Welcome to our dedicated page for First Watch Restaurant Group SEC filings (Ticker: FWRG), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
First Watch Restaurant Group, Inc. filings document formal disclosures for a Nasdaq-listed restaurant operator with company-owned restaurant sales and franchise revenue. Recent 8-K reports furnish quarterly and annual operating results, preliminary operating metrics, Regulation FD supplemental presentations, and exhibits tied to press releases about same-restaurant sales, traffic, restaurant openings, and financial outlook.
The filing record also includes definitive proxy materials covering governance, executive compensation and equity awards, Form 8-K officer-change disclosures, and capital-markets documents related to common stock sold by selling shareholders under a registration statement. These disclosures record leadership structure, emerging growth company status, common stock terms, and event-specific exhibits such as underwriting agreements and corrected earnings materials.
Lilak Stephanie reported acquisition or exercise transactions in this Form 4 filing.
First Watch Restaurant Group director Stephanie Lilak received a stock-based compensation award. She was granted 12,345 shares of common stock in the form of restricted stock units at no cost. These RSUs vest on May 21, 2027, if she remains in continuous service, bringing her reported direct holdings to 39,361 shares.
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.
First Watch Restaurant Group, Inc. reported the results of its Annual Meeting of Stockholders held on May 20, 2026. Stockholders elected three Class II directors—Irene Chang Britt, Charles Jemley, and Rachel Tipograph—to serve until the 2029 annual meeting, with Britt receiving 32,303,226 votes for, Jemley 44,382,160, and Tipograph 47,187,755, alongside 9,564,764 broker non-votes for each.
Stockholders approved, on a non-binding advisory basis, the compensation of named executive officers, with 31,155,497 votes for and 17,633,414 against. They also supported holding an annual advisory vote on executive compensation, as 46,337,934 votes favored a one-year frequency. In addition, stockholders ratified PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending December 27, 2026, with 56,336,412 votes for and 2,303,109 against.
First Watch Restaurant Group, Inc. reported solid top-line growth but remained slightly unprofitable in the first quarter of 2026. Total revenues rose to $330.9 million, up 17.3% from $282.2 million a year earlier, driven by new restaurant openings and 2.8% same-restaurant sales growth.
System-wide sales reached $367.6 million, while restaurant-level operating profit margin improved to 18.5% from 16.5%, helped by lower food and beverage cost ratios and better labor leverage. However, higher general and administrative expenses, depreciation and interest costs led to a net loss of $2.7 million, or $0.04 per share, compared with a $0.8 million loss in the prior-year quarter. Adjusted EBITDA increased to $27.8 million with an 8.4% margin. The company ended the quarter with 648 system-wide restaurants, including 572 company-owned locations, and generated $34.5 million of operating cash flow while continuing to invest heavily in new units.
First Watch Restaurant Group reported Q1 2026 total revenues of $331.0 million, up 17.3% from $282.2 million a year earlier, with system-wide sales rising 13.8% to $367.6 million. Same-restaurant sales grew 2.8% despite a 2.0% decline in same-restaurant traffic.
The company posted a net loss of $(2.7) million, or $(0.04) per diluted share, compared with a $(0.8) million loss, while Adjusted EBITDA increased to $27.8 million from $22.8 million and Adjusted EBITDA margin improved to 8.4%. Restaurant level operating profit margin expanded to 18.5%, and 16 new system-wide restaurants opened, bringing the total to 648. For fiscal 2026, management reaffirmed same-restaurant sales growth of 1%–3% and total revenue growth of 12%–14%, and updated Adjusted EBITDA guidance to $133–$140 million.
First Watch Restaurant Group, Inc. reported institutional beneficial ownership holdings on a Schedule 13G. The Bank of New York Mellon Corp is shown with 3,957,697 shares representing 6.5% of the class. Related entities BNY Mellon IHC, LLC and MBC Investments Corp are each shown with 3,841,608 shares (6.3%) and Newton Investment Management North America, LLC is shown with 3,702,276 shares (6.1%). The filing lists voting and dispositive power splits across sole and shared categories and states holdings are held in various fiduciary capacities.
BlackRock, Inc. reported beneficial ownership of 3,951,009 shares of First Watch Restaurant Group, Inc. common stock, equal to 6.5% of the class. The Schedule 13G/A (Amendment No. 1) lists 3,867,257 shares of sole voting power and 3,951,009 shares of sole dispositive power. The cover shows a 03/31/2026 reporting date and the filing is signed on 04/27/2026.
Dimensional Fund Advisors reported beneficial ownership of 3,084,886 shares of First Watch Restaurant Group Common Stock, representing 5.0% of the class as of 03/31/2026. The filing shows sole voting power over 3,037,508 shares and sole dispositive power over 3,084,886 shares. The report notes the shares are owned by investment funds advised or sub‑advised by Dimensional and that Dimensional disclaims beneficial ownership.
First Watch Restaurant Group reported fiscal 2025 results, with $1.2 billion in total revenues and $120.9 million in Adjusted EBITDA. System-wide sales reached $1.4 billion and the company ended the year with 633 restaurants (560 company-owned; 73 franchise-owned). The company opened 64 new restaurants, acquired 19 franchise restaurants, and reported an average unit volume of $2.3 million. Management emphasizes aggressive unit growth toward a long-term target of 2,200 domestic units while investing in menu, technology and marketing to drive traffic and repeat visits.
First Watch Restaurant Group, Inc. is holding its 2026 Annual Meeting as a virtual-only webcast on May 20, 2026, asking stockholders to elect three Class II directors, approve executive pay on an advisory basis, set the say‑on‑pay frequency, and ratify PwC as auditor.
The proxy details a nine‑member, largely independent board, committee structures, governance policies, and executive compensation. For fiscal 2025, First Watch reports total revenues of $1.2 billion, up 20.3% from 2024, same‑restaurant sales growth of 3.6%, traffic growth of 0.5%, net income of $19.4 million, and Adjusted EBITDA of $120.9 million.
Named executive officers received 3% base‑salary raises, performance‑based annual cash incentives tied 80% to Adjusted EBITDA and 20% to net unit growth, and RSU awards that vest over multiple years. Special one‑time RSU retention grants with four‑year cliff vesting were approved for the CEO and key executives to reinforce leadership continuity and long‑term stock ownership.