First Watch (NASDAQ: FWRG) CPO has 1,697 shares sold to cover RSU taxes

Rhea-AI Filing Summary

First Watch Restaurant Group Chief People Officer sells shares for tax withholding. Laura Anne Sorensen had 1,697 shares of common stock sold on March 17, 2026 at a weighted average price of $12.52 per share. After this transaction, she directly holds 237,353 shares.

According to the disclosure, the shares were sold by the company’s broker on Sorensen’s behalf under a mandatory sell-to-cover policy tied to the vesting of restricted stock units, meaning the sale was not a discretionary trade and was used to cover tax withholding obligations. The price reflects multiple trades between $11.98 and $12.70, with proceeds allocated pro rata among participating employees.

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^*

Sorensen Laura Anne

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

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	03/17/2026		S(1)		1,697	D	$12.52(2)	237,353	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 number of shares sold by Issuer on behalf of the reporting owner, which sale is mandatory pursuant to Issuer's policies to cover necessary tax withholding obligations in connection with the vesting of restricted stock units. Such sales do not represent a discretionary trade by the reporting owner.

2. The price reported in column 4 represents the weighted average price of the common stock sold by the broker on behalf of the employees of the Issuer as a result of mandatory sell to cover transactions associated with the vesting of restricted stock units. These shares were sold in multiple transactions at prices ranging from $11.98 to $12.70, inclusive. The proceeds of all such sales were allocated to the employees, including the reporting person, on a pro rata basis. The reporting person undertakes to provide to the Issuer, any securityholder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Remarks:

	/s/ Jay Wolszczak, as attorney-in-fact	03/19/2026
	** 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)

FAQ

What did First Watch (FWRG) executive Laura Anne Sorensen report in this Form 4 filing?

Laura Anne Sorensen reported a sale of 1,697 shares of First Watch common stock. The sale was executed by the company’s broker to cover tax withholding tied to restricted stock unit vesting, rather than a discretionary open‑market trade by Sorensen.

How many First Watch (FWRG) shares did Laura Anne Sorensen sell and at what price?

The filing shows 1,697 First Watch common shares sold at a weighted average price of $12.52. Footnotes explain these shares were sold in multiple transactions between $11.98 and $12.70, with the average figure reported for the Form 4 disclosure.

Why were Laura Anne Sorensen’s First Watch (FWRG) shares sold in this transaction?

The shares were sold under First Watch’s mandatory policy to cover tax withholding on vested restricted stock units. The issuer’s broker executed sell‑to‑cover trades on behalf of participating employees, so this event reflects tax obligations rather than a voluntary portfolio decision.

How many First Watch (FWRG) shares does Laura Anne Sorensen hold after this Form 4 transaction?

After the reported sale, Sorensen directly holds 237,353 shares of First Watch common stock. This post‑transaction holding figure comes from the Form 4 and shows her remaining equity position after the mandatory sell‑to‑cover tax transaction.

Was Laura Anne Sorensen’s First Watch (FWRG) stock sale a discretionary open‑market trade?

No, the Form 4 footnotes state the sale was mandatory under company policy to cover tax withholding on restricted stock unit vesting. The issuer’s broker sold the shares and allocated proceeds among employees, so Sorensen did not initiate a discretionary open‑market sale.

Over what price range were Laura Anne Sorensen’s First Watch (FWRG) shares sold?

The Form 4 notes that the broker sold the shares in multiple transactions at prices ranging from $11.98 to $12.70. The reported $12.52 per share is a weighted average price across those individual trades executed for employees’ tax withholding needs.