First Watch director granted 12,345 RSUs

Solheim Jostein reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Solheim Jostein reported acquisition or exercise transactions in this Form 4 filing.

First Watch Restaurant Group director Jostein Solheim received an equity award from the company. He was granted 12,345 restricted stock units (RSUs) of common stock, with no cash paid per unit. The RSUs vest on May 21, 2027, if he continues serving through that date. After this grant, he directly holds 31,601 shares of common stock.

Insider Trade Summary

Grant/Award: 12,345 shares

Grant/Award 1 txn

Insider Solheim Jostein

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	12,345	$0.00	$0.00

Holdings After Transaction: Common Stock — 31,601 shares (Direct)

Footnotes (1)

1. F1. Represents the grant by the Issuer of restricted stock units ("RSUs") to the Reporting Person, which vest on May 21, 2027, subject to Reporting Person's continuous service through the vesting date. Each RSU represents a contingent right to receive one share of the Issuer's common stock.

Key Figures

RSUs granted: 12,345 RSUs Grant price: $0.0000 per share Post-transaction holdings: 31,601 shares +1 more

4 metrics

RSUs granted 12,345 RSUs Equity award to director on May 21, 2026

Grant price $0.0000 per share Reported transaction price per RSU

Post-transaction holdings 31,601 shares Common stock held directly after RSU grant

Vesting date May 21, 2027 RSUs vest subject to continuous service

Key Terms

restricted stock units ("RSUs"), continuous service, contingent right

3 terms

restricted stock units ("RSUs") financial

"Represents the grant by the Issuer of restricted stock units ("RSUs") to the Reporting Person"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

continuous service financial

"which vest on May 21, 2027, subject to Reporting Person's continuous service through the vesting date"

contingent right financial

"Each RSU represents a contingent right to receive one share of the Issuer's common stock"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did First Watch (FWRG) director Jostein Solheim report?

He reported an equity award of restricted stock units. Solheim received 12,345 RSUs of First Watch common stock, granted at no cash cost, which will convert into shares only if vesting conditions are satisfied.

When do Jostein Solheim’s new FWRG restricted stock units vest?

The RSUs vest on May 21, 2027. Vesting is contingent on Solheim’s continuous service with First Watch through that date, meaning he must remain in service until then to receive the underlying common shares.

How many First Watch (FWRG) shares does Jostein Solheim hold after this grant?

He holds 31,601 shares of common stock after the grant. This total reflects his direct ownership following the addition of 12,345 RSUs that represent a right to receive the company’s common stock at vesting.

Did Jostein Solheim buy or sell FWRG shares in the market?

No market purchase or sale was reported. The Form 4 shows an “A” code transaction, indicating a grant or award of 12,345 RSUs provided by the company, rather than an open-market trade by Solheim.

What does each FWRG restricted stock unit granted to Jostein Solheim represent?

Each RSU represents a contingent right to one common share. If vesting conditions are met on May 21, 2027, each of the 12,345 RSUs will convert into one share of First Watch common stock issued to Solheim.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/22/2026 - 04:04 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Solheim Jostein

(Last) (First) (Middle)

C/O FIRST WATCH RESTAURANT GROUP, INC.

8725 PENDERY PLACE, STE. 201

(Street)

BRADENTON FLORIDA 34201

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
First Watch Restaurant Group, Inc. [ FWRG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/21/2026		A		12,345(1)	A	$0	31,601	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents the grant by the Issuer of restricted stock units ("RSUs") to the Reporting Person, which vest on May 21, 2027, subject to Reporting Person's continuous service through the vesting date. Each RSU represents a contingent right to receive one share of the Issuer's common stock.

Remarks:

	/s/ Jay Wolszczak, as attorney-in-fact	05/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)