, Inc., a casual dining restaurant company, ultimately serving as Chief Financial Officer for Outback Steakhouse. From 2012 to 2018, she served in a variety of roles of increasing responsibility at Red Robin Gourmet Burgers, Inc. A copy of the Company’s press release issued on June 8, 2026 announcing the appointment of Ms. Weisser as the Company’s Chief Financial Officer is filed as an exhibit to this report.
There are no family relationships between Ms. Weisser and any director or executive officer of the Company, and she has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Further, there are no arrangements or understandings between Ms. Weisser and any other person pursuant to which she was selected to become the Company’s Chief Financial Officer.
On June 6, 2026, in connection with her appointment as Chief Financial Officer described above, upon the recommendation of the Compensation Committee, the Board of Directors approved new compensation arrangements for Ms. Weisser effective June 8, 2026. Ms. Weisser’s base salary will be $475,000 and her target annual bonus under the Company’s annual cash incentive program will be 70% of her annual base salary. In addition, in connection with her appointment, Ms. Weisser received an equity grant in the form of restricted stock units that have a fair market value of $275,000 on the date of grant of June 8, 2026.
As previously announced in the Company’s Current Report on Form 8-K dated February 20, 2026, it is expected that Mr. Hope will serve as an advisor to the Company for a period of time to ensure a smooth transition.
Item 9.01 - Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Exhibit Title or Description | |||||||
99.1 | Press Release of First Watch Restaurant Group, Inc. dated June 8, 2026 | |||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
First Watch Restaurant Group, Inc. (Registrant) | ||||||||
Date: June 8, 2026 | By: | /s/ Jay Wolszczak | ||||||
Name: | Jay Wolszczak | |||||||
Title: | Chief Legal Officer, General Counsel and Secretary | |||||||
Exhibit 99.1
First Watch Restaurant Group, Inc. Announces Appointment of
Ashlee Weisser to Chief Financial Officer
BRADENTON, Fla., — June 8, 2026 (GLOBE NEWSWIRE) — First Watch Restaurant Group, Inc. (Nasdaq: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced the appointment of Ashlee Weisser to Chief Financial Officer effective June 8, 2026. She succeeds Mel Hope, who announced his planned retirement earlier this year and will continue to serve in an Advisor role to support a seamless leadership transition.
Weisser joined First Watch in 2023 as Senior Vice President, Financial Planning and Analysis, with over 15 years of experience guiding financial strategy and success at several national restaurant concepts, including most recently as CFO at Maple Street Biscuit Company during its aggressive growth stage following its acquisition by Cracker Barrel. Earlier in her career, she held several finance roles of increasing responsibility at Bloomin’ Brands, Red Robin and Darden.
“Throughout her time at First Watch, Ashlee has consistently demonstrated strong financial discipline, strategic insight and a results-driven mindset,” said Chris Tomasso, CEO and President of First Watch. “She has strengthened our financial foundation, advanced key growth initiatives and built a high-performing team to support our continued growth and evolution. This promotion reflects both her track record and her leadership, and we’re confident she will continue to play a critical role in driving our long-term success and shareholder value.”
As previously announced, Hope plans to retire following a distinguished career with the Company. “We are grateful for Mel’s leadership and many contributions over the years including his significant role in our successful initial public offering, and we look forward to continuing to benefit from his experience and counsel as an Advisor in the months ahead,” said Tomasso.
About First Watch
First Watch is the leading Daytime Dining concept serving made-to-order breakfast, brunch and lunch using the freshest ingredients available. Guided by its “Follow the Sun” culinary philosophy, First Watch's chef-driven menu rotates multiple times per year to feature the highest-quality flavors at their peak, offering elevated executions of classic favorites, fresh juices like the Kale Tonic, and fan favorites such as the Lemon Ricotta Pancakes, Quinoa Power Bowl and signature Million Dollar Bacon. For every kid’s meal served, First Watch proudly donates a portion to organizations and causes making a positive impact in our communities – raising approximately $2.0 million to date. A recipient of hundreds of local “Best Breakfast” and “Best Brunch” awards, First Watch was voted 2025’s #1 Best Breakfast by Newsweek’s Readers’ Choice Awards and was also named 2025 and 2024’s #1 Most Loved Workplace® in America by the Best Practice Institute (as seen in The Wall Street Journal), after appearing on the list in 2022 and 2023 as well. With a commitment to quality, hospitality and community, First Watch is redefining Daytime Dining across more than 640 restaurants in 32 states. For more information, visit www.firstwatch.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to known and unknown risks, uncertainties and other important
factors that may cause actual results to be materially different from the statements made herein. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to any historical or current facts. These statements may include words such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “future,” “intend,” “outlook,” “potential,” “project,” “projection,” “plan,” “seek,” “may,” “could,” “would,” “will,” “should,” “can,” “can have,” “likely,” the negatives thereof and other similar expressions. Examples of forward-looking statements include, but are not limited to, statements we make regarding our future long-term success and shareholder value and our leadership transition. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include:
•our vulnerability to changes in consumer preferences and economic conditions such as inflation and recession;
•our inability to successfully open new restaurants or establish new markets;
•our inability to effectively manage our growth;
•potential negative impacts on sales at our and our franchisees’ restaurants as a result of our opening new restaurants in existing markets;
•a decline in visitors to any of the retail centers, lifestyle centers, or entertainment centers where our restaurants are located;
•lower than expected same-restaurant sales growth;
•unsuccessful marketing programs and limited time new offerings;
•changes in the cost of food;
•unprofitability or closure of new restaurants or lower than previously experienced performance in existing restaurants;
•our inability to compete effectively for customers;
•our vulnerability to food safety and food-borne illness concerns;
•unsuccessful financial performance of our franchisees;
•our limited control over our franchisees’ operations;
•our inability to maintain good relationships with our franchisees and conflicts of interest with our franchisees;
•the geographic concentration of our system-wide restaurant base in the southeast portion of the United States;
•damage to our reputation and negative publicity;
•our inability or failure to recognize, respond to and effectively manage the accelerated impact of social media and artificial intelligence;
•our limited number of suppliers and distributors for several of our frequently used ingredients and shortages or disruptions in the supply or delivery of such ingredients;
•information technology system failures or breaches of our network security;
•our failure to comply with federal and state laws and regulations relating to privacy, data protection, advertising and consumer protection, or the expansion of current or the enactment of new laws or regulations relating to privacy, data protection, advertising and consumer protection;
•our potential liability with our gift cards under the property laws of some states;
•our failure to enforce and maintain our trademarks and protect our other intellectual property;
•litigation with respect to intellectual property assets;
•our dependence on our executive officers and certain other key employees;
•our inability to identify, hire, train and retain qualified individuals for our workforce;
•our failure to obtain or to properly verify the employment eligibility of our employees;
•our failure to maintain our corporate culture as we grow;
•unionization activities among our employees;
•employment and labor law proceedings;
•labor shortages or increased labor costs or health care costs;
•risks associated with leasing property subject to long-term and non-cancelable leases;
•risks related to our sale of alcoholic beverages;
•costly and complex compliance with federal, state and local laws, including trade and tax policies;
•changes in accounting principles applicable to us;
•our vulnerability to natural disasters, unusual weather conditions, pandemic outbreaks, political events, war and terrorism;
•our inability to secure additional capital to support business growth;
•our level of indebtedness;
•failure to comply with covenants under our credit facility; and
•uncertainty regarding the Russia and Ukraine war, war and unrest in the Middle East and the related impact on macroeconomic conditions, including inflation, as a result of such conflicts or other related events.
See Part I. Item 1A. “Risk Factors” in our Annual Report on Form 10-K as of and for the year ended December 28, 2025 (“2025 Form 10-K”) for a further description of these and other factors. For the reasons described above, we caution you against relying on any forward-looking statements, which should also be read in conjunction with the other cautionary statements that are included elsewhere in this press release and in our filings with the Securities and Exchange Commission. Any forward-looking statement made by us in this press release speaks only as of the date hereof and is expressly qualified in its entirety by these cautionary statements. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Investor Relations Contact
Steven L. Marotta
941-500-1918
investors@firstwatch.com
Media Relations Contact
Jenni Glester
407-864-5823
jglester@firstwatch.com
FAQ
Who is the new CFO of First Watch Restaurant Group (FWRG)?
First Watch appointed Ashlee Weisser as Chief Financial Officer effective June 8, 2026. She previously served as Senior Vice President, Financial Planning & Analysis at First Watch and has held CFO and senior finance roles at several national restaurant brands.
What is Ashlee Weisser’s compensation as CFO of First Watch (FWRG)?
As CFO, Ashlee Weisser will receive a $475,000 base salary and a target annual cash bonus equal to 70% of base salary. She also received restricted stock units valued at $275,000 on the June 8, 2026 grant date.
When does Ashlee Weisser officially assume the CFO role at First Watch?
Ashlee Weisser’s appointment as Chief Financial Officer at First Watch is effective June 8, 2026. From that date, she serves as both principal financial officer and principal accounting officer, succeeding retiring CFO Mel Hope, who remains as an advisor during the transition.
What is Mel Hope’s role after stepping down as CFO of First Watch (FWRG)?
Former CFO Mel Hope plans to retire after a long tenure with the company but will continue to serve as an advisor. His advisory role is intended to support a seamless leadership transition and allow First Watch to benefit from his experience and counsel.
What prior experience does Ashlee Weisser bring to First Watch’s CFO position?
Ashlee Weisser has over 15 years of finance leadership across national restaurant concepts. Her experience includes CFO roles at Maple Street Biscuit Company and Raney’s LLC, plus senior finance positions at Bloomin’ Brands, Red Robin and Darden before joining First Watch in 2023.
How many restaurants does First Watch operate according to this filing?
First Watch operates more than 640 restaurants across 32 states. The company describes itself as a leading Daytime Dining concept focused on made-to-order breakfast, brunch and lunch, served through a chef-driven menu that rotates multiple times per year.