Company: FWRG
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001789940-25-000031
Chunk: 3

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 3
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 | 16 |
| EXECUTIVE COMPENSATION                                                |     | 18 |
| OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END                          |     | 25 |
| DIRECTOR COMPENSATION                                                 |     | 27 |
| SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT        |     | 29 |
| PROPOSAL2: AUDITOR RATIFICATION PROPOSAL                              |     | 32 |
| AUDITOR FEES AND SERVICES                                             |     | 33 |
| POLICY FOR APPROVAL OF AUDIT AND PERMITTED NON-AUDIT SERVICES         |     | 33 |
| REPORT OF THE AUDIT COMMITTEE                                         |     | 33 |
| CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS                        |     | 35 |
| OTHER MATTERS                                                         |     | 36 |

### PROXY STATEMENT
This Proxy Statement contains information relating to the solicitation of proxies by the Board of Directors (the “Board”) of First Watch Restaurant Group, Inc. (“First Watch” or the “Company”) for use at our 2025 Annual Meeting of Stockholders (the “Annual Meeting”). Our Annual Meeting will be held at 8:00 a.m. Eastern Time on Wednesday, May 21, 2025 by means of a live, virtual-only online webcast.

Only stockholders of record as of the close of business on March 24, 2025 (the “Record Date”) are entitled to receive notice of the Annual Meeting and to vote during the Annual Meeting or any adjournments or postponements thereof. As of the Record Date, there were 60,968,674 shares of common stock, par value $0.01 per share (the “Common Stock”) issued and outstanding and entitled to vote during the Annual Meeting. In accordance with the rules of the Securities and Exchange Commission (“SEC”), we are furnishing our proxy materials, including this proxy statement and our Form 10-K (the “Form 10-K”) for the fiscal year ended December 29, 2024, to our stockholders via the Internet. On or about April 8, 2025, we will mail to our stockholders a Notice of Internet Availability of Proxy Materials (the “Notice of Internet Availability”) that contains instructions on how to access our proxy materials on the Internet and how to vote. Stockholders may request to receive all future proxy materials in printed form by mail or electronically by email by following the instructions contained