[SCHEDULE 13G] Dine Brands Global, Inc. Passive Investment Disclosure (>5%)

Rhea-AI Filing Summary

Morgan Stanley has disclosed a significant ownership stake in Dine Brands Global, Inc. The firm reports beneficial ownership of 767,735 shares of Dine Brands common stock, representing 5.3% of the class as of the event date.

Morgan Stanley reports zero sole voting or dispositive power, with 763,393 shares subject to shared voting power and 767,735 shares subject to shared dispositive power. The firm states the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Dine Brands.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Dine Brands Global, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

254423106

(CUSIP Number)

12/31/2025

(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. 254423106

1

Names of Reporting Persons

Morgan Stanley

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 0.00
6	Shared Voting Power 763,393.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 767,735.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

767,735.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Dine Brands Global, Inc.
(b)	Address of issuer's principal executive offices: 10 WEST WALNUT STREET, 5TH FLOOR, PASADENA, CA, 91103
Item 2.
(a)	Name of person filing: Morgan Stanley
(b)	Address or principal business office or, if none, residence: 1585 Broadway, New York, NY 10036
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 254423106
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: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 5.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
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. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

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.

Morgan Stanley

Signature:	Chris O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	02/11/2026

FAQ

What stake does Morgan Stanley report in Dine Brands Global (DIN)?

Morgan Stanley reports beneficial ownership of 767,735 shares of Dine Brands Global common stock, representing 5.3% of the outstanding class. This Schedule 13G filing reflects a sizeable institutional position and indicates the shares are held in the ordinary course of business.

Does Morgan Stanley have voting power over its DIN shares?

Morgan Stanley reports no sole voting power and shared voting power over 763,393 shares of Dine Brands common stock. It also reports shared dispositive power over 767,735 shares, meaning decisions about voting and selling are exercised jointly rather than individually.

What type of SEC filing did Morgan Stanley submit for DIN?

Morgan Stanley filed a Schedule 13G for Dine Brands Global, Inc. This form is used by certain investors to report beneficial ownership above 5% when the shares are held in the ordinary course of business and not for the purpose of influencing control.

When was Morgan Stanley’s ownership position in DIN measured?

The ownership position is measured as of December 31, 2025, which is the event date triggering the Schedule 13G filing. At that date, Morgan Stanley’s reportable beneficial ownership in Dine Brands Global common stock reached the 5.3% level disclosed.

Is Morgan Stanley seeking to influence control of Dine Brands Global (DIN)?

Morgan Stanley states the DIN securities were acquired and are held in the ordinary course of business and were not acquired or held for the purpose of changing or influencing control of Dine Brands, consistent with the passive intent standard for a Schedule 13G filing.

What is the CUSIP number for Dine Brands Global common stock in this filing?

The filing identifies Dine Brands Global, Inc. common stock with CUSIP number 254423106. CUSIP identifiers help investors and market participants precisely track and trade the specific security referenced in the Schedule 13G ownership disclosure.