Company: FWRG
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001789940-25-000072
Chunk: 28

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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29, 2024759,721 $20.67 $14,207 Granted 1,028,509 $16.75 Forfeited(7,969)$20.06 Vested (292,922)$19.42 Outstanding, June 29, 20251,487,339 $18.21 $23,961 The aggregate intrinsic value is based on the closing price of the Company’s common stock on Nasdaq of $16.11 and $18.70 on June 27, 2025 and December 27, 2024, the last trading days of the periods, respectively.Stock-based compensation expense, net of amounts capitalized, was $2.8 million and $2.5 million during the thirteen weeks ended June 29, 2025 and June 30, 2024, respectively, and $5.0 million and $4.3 million during the twenty-six weeks ended June 29, 2025 and June 30, 2024, respectively. Capitalized stock-based compensation included in property, fixtures and equipment totaled $0.1 million for the twenty-six weeks ended June 29, 2025. The total related income tax benefit for stock-based compensation expense was $0.2 million and $0.1 million during the thirteen weeks ended June 29, 2025 and June 30, 2024, respectively, and $1.2 million and $1.4 million during the twenty-six weeks ended June 29, 2025 and June 30, 2024, respectively.Unrecognized stock-based compensation expenseThe following represents unrecognized stock-based compensation expense and the remaining weighted average vesting period as of June 29, 2025:UNRECOGNIZED STOCK-BASED COMPENSATION EXPENSE (in thousands) REMAINING WEIGHTED AVERAGE VESTING PERIOD  (in years)Stock options$8 0.3Restricted stock units $23,112 2.5

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Table of ContentsFIRST WATCH RESTAURANT GROUP, INC.NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (continued)

12.    Income Taxes 

THIRTEEN WEEKS ENDEDTWENTY-SIX WEEKS ENDED(in thousands)JUNE 29, 2025JUNE 30, 2024JUNE 29, 2025JUNE 30, 2024