# EDGAR Filing Document

**Accession Number:** 0001034196
**File Stem:** 0001140361-25-021575
**Filing Date:** 2025-6
**Character Count:** 14004
**Document Hash:** 819996af61b60670b4281d937ee442d4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-021575.hdr.sgml**: 20250605

**ACCESSION NUMBER**: 0001140361-25-021575

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250603

**FILED AS OF DATE**: 20250605

**DATE AS OF CHANGE**: 20250605

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** ADVENT INTERNATIONAL, L.P.
- **CENTRAL INDEX KEY:** 0001034196

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40866
- **FILM NUMBER:** 251027741

**BUSINESS ADDRESS:**
- **STREET 1:** 800 BOYLSTON STREET SUITE 3300
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 6179510555

**MAIL ADDRESS:**
- **STREET 1:** 800 BOYLSTON STREET SUITE 3300
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER NAME:**
- **FORMER CONFORMED NAME:** ADVENT INTERNATIONAL CORP/MA
- **DATE OF NAME CHANGE:** 19990325
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** ADVENT INTERNATIONAL GP, LLC
- **CENTRAL INDEX KEY:** 0001984045

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40866
- **FILM NUMBER:** 251027740

**BUSINESS ADDRESS:**
- **STREET 1:** 800 BOYLSTON STREET SUITE 3300
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 617-951-0555

**MAIL ADDRESS:**
- **STREET 1:** 800 BOYLSTON STREET SUITE 3300
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** First Watch Restaurant Group, Inc.
- **CENTRAL INDEX KEY:** 0001789940
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-EATING PLACES [5812]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 824271369
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1228

**BUSINESS ADDRESS:**
- **STREET 1:** 8725 PENDERY PLACE, SUITE 201
- **CITY:** BRADENTON
- **STATE:** FL
- **ZIP:** 34201
- **BUSINESS PHONE:** 941-907-9800

**MAIL ADDRESS:**
- **STREET 1:** 8725 PENDERY PLACE, SUITE 201
- **CITY:** BRADENTON
- **STATE:** FL
- **ZIP:** 34201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AI Fresh Super Holdco, Inc.
- **DATE OF NAME CHANGE:** 20191001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Al Fresh Super Holdco, Inc.
- **DATE OF NAME CHANGE:** 20191001

## Exhibit 99.1

------

#### EXHIBIT 99.1
<u>Footnotes to Form 4</u>

<sup>(1)</sup> Represents shares of common stock sold by the following entities: (i) 269,694 shares of common stock sold by Advent International GPE VIII Limited Partnership; (ii) 292,729 shares of common stock sold by Advent International GPE VIII-B-1 Limited Partnership; (iii) 218,263 shares of common stock sold by Advent International GPE VIII-B-2 Limited Partnership; (iv) 340,822 shares of common stock sold by Advent International GPE VIII-B-3 Limited Partnership; (v) 822,588 shares of common stock sold by Advent International GPE VIII-B Limited Partnership; (vi) 134,357 shares of common stock sold by Advent International GPE VIII-C Limited Partnership; (vii) 114,908 shares of common stock sold by Advent International GPE VIII-D Limited Partnership; (viii) 34,051 shares of common stock sold by Advent International GPE VIII-F Limited Partnership; (ix) 301,675 shares of common stock sold by Advent International GPE VIII-H Limited Partnership; (x) 280,522 shares of common stock sold by Advent International GPE VIII-I Limited Partnership; (xi) 275,671 shares of common stock sold by Advent International GPE VIII-J Limited Partnership (the funds set forth in the foregoing clauses (i)-(xi), the "Advent VIII Luxembourg Funds"); (xii) 632,604 shares of common stock sold by Advent International GPE VIII-A Limited Partnership; (xiii) 127,967 shares of common stock sold by Advent International GPE VIII-E Limited Partnership; (xiv) 217,039 shares of common stock sold by Advent International GPE VIII-G Limited Partnership; (xv) 129,347 shares of common stock sold by Advent International GPE VIII-K Limited Partnership;(xvi) 117,554 shares of common stock sold by Advent International GPE VIII-L Limited Partnership (the funds set forth in the foregoing clauses (xii)-(xvi), the "Advent VIII Cayman Funds"); (xvii) 9,955 shares of common stock sold by Advent Partners GPE VIII Limited Partnership; (xviii) 62,037 shares of common stock sold by Advent Partners GPE VIII Cayman Limited Partnership; (xix) 11,963 shares of common stock sold by Advent Partners GPE VIII-A Limited Partnership; (xx) 8,275 shares of common stock sold by Advent Partners GPE VIII-A Cayman Limited Partnership; and (xxi) 97,979 shares of common stock sold by Advent Partners GPE VIII-B Cayman Limited Partnership (the funds set forth in the foregoing clauses (xvii)-(xxi), the "Advent VIII Partners Funds" and together with the Advent VIII Luxembourg Funds and the Advent VIII Cayman Funds, the "Advent VIII Funds").<br>

<sup>(2)</sup> Following the reported transactions, Advent International, L.P. (f/k/a Advent International Corporation, "Advent") manages funds that collectively own 14,689,784 shares of common stock of the Issuer, which are represented as follows: (i) 880,388 shares of common stock held by Advent International GPE VIII Limited Partnership; (ii) 955,585 shares of common stock held by Advent International GPE VIII-B-1 Limited Partnership; (iii) 712,499 shares of common stock held by Advent International GPE VIII-B-2 Limited Partnership (iv) 1,112,575 shares of common stock held by Advent International GPE VIII-B-3 Limited Partnership; (v) 2,685,263 shares of common stock held by Advent International GPE VIII-B Limited Partnership; (vi) 438,593 shares of common stock held by Advent International GPE VIII-C Limited Partnership; (vii) 375,104 shares of common stock held by Advent International GPE VIII-D Limited Partnership; (viii) 417,733 shares of common stock held by Advent International GPE VIII-E Limited Partnership; (ix) 111,158 shares of common stock held by Advent International GPE VIII-F Limited Partnership; (x) 708,503 shares of common stock held by Advent International GPE VIII-G Limited Partnership; (xi) 984,788 shares of common stock held by Advent International GPE VIII-H Limited Partnership; (xii) 915,732 shares of common stock held by Advent International GPE VIII-I Limited Partnership; (xiii) 899,896 shares of common stock held by Advent International GPE VIII-J Limited Partnership; (xiv) 383,741 shares of common stock held by Advent International GPE VIII-L Limited Partnership; (xv) 32,494 shares of common stock held by Advent Partners GPE VIII Limited Partnership; (xvi) 39,045 shares of common stock held by Advent Partners GPE VIII-A Limited Partnership; (xvii) 319,841 shares of common stock held by Advent Partners GPE VIII-B Cayman Limited Partnership; (xviii) 2,065,075 shares of common stock held by Advent International GPE VIII-A Limited Partnership; (xxix) 422,243 shares of common stock held by Advent International GPE VIII-K Limited Partnership; (xx) 202,513 shares of common stock held by Advent Partners GPE VIII Cayman Limited Partnership; and (xxi) 27,015 shares of common stock held by Advent Partners GPE VIII-A Cayman Limited Partnership.<br>

<sup>(3)</sup> GPE VIII GP S.a.r.l. is the general partner of the Advent VIII Luxembourg Funds. GPE VIII GP Limited Partnership is the general partner of the Advent VIII Cayman Funds. AP GPE VIII GP Limited Partnership is the general partner of the Advent VIII Partners Funds. Advent International GPE VIII, LLC is the manager of GPE VIII GP S.a.r.l. and the general partner of each of GPE VIII GP Limited Partnership and AP GPE VIII GP Limited Partnership. Advent is the manager of Advent International GPE VIII, LLC, and Advent International GP, LLC is the general partner of Advent, and may each be deemed to have voting and dispositive power over the shares held by the Advent VIII Funds.<br>

<sup>(4)</sup> Each Reporting Person disclaims Section 16 beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, if any, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of any of the reported shares for purposes of Section 16 or any other purpose.<br>

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>ADVENT INTERNATIONAL, L.P.<br><sub>(Last) (First) (Middle)</sub><br>PRUDENTIAL TOWER,<br>800 BOYLSTON STREET, SUITE 3300<br><sub>(Street)</sub><br>BOSTON, MA 02199-8069<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-03 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>First Watch Restaurant Group, Inc. [ FWRG ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>ADVENT INTERNATIONAL GP, LLC<br><sub>(Last) (First) (Middle)</sub><br>PRUDENTIAL TOWER,<br>800 BOYLSTON STREET, SUITE 3300<br><sub>(Street)</sub><br>BOSTON, MA 02199-8069<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-03 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>First Watch Restaurant Group, Inc. [ FWRG ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

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|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-06-03 |  | S |  | 4500000 | D | $14.7 | 14689784 | I | See footnotes<sup>(1)</sup> |

---

## Table II - Derivative Securities

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|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) See Exhibit 99.1 for text of footnote (1).

**Remarks:**
Exhibit 99.1 (Footnotes to Form 4) is incorporated by reference.

**Signature:** ADVENT INTERNATIONAL, L.P., By: Advent International GP, LLC, its General Partner, By: /s/ Neil Crawford, Name: Neil Crawford, Title: Vice President of Finance  
**Date:** 2025-06-05

**Signature:** ADVENT INTERNATIONAL GP, LLC, By: /s/ Neil Crawford, Name: Neil Crawford, Title: Vice President of Finance  
**Date:** 2025-06-05

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**