Arcos Dorados CEO reports initial holdings

Arcos Dorados Holdings Inc. Chief Executive Officer Luis Alberto Raganato filed an initial ownership report listing his equity interests.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

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Form Type

Rhea-AI Filing Summary

Arcos Dorados Holdings Inc. Chief Executive Officer Luis Alberto Raganato filed an initial ownership report listing his equity interests. He directly holds 60,034 Class A common shares. He also holds Phantom Restricted Stock Units tied to 24,239, 17,303 and 34,675 underlying Class A shares, which will be settled in cash on vesting dates in 2026, 2027 and 2028.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Raganato Luis Alberto

Role Chief Executive Officer

Type	Security	Shares	Price	Value
holding	Phantom Restricted Stock Unit	--	--	--
holding	Phantom Restricted Stock Unit	--	--	--
holding	Phantom Restricted Stock Unit	--	--	--
holding	Class A common share	--	--	--

Holdings After Transaction: Phantom Restricted Stock Unit — 76,217 contracts (Direct); Class A common share — 60,034 shares (Direct)

Footnotes (1)

F1. 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Arcos Dorados (ARCO) Form 3 filing by CEO Luis Alberto Raganato show?

The Form 3 shows Luis Alberto Raganato’s initial ownership in Arcos Dorados, including 60,034 directly held Class A common shares and multiple Phantom Restricted Stock Units that are economically tied to future cash payments based on the company’s share price at vesting.

How many Arcos Dorados Class A common shares does the CEO directly hold in this Form 3?

The CEO directly holds 60,034 Arcos Dorados Class A common shares. This position is disclosed as a direct ownership holding and represents his current reported equity stake in the company’s common stock separate from any derivative or cash-settled compensation awards.

What Phantom Restricted Stock Units are reported for the Arcos Dorados CEO in this Form 3?

The filing reports Phantom Restricted Stock Units linked to 24,239, 17,303 and 34,675 underlying Class A common shares. These units track the share price plus dividends, but are designed to be settled in cash rather than delivering actual Arcos Dorados shares at vesting.

When do the Phantom Restricted Stock Units for Arcos Dorados’ CEO vest?

The Phantom Restricted Stock Units vest on dates corresponding to expiration entries: in 2026, 2027 and 2028. Each vesting date serves as the exercisable and expiration date for the respective award, triggering the cash settlement based on the Class A share closing price.

Are the Phantom Restricted Stock Units in the Arcos Dorados Form 3 settled in shares or cash?

The Phantom Restricted Stock Units are settled in cash, not shares. Each unit reflects the cash equivalent of one Class A common share’s closing price on the vesting date, plus any dividends paid since grant, providing economic exposure without issuing additional equity.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/18/2026 - 11:35 AM EDT

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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Raganato Luis Alberto

(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 Executive 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	60,034	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)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	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)
Phantom Restricted Stock Unit	05/10/2026⁽¹⁾	05/10/2026⁽¹⁾	Class A common share	24,239	⁽¹⁾	D
Phantom Restricted Stock Unit	05/10/2027⁽¹⁾	05/10/2027⁽¹⁾	Class A common share	17,303	⁽¹⁾	D
Phantom Restricted Stock Unit	05/10/2028⁽¹⁾	05/10/2028⁽¹⁾	Class A common share	34,675	⁽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 Luis Alberto Raganato	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)

Source: View Original Filing on SEC EDGAR