Arcos Dorados (NYSE: ARCO) CFO details share and cash-settled RSU holdings

Rhea-AI Filing Summary

Arcos Dorados Holdings Inc. Chief Financial Officer Mariano Tannenbaum filed an initial ownership report showing direct holdings of 64,537 Class A common shares. He also holds Phantom Restricted Stock Units tied to 22,526, 19,385 and 32,224 underlying Class A shares, vesting on May 10, 2026, May 10, 2027, and May 10, 2028. These Phantom RSUs are cash-settled based on the closing share price at vesting plus any dividends since grant.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Tannenbaum Mariano

(Last) (First) (Middle)

RIO NEGRO 1338, FIRST FLOOR

(Street)

MONTEVIDEO 11100

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Arcos Dorados Holdings Inc. [ ARCO ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A common share	64,537	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Restricted Stock Unit	05/10/2026(1)	05/10/2026(1)	Class A common share	22,526	(1)	D
Phantom Restricted Stock Unit	05/10/2027(1)	05/10/2027(1)	Class A common share	19,385	(1)	D
Phantom Restricted Stock Unit	05/10/2028(1)	05/10/2028(1)	Class A common share	32,224	(1)	D

Explanation of Responses:

1. Each Phantom Restricted Stock Unit ("Phantom RSU") represents the cash equivalent of the closing price of one Class A common share on the vesting date, plus any dividends paid on the Class A common share, if any, since the grant date. The date exercisable and expiration date represent the vesting date for this Phantom RSU. Each Phantom RSU will be settled in cash promptly following the vesting date.

Remarks:

	/s/ Roman Ajzen, attorney-in-fact on behalf of Mariano Tannenbaum	03/18/2026
	** Signature of Reporting Person	Date
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 5 (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.
* Form 3: SEC 1473 (03-26)

FAQ

What insider position did ARCO CFO Mariano Tannenbaum report?

Mariano Tannenbaum reported direct ownership of 64,537 Class A common shares of Arcos Dorados Holdings Inc. He also reported cash-settled Phantom Restricted Stock Units linked to additional underlying Class A shares that vest on specified future dates.

How many Phantom RSUs tied to ARCO shares does the CFO hold?

The CFO holds Phantom Restricted Stock Units linked to 22,526, 19,385, and 32,224 underlying Class A common shares. Each Phantom RSU represents the cash equivalent of one share’s closing price on vesting, plus any dividends since grant.

When do Mariano Tannenbaum’s Phantom RSUs tied to ARCO vest?

The reported Phantom Restricted Stock Units vest on May 10, 2026, May 10, 2027, and May 10, 2028. On each vesting date, they are settled in cash based on the Class A share’s closing price and accumulated dividends.

Are ARCO CFO Mariano Tannenbaum’s Phantom RSUs settled in stock or cash?

The Phantom Restricted Stock Units are settled in cash, not stock. Each unit pays the cash equivalent of one Class A common share’s closing price on the vesting date, plus any dividends paid on the share since the grant date.

Does this ARCO insider filing show any stock purchases or sales?

The filing lists holdings rather than transactions such as open-market purchases or sales. It reports the CFO’s current Class A common share position and his outstanding Phantom Restricted Stock Units with their vesting and cash-settlement terms.