Company: FWRG
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001789940-25-000031
Chunk: 42

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 42
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 limit is $1,000,000 in the year such director is first elected to serve as a director on the Board.

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### DIRECTOR COMPENSATION
T he Board has approved a compensation framework for our directors that are not employees of the Company and not employees of Advent (“Non-Employee Director Compensation”) for their service on the Board and its committees. Effective at the beginning of the Company’s current fiscal year ending December 28, 2025, the cash component of the Non-Employee Director Compensation framework was increased to reflect an $80,000 base retainer; $15,000 for service as a member of the Audit Committee and $30,000 for service as the Audit Committee Chair; $12,500 for service as a member of the Compensation Committee and $25,000 for service as the Compensation Committee Chair; $11,000 for service as a member of the Nominating and Corporate Governance Committee and $22,000 for service as the Nominating and Corporate Governance Committee Chair. For fiscal 2024, the equity component of the Non-Employee Director Compensation framework granted to non-employee directors that are not employees of Advent included restricted stock units with a base $100,000 grant date fair value together with an additional $50,000 grant date fair value for our Chair. On the day following the annual meeting of stockholders, each eligible director received a number of restricted stock units with a value equal to the amount indicated above, calculated by using the closing price of our Common Stock on the day following the annual meeting of stockholders. The restricted stock units will vest on the first anniversary of the grant date, subject to a director’s continued membership on the Board as of such date. The number of restricted stock units were calculated by dividing the grant date fair value by the closing price of our Common Stock on the grant date ($19.25 on May 23, 2024) and rounding down to the nearest whole number. Effective July 2024, the equity component of the Non-Employee Director Compensation framework awarded to our non-employee directors that are not employees of Advent was increased to reflect a base $140,000 grant date fair value together with an additional $60,000 grant date fair value for our Chair.

The following table sets forth information concerning the compensation of our directors (other than our CEO and our directors that are employees of Advent who do not participate in the Company’s Non-Employee Director Compensation framework) for fiscal 2024. Compensation information