First Watch (NASDAQ: FWRG) ends COO role and shifts operations to CEO

Rhea-AI Filing Summary

First Watch Restaurant Group, Inc. reported a change in its senior leadership, terminating the employment of Dan Jones, its Chief Operations Officer, effective March 27, 2026, as part of a restructuring of the company’s operations leadership structure. Following his departure, the company’s operations leadership will report directly to the President and Chief Executive Officer. The company expressed appreciation for Mr. Jones’s contributions during what it described as a transformational period for the business.

Positive

• None.

Negative

• Termination of Chief Operations Officer – Dan Jones’s employment as COO was terminated as part of a restructuring of the operations leadership structure, removing a key operational executive role and potentially raising questions about leadership continuity.

Insights

Corporate governance and restaurant operations analyst

First Watch removes its COO and consolidates operations oversight under the CEO, signaling a notable leadership shift.

The company has terminated Chief Operations Officer Dan Jones in connection with a restructuring of its operations leadership structure. This concentrates operational reporting directly under the President and CEO, eliminating a key layer in day-to-day operational oversight.

COO roles are central in multi-unit restaurant businesses, so this change may indicate a strategic shift in how operations are managed. The company characterizes recent years as a transformational period and publicly thanks Jones, framing the move as structural rather than performance-specific.

Future disclosures in company filings may clarify whether this restructuring drives further organizational changes or new strategic initiatives in operations, and whether additional leadership appointments follow this consolidation under the CEO.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________

FORM 8-K

___________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

March 27, 2026

Date of Report (date of earliest event reported)

___________________________________

First Watch Restaurant Group, Inc.

(Exact name of registrant as specified in its charter)

___________________________________

Delaware (State or other jurisdiction of incorporation or organization)			001-40866 (Commission File Number)			82-4271369 (I.R.S. Employer Identification Number)
8725 Pendery Place, Suite 201, Bradenton, FL 34201
(Address of principal executive offices and zip code)
(941) 907-9800
(Registrant's telephone number, including area code)

                    ___________________________________

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)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class			Trading Symbol			Name of each exchange on which registered
Common stock, $0.01 par value			FWRG			The Nasdaq Stock Market LLC (Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.

Emerging growth company    ☐

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.

As part of a restructuring of First Watch Restaurant Group, Inc.’s (the “Company”) operations leadership structure, the Company terminated the employment of Dan Jones, the Company’s Chief Operations Officer, on March 27, 2026. Following the separation, the Company’s operations leadership will continue to report directly to the Company’s President and Chief Executive Officer. The Company thanks Mr. Jones for his substantial contributions during a transformational period for the Company and wishes him well in his future endeavors.

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: March 27, 2026			By:			/s/ Jay Wolszczak
			Name:			Jay Wolszczak
			Title:			Chief Legal Officer, General Counsel and Secretary

FAQ

What leadership change did First Watch Restaurant Group (FWRG) announce?

First Watch Restaurant Group announced the termination of Chief Operations Officer Dan Jones as part of an operations leadership restructuring. His departure shifts operational reporting directly to the President and CEO, marking a notable change in the company’s management structure.

When was First Watch COO Dan Jones’s employment terminated?

Dan Jones’s employment as Chief Operations Officer was terminated effective March 27, 2026. The company tied this decision to a broader restructuring of its operations leadership structure, indicating an organizational shift in how operational functions are overseen.

Why did First Watch Restaurant Group (FWRG) terminate its COO?

The company stated that Dan Jones was terminated as Chief Operations Officer as part of a restructuring of its operations leadership structure. The filing did not provide performance details, instead linking the move to a broader organizational redesign of operational oversight.

Who will oversee operations at First Watch after the COO’s departure?

After Dan Jones’s departure as Chief Operations Officer, First Watch said its operations leadership will continue to report directly to the company’s President and Chief Executive Officer. This consolidates operational oversight at the top executive level rather than through a separate COO role.

How did First Watch describe Dan Jones’s tenure with the company?

First Watch thanked Dan Jones for his substantial contributions during what it called a transformational period for the company. The language suggests his tenure coincided with significant corporate change, even as the company now restructures its operations leadership structure.

Filing Exhibits & Attachments

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• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 22.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.7 KB