Arcos Dorados director granted 4,435 phantom RSUs

Rabach Marcelo reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Rabach Marcelo reported acquisition or exercise transactions in this Form 4 filing.

Arcos Dorados Holdings Inc. director Marcelo Rabach received a grant of 4,435 Phantom Restricted Stock Units as compensation. The award was made on May 10, 2026 and leaves him holding 4,435 phantom units in total.

Each Phantom RSU mirrors the value of one Class A common share on the vesting date and includes the cash value of any dividends paid since the grant date. The units are scheduled to vest and be settled in cash on April 30, 2027 and were issued under the company’s Phantom RSU compensation policy without any instruction from Rabach.

Insider Trade Summary

Grant/Award: 4,435 shares

Grant/Award 1 txn

Insider Rabach Marcelo

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Restricted Stock Unit	4,435	$0.00	$0.00

Holdings After Transaction: Phantom Restricted Stock Unit — 4,435 contracts (Direct)

Footnotes (2)

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.
2. F2. The Phantom RSUs were issued pursuant to the issuer's Phantom RSU compensation policy, without any instruction from the reporting person.

Key Figures

Phantom RSUs granted: 4,435 units Total phantom units after grant: 4,435 units Vesting/settlement date: April 30, 2027 +1 more

4 metrics

Phantom RSUs granted 4,435 units Grant to director Marcelo Rabach on May 10, 2026

Total phantom units after grant 4,435 units Holdings following the reported transaction

Vesting/settlement date April 30, 2027 Scheduled vesting and cash settlement for Phantom RSUs

Underlying security equivalence 4,435 Class A common shares Each Phantom RSU mirrors one Class A common share’s value

Key Terms

Phantom Restricted Stock Unit, Phantom RSU compensation policy, Class A common share

3 terms

Phantom Restricted Stock Unit financial

"Each Phantom Restricted Stock Unit ("Phantom RSU") represents the cash equivalent of the closing price of one Class A common share..."

Phantom RSU compensation policy financial

"The Phantom RSUs were issued pursuant to the issuer's Phantom RSU compensation policy, without any instruction from the reporting person."

Class A common share financial

"represents the cash equivalent of the closing price of one Class A common share on the vesting date, plus any dividends paid..."

FAQ

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

What insider transaction did Arcos Dorados (ARCO) report for Marcelo Rabach?

Arcos Dorados reported that director Marcelo Rabach received 4,435 Phantom Restricted Stock Units as a compensation grant. The award mirrors the value of Class A common shares and is cash-settled at vesting, aligning his compensation with shareholder returns.

How many Phantom RSUs did Marcelo Rabach receive from Arcos Dorados (ARCO)?

Marcelo Rabach received 4,435 Phantom Restricted Stock Units. These units track the closing price of one Class A common share each at vesting, plus the cash value of any dividends paid from the grant date until vesting.

When do Marcelo Rabach’s Arcos Dorados (ARCO) Phantom RSUs vest?

The Phantom RSUs granted to Marcelo Rabach are scheduled to vest on April 30, 2027. On that date, he becomes entitled to a cash payment based on the Class A share price at vesting and any accumulated dividend equivalents.

How are Arcos Dorados (ARCO) Phantom Restricted Stock Units settled?

Each Phantom RSU represents the cash equivalent of the closing price of one Class A common share on the vesting date. The award is settled in cash and includes the value of dividends paid on the Class A share since the grant date.

Were Marcelo Rabach’s Phantom RSUs at Arcos Dorados (ARCO) discretionary?

The Phantom RSUs were issued under Arcos Dorados’ Phantom RSU compensation policy without any instruction from Marcelo Rabach. This indicates the grant followed a predefined compensation framework rather than a personal trading or investment decision by the director.

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

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Accepted by SEC EDGAR 05/12/2026 - 05:25 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Rabach Marcelo

(Last) (First) (Middle)

RIO NEGRO 1338, FIRST FLOOR

(Street)

MONTEVIDEO 11100

(City) (State) (Zip)

URUGUAY

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/10/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Restricted Stock Unit	(1)(2)	05/10/2026		A		4,435		04/30/2027	04/30/2027	Class A common share	4,435	(1)	4,435	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.

2. The Phantom RSUs were issued pursuant to the issuer's Phantom RSU compensation policy, without any instruction from the reporting person.

Remarks:

	/s/ Roman Ajzen, attorney-in-fact on behalf of Marcelo Rabach	05/12/2026
	** 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 4 (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 4: SEC 1474 (03-26)