# EDGAR Filing Document

**Accession Number:** 0001477815
**File Stem:** 0001477815-25-000013
**Filing Date:** 2025-9
**Character Count:** 18275
**Document Hash:** 80ef90f4bf6763e2c0dd63aacad79a95
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001477815-25-000013.hdr.sgml**: 20250904

**ACCESSION NUMBER**: 0001477815-25-000013

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250904

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250904

**DATE AS OF CHANGE**: 20250904

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sweetgreen, Inc.
- **CENTRAL INDEX KEY:** 0001477815
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-EATING PLACES [5812]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 271159215
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41069
- **FILM NUMBER:** 251293977

**BUSINESS ADDRESS:**
- **STREET 1:** 3102 36TH STREET
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90018
- **BUSINESS PHONE:** (323) 990-7040

**MAIL ADDRESS:**
- **STREET 1:** 3102 36TH STREET
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90018

?xml version='1.0' encoding='ASCII'? sg-20250904

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): September 4, 2025**

**SWEETGREEN, INC.**

**(Exact name of registrant as specified in its charter)**

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| | | | |
|:---|:---|:---|:---|
| **Delaware** | **001-41069** | **001-41069** | **27-1159215** |
| (State or other jurisdiction<br>of incorporation) | (Commission<br>File Number) | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |
| **3102 36th Street Los Angeles, CA** | **3102 36th Street Los Angeles, CA** | **90018** | **90018** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) | (Zip Code) |

---

**(323) 990-7040**

(Registrant's telephone number, including area code)

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

□ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| **Class A Common Stock, $0.001 par value per share** | **SG** | **New York Stock Exchange** |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

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**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On September 4, 2025, Sweetgreen, Inc. (the "Company") announced that, on September 1, 2025, Mitch Reback notified the Company of his retirement as the Company's Chief Financial Officer, effective September 21, 2025. The Company also announced on September 4, 2025 that Jamie McConnell has been appointed to serve as the Company's Chief Financial Officer, beginning September 22, 2025. In her role as the Company's Chief Financial Officer, Ms. McConnell will serve as the Company's principal financial and accounting officer, overseeing the Company's Finance Department, and will report directly to the Company's Co-Founder and Chief Executive Officer, Jonathan Neman.

Ms. McConnell, age 46, previously served as the Chief Accounting and Administrative Officer of Chipotle Mexican Grill ("Chipotle") from October 2024 to August 2025. Prior to that, Ms. McConnell served as the Vice President and Controller of Chipotle from August 2018 to September 2024. Before Chipotle, Ms. McConnell served in various senior finance and accounting roles at Aviation Capital Group, Rent-A-Center, Allergan, and Deloitte. Ms. McConnell holds a Bachelor of Sciences in Accounting from the University of Southern California.

In connection with her appointment, the Company entered into an agreement with Ms. McConnell (the "Employment Agreement") setting forth the terms of her employment, effective September 22, 2025. Pursuant to the Employment Agreement, Ms. McConnell will receive an annual base salary of $550,000, and will be eligible to earn an annual discretionary bonus with a target amount equal to 75% of her annual base salary based on the achievement of certain corporate and/or individual objectives and milestones that are determined by the Board of Directors (the "Board") of the Company or the Compensation Committee of the Board (the "Compensation Committee"). Additionally, the Employment Agreement provides that, subject to the approval of the Board or the Compensation Committee, Ms. McConnell will receive a new hire equity grant consisting of (i) an option to purchase 300,000 shares of Class A Common Stock of the Company and (ii) an award of restricted stock units covering 150,000 shares of Class A Common Stock of the Company (collectively, the "Equity Awards"). The anticipated Equity Awards will be governed by the terms of the Company's 2021 Equity Incentive Plan and vest over a four-year period, with 25% of the Equity Awards vesting on the first anniversary of the vesting commencement date and the remainder vesting thereafter in 12 equal quarterly installments, subject to Ms. McConnell's continuous service with the Company as of each such vesting date. The Employment Agreement further provides that Ms. McConnell will be entitled to receive certain severance benefits in the event her employment is terminated by the Company without cause or if she resigns for good reason, provided she remains in compliance with the terms of the Employment Agreement, and conditioned upon Ms. McConnell entering into and not revoking a separation agreement that contains a release of claims.

The foregoing description of the Employment Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the complete text of the Employment Agreement, which the Company intends to file with its Quarterly Report on Form 10-Q for the quarterly period ending September 28, 2025.

There are no arrangements or understandings between Ms. McConnell and any other persons pursuant to which she was selected as the Company's Chief Financial Officer. There are also no family relationships between Ms. McConnell and any directors or executive officers of the Company, and Ms. McConnell is not a party to any transaction that would require disclosure pursuant to Item 404(a) of Regulation S-K. We also anticipate that Ms. McConnell will enter into the Company's standard form of indemnification agreement between the Company and its directors and executive officers.

Following Mr. Reback's notice of retirement, the Company entered into an agreement with Mr. Reback (the "Consulting Agreement"), pursuant to which Mr. Reback will provide consulting services to the Company for a six-month period immediately following his retirement on September 21, 2025 to facilitate the transition of the Company's Chief Financial Officer role from Mr. Reback to Ms. McConnell. Pursuant to the terms of the Consulting Agreement, Mr. Reback will provide up to 35 hours of consulting services to the Company each month. In consideration for those services, (i) Mr. Reback shall be paid a fee of $7,500 per month, (ii) Mr. Reback's outstanding and unvested stock option and restricted stock unit awards from the Company will continue to vest for the duration of the Consulting Agreement, and, (iii) provided that the Consulting Agreement is not terminated by either party prior to March 21, 2026, Mr. Reback's then-outstanding and unvested stock option and restricted stock unit awards from the Company will be accelerated such that all such unvested equity will become fully vested on that date. Additionally, the Company expects to extend the exercise periods for Mr. Reback's vested stock options for the shorter period of (i) three years following the termination of the Consulting Agreement and (ii) the maximum term of such stock options, provided that Mr. Reback enters into and does not revoke a separation agreement that contains a release of claims.

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The foregoing description of the Consulting Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the complete text of the Consulting Agreement, which the Company intends to file with its Quarterly Report on Form 10-Q for the quarterly period ending September 28, 2025.

**Item 7.01 Regulation FD Disclosure.**

On September 4, 2025, the Company issued a press release announcing Ms. McConnell's appointment and Mr. Reback's retirement as discussed in Item 5.02. A copy of the press release issued in connection with this announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Item 7.01 and the related information in Exhibit 99.1 attached hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

(d)Exhibits

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Press release issued by Sweetgreen](pressrelease-sweetgreenann.htm)[,](pressrelease-sweetgreenann.htm)[Inc. on](pressrelease-sweetgreenann.htm)[September](pressrelease-sweetgreenann.htm)[4, 2025](pressrelease-sweetgreenann.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | **SWEETGREEN, INC.** | **SWEETGREEN, INC.** |
| Dated: September 4, 2025 | By: | /s/ Jonathan Neman |
|  |  | Jonathan Neman |
|  |  | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![sgheaderphoto.jpg](sgheaderphoto.jpg)

**Sweetgreen Announces Retirement of Mitch Reback and Appointment of Jamie McConnell as Chief Financial Officer**

**LOS ANGELES--(BUSINESS WIRE)**-- Sweetgreen, Inc. (NYSE: SG), the mission-driven restaurant brand connecting more people to real food, today announced the retirement of Mitch Reback, and the appointment of Jamie McConnell, as the company's Chief Financial Officer. Reback's retirement will be effective on September 21, 2025, and McConnell's appointment will be effective on September 22, 2025. Reback will remain engaged with the Company in an advisory role for six months to support the transition.

Reback had served as Chief Financial Officer of Sweetgreen since 2015. He joined the company in its early stages, when it was a fast-growing regional brand with just a handful of locations. Over the past decade, Reback built the company's financial infrastructure from the ground up, implementing critical systems, controls, and processes. He played a central role in guiding Sweetgreen through key milestones, including a successful transition to a public company. Under his leadership, Sweetgreen has established a strong financial foundation that the company believes will support sustained, long-term profitable growth.

"It has been a thrilling journey to serve as Sweetgreen's CFO for the past ten years. During that time, we grew from a small regional restaurant chain into a national brand. It is particularly gratifying to see how the brand is embraced by so many diverse communities. While we have come far, I'm confident Sweetgreen's best days remain ahead," said Reback. "I am delighted to welcome Jamie McConnell as our new CFO. Jamie brings strong financial expertise and leadership that will help guide Sweetgreen through its next chapter of growth."

"Sweetgreen is deeply grateful for Mitch's guidance, mentorship, and embodiment of our culture over the past decade. Beyond his leadership, Mitch has been a close friend and trusted partner to me personally, and his impact on both Sweetgreen and my own journey cannot be overstated. Under his guidance, we strengthened our financial model and positioned the company for profitable growth in the years ahead," said Jonathan Neman, Co-Founder and CEO of Sweetgreen. "I'm excited to welcome Jamie McConnell as our new CFO, as she will play a pivotal role in efficiently scaling Sweetgreen. Jamie is a dynamic financial leader with deep experience guiding complex organizations through growth and transformation. She brings invaluable expertise and will be a trusted partner in our next growth phase."

McConnell brings more than 20 years of financial leadership experience across the restaurant, retail, and e-commerce industries. She is recognized for her strategic foresight, ability to scale high-growth brands and track record of leveraging technology to drive performance. Most recently, Jamie served as Chipotle's Chief Accounting and Administrative Officer. Prior to Chipotle, McConnell served in a variety of senior finance & accounting roles at Aviation Capital Group, Rent-A-Center, Allergan, and Deloitte. McConnell holds a B.S. in Accounting from the University of Southern California.

"Sweetgreen's mission to connect people with real, high quality culinary experiences has always inspired me," said McConnell. "I'm excited to partner with the team to scale the business, drive sustainable growth, and create meaningful value for all stakeholders. Together, we will continue to innovate and build healthier communities."

**About Sweetgreen:**

Sweetgreen (NYSE: SG) is on a mission to build healthier communities by connecting people to real food. Since 2007, the brand has reimagined what fast food can be: fresh, flavorful, and built on real relationships with growers. Born at the farmers market, Sweetgreen's supply chain now spans the country, still rooted in relationships with local farmers and growers. That foundation continues to guide its seasonal, chef-crafted menus across more than 260 locations nationwide, creating spaces where food, people, and purpose come together.

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![sgheaderphoto.jpg](sgheaderphoto.jpg)

To learn more about Sweetgreen, its menu, and its loyalty program, visit www.Sweetgreen.com. Follow @Sweetgreen on Instagram, Facebook and X.

**Contacts:**

Sweetgreen Contact, Rebecca Nounou

Investor Relations:

ir@sweetgreen.com

Media:

press@sweetgreen.com

**Forward-Looking Statements**

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the retirement of Mr. Reback as the company's Chief Financial Officer and his subsequent advisory role; the appointment Ms. McConnell as the company's Chief Financial Officer; the belief that the company's financial foundation will support long term, profitable growth; confidence in the company's future; and the company's growth and Ms. McConnell's role in that growth. In some cases, you can identify forward-looking statements because they contain words or phrases such as "anticipate," "are confident that," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "opportunity," "plan," "potential," "predict," "project," "should," "target," "toward," "will," or "would," or the negative of these words or other similar terms or expressions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are based on information available at the time those statements are made and are based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control, that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including risks and uncertainties included in the reports we file with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 29, 2024 and subsequently filed Quarterly Reports on Form 10-Q. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

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