Eisenacher Matthew 4
4 · First Watch Restaurant Group, Inc. · Filed Mar 12, 2026
Research Summary
AI-generated summary of this filing
First Watch (FWRG) Chief Brand Officer Matthew Eisenacher Sells Shares
What Happened
Matthew Eisenacher, Chief Brand Officer of First Watch Restaurant Group (FWRG), disposed of 6,070 shares on 2026-03-10. The reported weighted average sale price was $12.59 per share for total proceeds of approximately $76,421. The filing indicates these sales were mandatory sell-to-cover transactions tied to the vesting of restricted stock units, not discretionary open-market selling.
Key Details
- Transaction date: 2026-03-10; filing date: 2026-03-12 (filed two days after the transaction).
- Reported price: $12.59 weighted average; actual sale prices ranged from $12.40 to $12.73.
- Shares sold (disposed): 6,070; proceeds ≈ $76,421.
- Shares owned after the transaction: not specified in the provided filing excerpt.
- Footnotes: F1 notes the sale was mandatory to cover tax withholding on RSU vesting; F2 explains the weighted average and price range and that the broker sold shares in multiple transactions allocated pro rata to employees.
- Transaction type: reported as S (Sale) but functionally a tax-withholding sale (routine, not a discretionary trade).
Context
Sell-to-cover transactions occur when an employer or broker sells a portion of vested RSUs to satisfy required tax withholdings; they generally do not signal the insider’s voluntary decision to reduce holdings. For retail investors, purchases or voluntary insider buys tend to be more informative about confidence in the company than routine withholding sales.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-03-10$12.59/sh−6,070$76,421→ 69,983 total
Footnotes (2)
- [F1]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.
- [F2]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 $12.40 to $12.73, 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.