Arcos Dorados (NYSE: ARCO) director discloses share and Phantom RSU stakes

Rhea-AI Filing Summary

Arcos Dorados Holdings Inc. director Hernandez Artigas Carlos filed an initial ownership report showing his current stake in the company. He holds 49,774 Class A common shares directly, 291,211 Class A shares indirectly through Marlies Capital LLC, and 2,569 Class A shares in a Simplified Employee Pension account.

He also holds Phantom Restricted Stock Units tied to 4,988 Class A shares. These Phantom RSUs are cash-based awards that pay the cash equivalent of the closing price of one Class A share on the vesting date, plus any dividends since grant, and are settled in cash rather than stock.

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^*

Hernandez Artigas Carlos

(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)

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

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	291,211	I	Held by Marlies Capital LLC
Class A common share	2,569	I	Held in a Simplified Employee Pension account
Class A common share	49,774	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	04/30/2026(1)	04/30/2026(1)	Class A common share	4,988	(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 Carlos Hernandez Artigas	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 does the Arcos Dorados (ARCO) Form 3 filing show for Hernandez Artigas Carlos?

The Form 3 shows director Hernandez Artigas Carlos’ existing holdings in Arcos Dorados. He reports direct, indirect, and cash-settled Phantom RSU interests linked to the company’s Class A common shares as of the reporting date.

How many Arcos Dorados (ARCO) Class A shares does Hernandez Artigas Carlos hold directly?

He reports direct ownership of 49,774 Arcos Dorados Class A common shares. This is separate from his indirect holdings through entities and retirement accounts, and from Phantom Restricted Stock Units that are settled in cash rather than stock.

What indirect Arcos Dorados (ARCO) holdings are reported for Hernandez Artigas Carlos?

He reports 291,211 Class A common shares held indirectly through Marlies Capital LLC and 2,569 Class A shares held in a Simplified Employee Pension account. These positions complement his directly owned shares disclosed in the same Form 3 filing.

What are the Phantom Restricted Stock Units reported in the Arcos Dorados (ARCO) Form 3?

The filing lists Phantom Restricted Stock Units tied to 4,988 underlying Class A shares. Each Phantom RSU pays the cash equivalent of one Class A share’s closing price at vesting, plus dividends since grant, and is settled entirely in cash.

Do the Phantom RSUs in the Arcos Dorados (ARCO) filing deliver actual shares?

No, the Phantom RSUs are cash-settled awards. On the vesting date, each unit pays the cash value of one Class A share’s closing price plus any dividends since grant, rather than issuing new Arcos Dorados shares to the holder.