NOODLES & Co: insider trades · United States · SEC (Form 4)

About NOODLES & Co

Noodles & Company (NASDAQ: NDLS) is a United States-listed restaurant company focused on fast-casual noodle and pasta dishes, complemented by soups, salads, and appetizers. The business opened its first location in 1995 with a clear concept: to serve globally inspired recipes from multiple cuisines under one roof, prepared to order and positioned around freshness, convenience, and everyday value. Its corporate headquarters is in Broomfield, Colorado, United States. From an equity-investor perspective, Noodles & Company sits in the middle of the restaurant value chain: it is not a pure quick-service burger operator, nor a full-service casual dining group. Instead, it targets consumers looking for a differentiated, customizable meal with better variety than many standard fast-food menus. The company operates as a single reportable segment and combines company-owned and franchised restaurants. As of December 31, 2024, it reported 463 restaurants across 31 states, including 371 company-owned units and 92 franchise locations. In an earlier SEC filing dated October 1, 2024, it reported 471 systemwide restaurants, indicating a modestly changing footprint. The footprint is essentially domestic, with all meaningful exposure concentrated in the United States. Noodles & Company’s competitive position is built on brand differentiation rather than scale leadership. It competes in a crowded fast-casual market against broader concepts with larger advertising budgets and more diversified menus. Its relative strengths are its globally inspired menu, made-to-order preparation, digital ordering channels, third-party delivery access, and the fact that noodle-based dishes tend to travel well for off-premise consumption. Management has also highlighted menu variety and convenience as important business strengths. Recent developments suggest a company still in turnaround mode. Noodles & Company completed a 1-for-8 reverse stock split effective February 18, 2026, a move often associated with maintaining exchange compliance and supporting the share price profile. The company’s recent SEC filings also discuss a strategic review, restaurant closures for underperforming units, and continued pressure from commodity inflation, packaging costs, labor, and financing conditions. For investors, NDLS remains a U.S. NASDAQ-listed recovery story: a niche fast-casual brand with a recognizable concept, but one that still needs disciplined execution, portfolio optimization, and stable same-store sales momentum to strengthen its investment case.