First Watch director granted 12,345 RSUs

Kussell William A reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Kussell William A reported acquisition or exercise transactions in this Form 4 filing.

First Watch Restaurant Group director William A. Kussell received a grant of 12,345 shares of common stock in the form of restricted stock units. The RSUs were awarded at no cash cost and each unit represents a right to one share of common stock.

The RSUs vest on May 21, 2027, provided Kussell remains in continuous service through that date. After this grant, his directly held common stock position reported in the filing totals 38,747 shares.

Insider Trade Summary

Grant/Award: 12,345 shares

Grant/Award 1 txn

Insider Kussell William A

Role Director

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

Holdings After Transaction: Common Stock — 38,747 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

RSU grant size: 12,345 shares Post-grant holdings: 38,747 shares RSU vesting date: May 21, 2027

3 metrics

RSU grant size 12,345 shares Restricted stock units granted to director William A. Kussell

Post-grant holdings 38,747 shares Total common stock directly held after transaction

RSU vesting date May 21, 2027 Vesting date for granted restricted stock units

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) report for William A. Kussell?

First Watch reported that director William A. Kussell received 12,345 restricted stock units. These RSUs are a stock-based compensation award, with each unit representing a contingent right to receive one share of First Watch common stock at vesting.

How many shares were included in William A. Kussell’s RSU grant at First Watch (FWRG)?

The grant to William A. Kussell covers 12,345 restricted stock units. Each RSU corresponds to one share of First Watch common stock, so the award represents 12,345 potential future shares if the vesting conditions are satisfied.

When do William A. Kussell’s RSUs from First Watch (FWRG) vest?

Kussell’s restricted stock units vest on May 21, 2027. Vesting is conditioned on his continuous service with First Watch through that date, meaning he must remain in his role until then to receive the underlying shares.

What are William A. Kussell’s reported First Watch (FWRG) holdings after this RSU grant?

Following the RSU grant, Kussell is reported to directly hold 38,747 shares of First Watch common stock. This total reflects his position after the 12,345-share restricted stock unit award disclosed in the Form 4 filing.

Does William A. Kussell pay cash for his First Watch (FWRG) RSU award?

No cash payment is indicated for Kussell’s RSU award. The RSUs are described as a grant of restricted stock units, representing a compensation award that converts into common shares upon vesting if service requirements are met.

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

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Accepted by SEC EDGAR 05/22/2026 - 04:02 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^*

Kussell William A

(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	38,747	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)