Company: FWRG
Filing Date: 2025-04-08
Form Type: ARS
Source: 0001789940-25-000033
Chunk: 122

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-04-08
Form: ARS
Chunk 122
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 25, 2022 (41,754) Increase (6,357) Balance as of December 31, 2023 (48,111) Increase (9,553) Balance as of December 29, 2024 $ (57,664) The Company is subject to examination by federal, state and local jurisdictions, where applicable. As of December 29, 2024, the tax years that remain subject to examination by major tax jurisdictions under the statute of limitations are from the year 2013 and forward. 15. Stockholders’ Equity The Company is authorized to issue 300,000,000 common stock shares with a par value of $0.01 per share and 10,000,000 preferred stock shares with a par value of $0.01 per share pursuant to the Company’s Amended and Restated Certificate of Incorporation. Each share of common stock entitles the holder to one vote for each share of common stock held and common stockholders will not have cumulative voting rights. Common stockholders are entitled to receive dividends, as and if declared by the board of directors. In addition, all common stockholders are entitled to share equally on a share-for-share basis in any assets available for distribution to common stockholders upon liquidation, dissolution, or winding up of the Company after payment is made to the preferred stockholders. During Fiscal 2024, funds managed by Advent International L.P. sold 6,000,000 and 8,000,000 shares through Secondary Offerings that were completed on March 12, 2024 and November 13, 2024, respectively. The selling stockholders sold an additional 900,000 shares of common stock on March 12, 2024 pursuant to the terms of the underwriter’s option associated with the secondary public offering. All net proceeds from the sale of the shares of common stock were distributed to the selling stockholders. During Fiscal 2023, funds managed by Advent International L.P. sold 3,500,000 and 3,000,000 shares through Secondary Offerings that were completed on May 18, 2023 and June 13, 2023 respectively. The selling stockholders sold an additional 525,000 and 450,000 shares of common stock on May 18, 2023 and July 3, 2023, respectively, pursuant to the terms of the underwriter’s option associated with each secondary public offering. All net proceeds from the sale of the shares of common