---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-020643"
form_type: "8-K"
ticker: "SG"
cik: "0001477815"
company_name: "Sweetgreen, Inc."
filed_at: "2024-05-06T23:59:59+00:00"
generated_at: "2026-06-02T21:56:04.040997+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Sweetgreen subleases ~94,000 sq ft of HQ space; related parties involved

## Summary
- Sublease agreement with FPM Development for approx. 94,081 sq ft at 3101 Exposition Blvd, Los Angeles.
- Phase I (57,681 sq ft) delivered May 1, 2024; Phase II (36,400 sq ft) expected delivered by Aug 1, 2024.
- Sublease term through Feb 28, 2032; rent starts at ~$399,844/month (pro-rated) and escalates annually.
- Landlord receives 100% of sublease profit above Sweetgreen's lease costs in exchange for releasing broker fee reimbursement.
- CEO Jonathan Neman and other executives hold indirect passive interests in entity with indirect equity in the Landlord.

## SEC filing metadata
- accession: 0001628280-24-020643
- form_type: 8-K
- ticker: SG
- cik: 0001477815
- company_name: Sweetgreen, Inc.
- filed_at: 2024-05-06T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1477815/000162828024020643/0001628280-24-020643-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1477815/000162828024020643/sg-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-020643
- JSON: https://secwatch.observer/filing/0001628280-24-020643.json
- Plain text: https://secwatch.observer/filing/0001628280-24-020643.txt

## Key facts
- Material Agreements
  Sweetgreen, Inc. entered into Sublease Agreement with FPM Development, LLC valued at Monthly base rent ranging from $399,844.25 to $491,757.99; annual base rent from $4,398,286.75 to $5 (effective 2024-04-30).
  - Action: entry
  - Agreement: lease
  - Counterparty: FPM Development, LLC
  - Value: Monthly base rent ranging from $399,844.25 to $491,757.99; annual base rent from $4,398,286.75 to $5
  - Effective: 2024-04-30
  source text: On April 30, 2024, Sweetgreen, Inc. (the “ Company ”) entered into a sublease agreement (the “ Sublease Agreement ”) with FPM Development, LLC, a Wyoming limited liability company (the “ Subtenant ”), pursuant to which the Company will sublease approximately 57,681 square feet of space (the “ Phase I Premises ”) and approximately 36,400 square feet of space (the “ Phase II Premises ” and together with the Phase I Premises, the “ Premises ”) located at 3101 Exposition Boulevard, Los Angeles, California 90018.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1477815/000162828024020643/0001628280-24-020643-index.htm
- Material Agreements
  Sweetgreen, Inc. amended Letter Agreement with Welcome to the Dairy, LLC valued at Landlord receives 100% of Company's profits under Sublease in excess of amounts payable under Lease; (effective 2024-04-30).
  - Action: amendment
  - Agreement: lease
  - Counterparty: Welcome to the Dairy, LLC
  - Value: Landlord receives 100% of Company's profits under Sublease in excess of amounts payable under Lease;
  - Effective: 2024-04-30
  source text: In connection with the Landlord’s consent to the Sublease Agreement, the Company and the Landlord entered into a letter agreement, dated as of April 30, 2024, modifying the terms of the Lease (the “ Letter Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1477815/000162828024020643/0001628280-24-020643-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.