Sweetgreen Files Material Definitive Agreement 8-K

TL;DR

Sweetgreen signed a big deal, details TBD.

AI Summary

Sweetgreen, Inc. filed an 8-K on May 6, 2024, reporting an entry into a material definitive agreement as of April 30, 2024. The filing does not provide specific details about the agreement itself, only that it is a material definitive agreement.

Why It Matters

This filing indicates a significant new contract or partnership for Sweetgreen, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the material definitive agreement.

Key Players & Entities

• Sweetgreen, Inc. (company) — Registrant
• 0001628280-24-020643 (filing_id) — Accession Number
• April 30, 2024 (date) — Date of earliest event reported
• May 6, 2024 (date) — Filing Date

FAQ

Key Financial Figures

• $0.001 — which registered Class A Common Stock, $0.001 par value per share SG New York Stock E
• $399,844.25 — se Rent May 1, 2024 – March 31, 2025 $399,844.25* $4,398,286.75* April 1, 2025 – Marc
• $4,398,286.75 — 1, 2024 – March 31, 2025 $399,844.25* $4,398,286.75* April 1, 2025 – March 31, 2026 $411
• $411,839.58 — 6.75* April 1, 2025 – March 31, 2026 $411,839.58 $4,942,074.93 April 1, 2026 – March
• $4,942,074.93 — 1, 2025 – March 31, 2026 $411,839.58 $4,942,074.93 April 1, 2026 – March 31, 2027 $424,
• $424,194.76 — 74.93 April 1, 2026 – March 31, 2027 $424,194.76 $5,090,337.18 April 1, 2027 – March
• $5,090,337.18 — 1, 2026 – March 31, 2027 $424,194.76 $5,090,337.18 April 1, 2027 – March 31, 2028 $436,
• $436,920.61 — 37.18 April 1, 2027 – March 31, 2028 $436,920.61 $5,243,047.29 April 1, 2028 – March
• $5,243,047.29 — 1, 2027 – March 31, 2028 $436,920.61 $5,243,047.29 April 1, 2028 – March 31, 2029 $450,
• $450,028.23 — 47.29 April 1, 2028 – March 31, 2029 $450,028.23 $5,400,338.71 April 1, 2029 – March
• $5,400,338.71 — 1, 2028 – March 31, 2029 $450,028.23 $5,400,338.71 April 1, 2029 – March 31, 2030 $463,
• $463,529.07 — 38.71 April 1, 2029 – March 31, 2030 $463,529.07 $5,562,348.87 April 1, 2030 – March
• $5,562,348.87 — 1, 2029 – March 31, 2030 $463,529.07 $5,562,348.87 April 1, 2030 – March 31, 2031 $477,
• $477,434.94 — 48.87 April 1, 2030 – March 31, 2031 $477,434.94 $5,729,219.34 April 1, 2031 – Februa
• $5,729,219.34 — 1, 2030 – March 31, 2031 $477,434.94 $5,729,219.34 April 1, 2031 – February 28, 2032 $4

Filing Documents

• sg-20240430.htm (8-K) — 38KB
• 0001628280-24-020643.txt ( ) — 159KB
• sg-20240430.xsd (EX-101.SCH) — 2KB
• sg-20240430_lab.xml (EX-101.LAB) — 21KB
• sg-20240430_pre.xml (EX-101.PRE) — 12KB
• sg-20240430_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On April 30, 2024, Sweetgreen, Inc. (the " Company ") entered into a sublease agreement (the " Sublease Agreement ") with FPM Development, LLC, a Wyoming limited liability company (the " Subtenant "), pursuant to which the Company will sublease approximately 57,681 square feet of space (the " Phase I Premises ") and approximately 36,400 square feet of space (the " Phase II Premises " and together with the Phase I Premises, the " Premises ") located at 3101 Exposition Boulevard, Los Angeles, California 90018. The Premises is the subject of a Lease Agreement, dated as of May 23, 2019, as amended, by and between Welcome to the Dairy, LLC, a Delaware limited liability company (the " Landlord "), and the Company (the " Lease "), pursuant to which the Company leases the Premises. The Company's principal corporate headquarters are located in the Phase II Premises. In accordance with the Sublease Agreement, substantially all of the Phase I Premises was delivered to the Subtenant on May 1, 2024, and the Company anticipates delivering the remainder of the Phase I Premises and the Phase II Premises on or around August 1, 2024. Pursuant to the terms of the Lease, the Landlord granted its consent to the Sublease Agreement on April 30, 2024. The term of the sublease of the Premises to the Subtenant under the Sublease Agreement commenced on May 1, 2024 and will end on February 28, 2032 (or on such earlier date as the term may sooner expire, as set forth in the Sublease Agreement or the Lease). Pursuant to the Sublease Agreement, commencing on May 1, 2024, the Subtenant will pay the following rent to the Company during the term of the sublease, provided that such rent shall be pro-rated based upon the portion of the Premises that has been delivered to the Subtenant: Period Monthly Base Rent Annual Base Rent May 1, 2024 – March 31, 2025 $399,844.25* $4,398,286.75* April 1, 2025 – March 31, 2026 $411,839.58 $4,942

SIGNATURES

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. SWEETGREEN, INC. Dated: May 6, 2024 By: /s/ Mitch Reback Mitch Reback Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR