Arcos Dorados director reports Phantom RSU holding

Arcos Dorados Holdings Inc. director Jose Alberto Velez Cadavid filed an initial ownership report showing a holding of Phantom Restricted Stock Units tied to 4,988 underlying Class A common shares.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

Arcos Dorados Holdings Inc. director Jose Alberto Velez Cadavid filed an initial ownership report showing a holding of Phantom Restricted Stock Units tied to 4,988 underlying Class A common shares. This is a compensation-related position rather than a market trade.

Each Phantom Restricted Stock Unit represents the cash equivalent of the closing price of one Class A common share on the vesting date, plus any dividends since the grant date. The units vest on April 30, 2026, when they will be settled in cash rather than in shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Velez Cadavid Jose Alberto

Role Director

Type	Security	Shares	Price	Value
holding	Phantom Restricted Stock Unit	--	--	--

Holdings After Transaction: Phantom Restricted Stock Unit — 4,988 contracts (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 did Arcos Dorados (ARCO) disclose in this Form 3 filing?

Arcos Dorados disclosed that director Jose Alberto Velez Cadavid holds Phantom Restricted Stock Units tied to 4,988 underlying Class A common shares. This Form 3 is an initial ownership report, showing a compensation-related position rather than a stock market purchase or sale.

How many Phantom Restricted Stock Units does the ARCO director report?

The director reports Phantom Restricted Stock Units linked to 4,988 underlying Class A common shares. This figure reflects his Phantom RSU position after the reported entry and indicates the amount used to calculate future cash settlement on the vesting date, subject to share price performance.

When do the Phantom RSUs for Arcos Dorados (ARCO) vest and expire?

The Phantom Restricted Stock Units vest and expire on April 30, 2026. That date serves as the vesting, exercisable, and expiration date, after which the units will be settled in cash based on the Class A common share closing price on that vesting date.

How are Arcos Dorados (ARCO) Phantom RSUs settled for the director?

Each Phantom RSU will be settled in cash promptly after the vesting date. The cash amount equals the closing price of one Class A common share on the vesting date, plus any dividends paid since grant, making this a cash-settled, share-price-linked compensation award.

Does this ARCO Form 3 show the director buying or selling shares?

The Form 3 does not show any share purchases or sales by the director. It reports a holding of Phantom Restricted Stock Units, which are cash-settled awards linked to Class A common share value, rather than an open-market trading transaction in the company’s stock.

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

Understanding Insider Trading Forms →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Accepted by SEC EDGAR 03/18/2026 - 11:44 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^*

Velez Cadavid Jose Alberto

(Last)

(First)

(Middle)

RIO NEGRO 1338, FIRST FLOOR

(Street)

MONTEVIDEO

11100

(City)

(State)

(Zip)

URUGUAY

(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)

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	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 Jose Alberto Velez Cadavid	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