Director at Arcos Dorados (NYSE: ARCO) gets 4,435 Phantom RSUs

Rhea-AI Filing Summary

De Luca Cristina Presz Palmaka reported acquisition or exercise transactions in this Form 4 filing.

Arcos Dorados Holdings Inc. director Cristina Presz Palmaka De Luca received a grant of 4,435 Phantom Restricted Stock Units on May 10, 2026. These units were awarded at a price of $0.00 per unit under the company’s Phantom RSU compensation policy.

Each Phantom RSU represents the cash equivalent of the closing price of one Class A common share on the vesting date, plus any dividends paid since the grant date. Following this award, she holds 4,435 Phantom RSUs directly as a cash-settled compensation interest.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider De Luca Cristina Presz Palmaka

Role null

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

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

Footnotes (1)

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 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 Grant price per unit: $0.00 per unit Phantom RSUs after transaction: 4,435 units +2 more

5 metrics

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

Grant price per unit $0.00 per unit Phantom RSU award terms

Phantom RSUs after transaction 4,435 units Total Phantom RSUs directly held post-grant

Underlying Class A shares 4,435 shares equivalent Underlying security for Phantom RSUs

Vesting/expiration date April 30, 2027 Exercise and expiration date for Phantom RSUs

Key Terms

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

3 terms

Phantom Restricted Stock Unit financial

"Each Phantom Restricted Stock Unit ("Phantom RSU") represents the cash equivalent..."

Class A common share financial

"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..."

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Form 4 Insider Transactions: What Each Field Means →

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^*

De Luca Cristina Presz Palmaka

(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 Cristina Palmaka	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)

FAQ

What insider transaction did Arcos Dorados (ARCO) report in this Form 4?

Arcos Dorados reported a grant of 4,435 Phantom Restricted Stock Units to director Cristina Presz Palmaka De Luca. The award is a cash-settled compensation grant tied to the value of the company’s Class A common shares at vesting, plus any dividends.

Who received Phantom RSUs from Arcos Dorados (ARCO) and how many units were granted?

Director Cristina Presz Palmaka De Luca received 4,435 Phantom Restricted Stock Units. This award was made as part of Arcos Dorados’ Phantom RSU compensation policy and represents a non-cash, share-value-linked incentive for the director’s service to the company.

What does each Arcos Dorados (ARCO) Phantom Restricted Stock Unit represent?

Each Phantom Restricted Stock Unit represents the cash equivalent of the closing price of one Class A common share on the vesting date. It also includes any dividends paid on that share, if any, from the grant date until vesting, making it a cash-based equity-linked incentive.

Did the Arcos Dorados (ARCO) director pay anything for the Phantom RSU grant?

No, the 4,435 Phantom Restricted Stock Units were granted at a price of $0.00 per unit. They were issued under the company’s Phantom RSU compensation policy, functioning as a form of non-cash compensation rather than a purchase by the director.

How many Phantom RSUs does the Arcos Dorados (ARCO) director hold after this transaction?

After the reported transaction, the director holds 4,435 Phantom Restricted Stock Units directly. This total reflects the full amount of the new grant and indicates her current reported balance of this type of cash-settled equity-linked compensation instrument.

When do the Arcos Dorados (ARCO) Phantom RSUs related to this grant vest or expire?

The Phantom Restricted Stock Units have an exercise and expiration date of April 30, 2027. On the vesting date, each unit pays the cash value of one Class A common share’s closing price plus any dividends paid since the grant date, if applicable.