FMR LLC discloses 10.9% First Watch stake (FWRG) in 13G/A

Rhea-AI Filing Summary

FMR LLC has disclosed a significant ownership position in First Watch Restaurant Group, Inc. In this amended Schedule 13G, FMR LLC reports beneficial ownership of 6,664,673.92 shares of First Watch common stock, representing 10.9% of the class as of the January 30, 2026 event date.

Abigail P. Johnson is also reported as a beneficial owner of the same 6,664,673.92 shares, with sole dispositive power but no voting power. The filing states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of First Watch.

Insights

Institutional Ownership Analyst

FMR LLC reports a 10.9% passive stake in First Watch.

FMR LLC reports beneficial ownership of 6,664,673.92 First Watch Restaurant Group common shares, equal to 10.9% of the class as of the January 30, 2026 event. This crosses the 5% threshold that triggers institutional disclosure.

The filing is on Schedule 13G, which is used for holdings certified as passive. It states the shares were acquired and are held in the ordinary course of business and not to change or influence control, indicating a non-activist posture based on the disclosed information.

Abigail P. Johnson is listed as a reporting person with sole dispositive power over the same 6,664,673.92 shares but no voting power, reflecting control relationships within the FMR structure. Subsequent ownership updates, if any, would appear in later beneficial ownership reports.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

FIRST WATCH RESTAURANT GROUP INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

33748L101

(CUSIP Number)

01/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 33748L101

1

Names of Reporting Persons

FMR LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 6,660,798.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,664,673.92
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,664,673.92

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.9 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 33748L101

1

Names of Reporting Persons

Abigail P. Johnson

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,664,673.92
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,664,673.92

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.9 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FIRST WATCH RESTAURANT GROUP INC
(b)	Address of issuer's principal executive offices: 8725 PENDERY PLACE,SUITE 201,BRADENTON,FL,US,34201
Item 2.
(a)	Name of person filing: FMR LLC
(b)	Address or principal business office or, if none, residence: 245 Summer Street, Boston, Massachusetts 02210
(c)	Citizenship: Not applicable
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 33748L101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 6664673.92
(b)	Percent of class: 10.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page.
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 6664673.92
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of FIRST WATCH RESTAURANT GROUP INC. No one other person's interest in the COMMON STOCK of FIRST WATCH RESTAURANT GROUP INC is more than five percent of the total outstanding COMMON STOCK.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See attached Exhibit 99.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FMR LLC

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries*
Date:	02/05/2026

Abigail P. Johnson

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of January 26, 2023, by and on behalf of Abigail P. Johnson**
Date:	02/05/2026

Comments accompanying signature: * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. ** This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 31, 2023, accession number: 0000315066-23-000038.

Exhibit Information

Please see Exhibit 99 for 13d-1(k) (1) agreement.

FAQ

What percentage of First Watch (FWRG) does FMR LLC currently own?

FMR LLC reports beneficial ownership of 6,664,673.92 First Watch common shares, representing 10.9% of the outstanding class. This level of ownership makes FMR a significant institutional holder and requires ongoing disclosure through beneficial ownership filings when positions change materially.

Is FMR LLC’s stake in First Watch (FWRG) an activist or passive investment?

The filing uses Schedule 13G and certifies the stake is held in the ordinary course of business and not to change or influence control. This language indicates a passive investment posture under the rules referenced in the ownership certification section.

How many First Watch (FWRG) shares does Abigail P. Johnson beneficially own?

Abigail P. Johnson is reported as beneficially owning 6,664,673.92 shares of First Watch common stock, the same amount reported by FMR LLC. She has sole dispositive power over these shares and no voting power, reflecting her role within the ownership structure.

What voting and dispositive powers does FMR LLC report over FWRG shares?

FMR LLC reports sole voting power over 6,660,798 First Watch shares and sole dispositive power over 6,664,673.92 shares. It reports no shared voting or dispositive power, clarifying how control over voting and sale decisions is allocated internally.

When did the ownership event for FMR LLC’s First Watch (FWRG) stake occur?

The ownership event that triggered this amended Schedule 13G is dated January 30, 2026. That date is used in the filing to anchor when the reported 10.9% beneficial ownership level in First Watch common stock became relevant for disclosure purposes.

Does any other person hold more than 5% of FWRG through FMR’s structure?

The filing states that one or more other persons may receive dividends or sale proceeds from First Watch stock held by FMR-related entities, but that no single such person has an interest in more than 5% of the outstanding common stock.