First Watch (FWRG) Chief Brand Officer receives 28,089 restricted stock units

Rhea-AI Filing Summary

First Watch Restaurant Group, Inc. reported that Chief Brand Officer Matthew Eisenacher acquired 28,089 shares of common stock through a grant of restricted stock units. These RSUs vest in three equal annual installments beginning on March 1, 2027, and are subject to forfeiture or acceleration. Following this award, he directly holds 76,053 shares.

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

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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^*

Eisenacher Matthew

(Last) (First) (Middle)

C/O FIRST WATCH RESTAURANT GROUP, INC.

8725 PENDERY PLACE, STE. 201

(Street)

BRADENTON FL 34201

(City) (State) (Zip)

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2026

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

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

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

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	03/01/2026		A		28,089	A	$0(1)	76,053	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 restricted stock units which vest in three equal annual installments beginning on March 1, 2027, subject to earlier forfeiture or acceleration.

Remarks:

	/s/ Jay Wolszczak, as attorney-in-fact	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did First Watch (FWRG) report for Matthew Eisenacher?

First Watch reported that Chief Brand Officer Matthew Eisenacher received a grant of 28,089 restricted stock units. These RSUs represent common stock awarded as compensation and increase his directly held shares to 76,053 after the transaction.

How many shares were granted to the First Watch (FWRG) Chief Brand Officer?

The Chief Brand Officer of First Watch received 28,089 restricted stock units. These units convert into common shares as they vest over time, adding to his existing direct holdings reported as 76,053 shares after the award.

What is the vesting schedule for the new RSUs at First Watch (FWRG)?

The 28,089 restricted stock units vest in three equal annual installments beginning on March 1, 2027. Vesting is also subject to potential earlier forfeiture or acceleration, depending on conditions described in the underlying award terms.

Did Matthew Eisenacher buy or sell First Watch (FWRG) shares in this filing?

He did not buy or sell shares on the open market; he acquired them through an equity award. The Form 4 classifies the transaction as a grant or award acquisition of restricted stock units, with no cash purchase price disclosed.

How many First Watch (FWRG) shares does the Chief Brand Officer hold after this award?

After receiving the 28,089 restricted stock unit award, the Chief Brand Officer is reported as directly owning 76,053 shares of common stock. This figure reflects his total direct holdings immediately following the reported equity grant transaction.

What type of security was granted in the First Watch (FWRG) Form 4?

The filing reports a grant of restricted stock units tied to First Watch common stock. These RSUs vest over three years starting March 1, 2027, and are subject to earlier forfeiture or acceleration under the terms described in the award footnote.