Boston Partners Discloses 7.7% Stake in Denny's (3.94M Shares)

Boston Partners reported beneficial ownership of 3,944,479 shares of Denny's Corp common stock, representing 7.7% of the outstanding class.

Rhea-AI Filing Summary

Boston Partners reported beneficial ownership of 3,944,479 shares of Denny's Corp common stock, representing 7.7% of the outstanding class. The filing states these shares are held in discretionary client accounts and that Boston Partners may be deemed a beneficial owner under Rule 13d-3.

The statement indicates Boston Partners has sole voting and sole dispositive power over the shares and reports no shared power or group affiliation. The filing also certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Positive

• Boston Partners beneficially owns 3,944,479 shares of Denny's common stock, representing 7.7% of the class.
• Filer reports sole voting and sole dispositive power and states the shares are held in the ordinary course and not to influence control.

Negative

• None.

Insights

Financial Analyst

TL;DR: Boston Partners holds a material 7.7% passive stake in DENN; disclosure signals a notable investor position without an asserted intent to seek control.

Boston Partners reports ownership of 3,944,479 shares (7.7% of the class) and discloses sole voting and dispositive power. The Schedule 13G classification and the filer type IA indicate the holdings are reported as passive and held for discretionary client accounts. This is a material disclosure because it crosses the 5% threshold and notifies the market of a significant investor position, while the filing explicitly denies an intent to change control.

Impact assessment: Impactful as a material passive stake; neutral on corporate control based on the filer’s certification.

Corporate Governance Expert

TL;DR: A 7.7% stake attracts governance attention, but the filer asserts no coordinated effort or intent to influence control.

The filing shows Boston Partners holds sole voting and dispositive power over 3,944,479 shares and reports no shared power or group relationships. Item 10 certification states the securities are held in the ordinary course of business and not to influence control, which frames this as a passive disclosure rather than an activist move. The absence of group affiliation or shared power reduces immediate governance implications, though the stake magnitude remains material.

Impact assessment: Material ownership disclosed; governance risk appears limited per the filer’s statements.

FAQ

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

How many Denny's (DENN) shares does Boston Partners report owning?

Boston Partners reports owning 3,944,479 shares of Denny's common stock.

What percentage of DENN does Boston Partners' holding represent?

The reported stake represents 7.7% of the outstanding common stock.

Does Boston Partners have voting or dispositive power over the reported DENN shares?

Yes. The filing reports sole voting power and sole dispositive power for the 3,944,479 shares and no shared power.

Is this a Schedule 13G or a Schedule 13D filing for DENN?

This document is a Schedule 13G, and Boston Partners is identified as an investment adviser (IA).

Are the shares held to influence control of Denny's (DENN)?

The filing certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

Are the reported shares held for clients or for Boston Partners' own account?

The filing states the shares are held in discretionary accounts of certain clients.

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

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Accepted by SEC EDGAR 08/11/2025 - 03:42 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

DENNY'S Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

24869P104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 24869P104

1

Names of Reporting Persons

Boston Partners

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,944,479.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,944,479.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,944,479.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.7 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DENNY'S Corp
(b)	Address of issuer's principal executive offices: 203 EAST MAIN STREET, SPARTANBURG, SOUTH CAROLINA 29319
Item 2.
(a)	Name of person filing: Boston Partners
(b)	Address or principal business office or, if none, residence: ONE BEACON STREET 30TH FLOOR BOSTON, Massachusetts 02108
(c)	Citizenship: Boston Partners - DELAWARE
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 24869P104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3,944,479
(b)	Percent of class: 7.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Boston Partners - 3,944,479
	(ii) Shared power to vote or to direct the vote: Boston Partners - 0
	(iii) Sole power to dispose or to direct the disposition of: Boston Partners - 3,944,479
	(iv) Shared power to dispose or to direct the disposition of: Boston Partners - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. This Schedule is being filed with respect to 3,944,479.00 shares of Denny's Corp. (the Common Stock) held by Boston Partners on 6/30/2025 for the discretionary account of certain clients. By reason of rule 13d-3 under the act Boston Partners may be deemed to be a beneficial owner of such Common Stock. To the knowledge of Boston Partners no person has the right to receive or the power to direct the receipt of dividends from or the proceeds from the sale of such Common Stock which represents more than 5% of the outstanding shares of the Common Stock referred to in item 4(b) hereof.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Boston Partners

Signature:	/s/Akiko Lindholm
Name/Title:	Senior Compliance Manager
Date:	08/11/2025