---
schema_version: "secwatch.filing_event.v1"
accession: "0001789940-25-000025"
form_type: "8-K"
ticker: "FWRG"
cik: "0001789940"
company_name: "First Watch Restaurant Group, Inc."
filed_at: "2025-03-14T23:59:59+00:00"
generated_at: "2026-05-24T18:44:10.008951+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# First Watch adopts executive severance plan with CEO receiving 2x salary on non-CIC termination

## Summary
- CEO gets 2x base salary + target bonus on qualifying termination; other execs 1.5x; VPs 1x and 0.75x.
- On change in control (CIC), CEO gets 2.5x base salary + 2.5x target bonus; other execs 2x; VPs 1.5x and 0.75x.
- CIC termination within 2 years triggers full vesting of unvested equity awards under the 2021 plan.
- Severance conditioned on execution of general release and compliance with 12-month non-compete and non-solicit.
- Plan supersedes previous severance arrangements; requires participation agreement for each executive.

## SEC filing metadata
- accession: 0001789940-25-000025
- form_type: 8-K
- ticker: FWRG
- cik: 0001789940
- company_name: First Watch Restaurant Group, Inc.
- filed_at: 2025-03-14T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789940/000178994025000025/0001789940-25-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789940/000178994025000025/fwrg-20250305.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001789940-25-000025
- JSON: https://secwatch.observer/filing/0001789940-25-000025.json
- Plain text: https://secwatch.observer/filing/0001789940-25-000025.txt

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