Hoak Group Amends Noodles & Co Stake

TL;DR

Hoak group updated their Noodles & Co stake filing on 3/26.

AI Summary

Hoak Public Equities, LP, along with associated entities and individuals including J. Hale Hoak and James M. Hoak Jr., has amended their Schedule 13D filing regarding Noodles & Company. The filing, dated March 26, 2024, indicates a change in their beneficial ownership of the company's Class A Common Stock.

Why It Matters

This amendment signals a potential shift in significant shareholder activity or strategy concerning Noodles & Company, which could influence stock performance.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in significant shareholder positions, which can lead to increased volatility.

Key Players & Entities

• Hoak Public Equities, LP (company) — Filing entity
• Noodles & Company (company) — Subject company
• J. Hale Hoak (person) — Group member
• James M. Hoak Jr. (person) — Group member
• Zierk Family 2010 Irrevocable Trust (company) — Group member

FAQ

Key Financial Figures

• $0.01 — ssuer) Class A Common Stock, par value $0.01 per share (Title of Class of Securiti
• $12,802,401.60 — the purchase of Common Stock by HPE was $12,802,401.60. All of the shares of Common Stock bene
• $2,432,492.87 — ock reported by James M. Hoak, Jr., was $2,432,492.87 (all such 650,000 shares held in the Ja
• $622,823.06 — n Stock reported by the Zierk Trust was $622,823.06. J. Hale Hoak (in his capacity as trust
• $612,319 — J. Hale Hoak Child’s Trust), was $612,319.37, such shares being paid for using pe
• $2.19 — Hoak, Jr. 3/8/2024 Purchase 10,000 $2.19 James M. Hoak, Jr. 3/12/2024 Purcha
• $2.00 — Hoak, Jr. 3/12/2024 Purchase 4,595 $2.00 James M. Hoak, Jr. 3/12/2024 Purcha
• $2.10 — Hoak, Jr. 3/12/2024 Purchase 5,000 $2.10 J. Hale Hoak 3/14/2024 Purchase 14
• $1.80 — Hale Hoak 3/14/2024 Purchase 14,037 $1.80 James M. Hoak, Jr. 3/19/2024 Purcha
• $1.81 — Hoak, Jr. 3/19/2024 Purchase 10,000 $1.81 James M. Hoak, Jr. 3/19/2024 Purcha
• $1.87 — ble Trust 3/22/2024 Purchase 50,000 $1.87 James M. Hoak, Jr. 3/22/2024 Purcha
• $1.85 — Hoak, Jr. 3/22/2024 Purchase 5,000 $1.85 Hoak Public Equities, L.P. 3/25/2024

Filing Documents

• hoak-sc13da_032224.htm (SC 13D/A) — 109KB
• ex99-1.htm (EX-99.1) — 6KB
• 0001999371-24-003983.txt ( ) — 116KB

of the Schedule 13D is hereby amended and restated

Item 3 of the Schedule 13D is hereby amended and restated in its entirety as follows: The total amount of funds used for the purchase of Common Stock by HPE was $12,802,401.60. All of the shares of Common Stock beneficially owned by HPE were paid for using working capital of HPE. Hoak Management and Hoak & Co. do not directly hold any Common Stock but may be deemed to beneficially own the Common Stock owned by HPE. Each of James M. Hoak, Jr. and J. Hale Hoak may also be deemed to beneficially own the Common Stock owned by HPE. The total amount of funds used for the purchase of the remaining Common Stock reported by James M. Hoak, Jr., was $2,432,492.87 (all such 650,000 shares held in the James M. Hoak, Jr. IRA), such shares being paid for using personal funds. The total amount of funds used for the purchase of the Common Stock reported by the Zierk Trust was $622,823.06. J. Hale Hoak (in his capacity as trustee of the Zierk Trust) may also be deemed to beneficially own the Common Stock owned by the Zierk Trust. The total amount of funds used for the purchase of the remaining Common Stock reported by J. Hale Hoak (of which 100,000 shares are held in J. Hale Hoak Child’s Trust), was $612,319.37, such shares being paid for using personal funds. Item 5. Interest in Securities of the Issuer.

of the Schedule 13D is hereby amended by amending

Item 5 of the Schedule 13D is hereby amended by amending and replacing in their entirety each of Items 5(a) and 5(c) as follows: (a) As of the date of this Schedule 13D, based upon 44,989,714 shares of Common Stock of the Issuer outstanding as of March 01, 2024 as disclosed on the Issuer’s Form 10-K filed with the SEC on March 08, 2024: i. HPE directly owns an aggregate of 3,227,731 shares of Common Stock, representing approximately 7.17% of the outstanding Common Stock. ii. Hoak Management, in its capacity as HPE’s general partner, may be deemed to beneficially own an aggregate of 3,227,731 shares of Common Stock, representing approximately 7.17% of the outstanding Common Stock. iii. Hoak and Co., in its capacity as the general partner of Hoak Management, may be deemed to beneficially own an aggregate of 3,227,731 shares of Common Stock, representing approximately 7.17% of the outstanding Common Stock. iv. The Zierk Trust owns an aggregate of 200,000 shares of Common Stock, representing approximately 0.44% of the outstanding Common Stock. v. James M. Hoak, Jr. (1) directly owns an aggregate of 650,000 shares of Common Stock (held in the James M. Hoak, Jr. IRA) and (2) in his capacity as Hoak & Co.’s controlling shareholder and Chairman may be deemed to beneficially own 3,227,731 shares of Common Stock, for an aggregate of 3,877,731 shares of Common Stock, representing approximately 8.62% of the outstanding Common Stock. vi. J. Hale Hoak (1) directly owns an aggregate of 200,000 shares of Common Stock (of which 100,000 shares are held in J. Hale Hoak Child’s Trust) and (2) in his capacity as Hoak & Co.’s President and the trustee of the Zierk Trust may be deemed to beneficially own an aggregate of 3,427,731 shares of Common Stock, for an aggregate of 3,627,731 shares of Common Stock representing approximately 8.06% of the outstanding Common Stock. 8 (c) Schedule A hereto sets forth all transactions in the Common Stock w

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this Statement is true, complete and correct. Dated: March 26, 2024 Hoak Public Equities, L.P. Hoak Fund Management, L.P. By: Hoak Fund Management, L.P., its general partner By: Hoak & Co., its general partner By: /s/ J. Hale Hoak By: /s/ J. Hale Hoak J. Hale Hoak J. Hale Hoak President President Hoak & Co. James M. Hoak, Jr. By: /s/ J. Hale Hoak By: /s/ James M. Hoak, Jr J. Hale Hoak James M. Hoak, Jr. President J. Hale Hoak Zierk Family 2010 Irrevocable Trust By: /s/ J. Hale Hoak By: /s/ J. Hale Hoak J. Hale Hoak J. Hale Hoak, Trustee 10 Schedule A Transactions – Last 60 Days Reporting Person Transaction Date Transaction Shares Price Per Share James M. Hoak, Jr. 3/8/2024 Purchase 10,000 $2.19 James M. Hoak, Jr. 3/12/2024 Purchase 4,595 $2.00 James M. Hoak, Jr. 3/12/2024 Purchase 5,000 $2.10 J. Hale Hoak 3/14/2024 Purchase 14,037 $1.80 James M. Hoak, Jr. 3/19/2024 Purchase 10,000 $1.81 James M. Hoak, Jr. 3/19/2024 Purchase 20,000 $1.80 Hoak Public Equities, L.P. 3/19/2024 Purchase 15,423 $1.80 Zierk Family 2010 Irrevocable Trust 3/22/2024 Purchase 50,000 $1.87 James M. Hoak, Jr. 3/22/2024 Purchase 5,000 $1.85 Hoak Public Equities, L.P. 3/25/2024 Purchase 7,116 $1.85 James M. Hoak, Jr. 3/25/2024 Purchase 9,474 $1.87 11

View Full Filing

View this SC 13D/A filing on SEC EDGAR