Company: FWRG
Filing Date: 2025-08-07
Form Type: 424B3
Source: 0001628280-25-038995
Chunk: 4

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-08-07
Form: 424B3
Chunk 4
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 stock. |
| Listing:                                                         |     | Our common stock is listed on Nasdaq under the symbol “FWRG.”                                                                                                                                                                                  |

Except as otherwise indicated, the number of shares of our common stock outstanding after this offering is based on 61,023,971 shares outstanding as of August 1, 2025 and: • excludes 2,793,732 shares of our common stock issuable upon the exercise of outstanding stock options at a weighted average exercise price of $9.36 per share, which stock options were granted under our 2017 Omnibus Equity Incentive Plan (the “2017 Plan”); • excludes 1,486,462 shares of our common stock underlying restricted stock units and 875,362 of our common stock issuable upon the exercise of outstanding stock options at a weighted average exercise price of $12.66 per share, in each case, that were granted under the First Watch Restaurant Group, Inc. 2021 Equity Incentive Plan (the “2021 Plan”); and • excludes an aggregate of 4,660,827 shares of our common stock that will be available for future equity awards under the 2021 Plan.

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WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</div>

We file annual, quarterly and current reports, proxy statements and other information with the SEC. The SEC maintains a website ( http://www.sec.gov ) from which interested persons can electronically access our reports, proxy statements and other information regarding us. Our SEC filings are also available free of charge at our website ( https://investors.firstwatch.com ).

We are incorporating by reference into this prospectus supplement and the accompanying prospectus certain information that we have filed with the SEC, which means that we are disclosing important information to you by referring you to documents we have filed separately with the SEC. The documents incorporated by reference are considered part of this prospectus supplement and the accompanying prospectus. This prospectus supplement and the accompanying prospectus incorporate by reference the following (excluding any portions of such documents that have been “furnished” but not “filed” for purposes of the Exchange Act):

• our Annual Report on Form 10-K for the fiscal year ended December 29, 2024, filed with the SEC on March 11, 2025 (the “Annual Report”);

• our Quarterly Reports on Form 10-Q for the quarters ended March 30, 2025