[Form 4] The Wendy's Company Insider Trading Activity

Rhea-AI Filing Summary

Lindsay J. Radkoski, Chief Marketing Officer (U.S.), reported stock-unit vesting and a small disposition in a Form 4 for The Wendy's Company (WEN). On 08/11/2025, 580 restricted stock units vested (including 58 dividend-equivalent units) and are recorded as acquisitions at $0. On the same date, 174 common shares were disposed of at a price of $10.30 per share. Following these reported transactions Ms. Radkoski is shown as directly beneficially owning 30,083 common shares and as beneficial owner of 54,591 derivative securities (restricted stock units). The RSUs were granted on 08/11/2023 and vest in three equal annual installments; the first and second installments vested on 08/11/2024 and 08/11/2025 respectively.

Each restricted stock unit represents a contingent right to receive one share and includes tandem dividend-equivalent rights and tax-withholding rights as described in the filing.

Insights

Financial Analyst

Routine executive equity vesting with minor share disposition; limited immediate market impact.

The filing documents the vesting of 580 restricted stock units (including 58 dividend-equivalent units) and the disposition of 174 shares at $10.30. These are compensation-related events rather than open-market strategic moves. Net direct ownership after transactions is 30,083 common shares, with 54,591 RSU-related derivative interests outstanding. Given the sizes reported, the transactions are small relative to typical public-company float and are unlikely to materially affect valuation or signal a change in company performance.

Corporate Governance Expert

Compensation vesting and limited disposition consistent with routine plan mechanics and tax/withholding processes.

The disclosure clarifies that the RSUs were granted 08/11/2023 and vest in three equal annual installments; two installments have vested (08/11/2024 and 08/11/2025). The record notes dividend-equivalent and tax-withholding features tied to the RSUs. There are no disclosures of atypical sales, accelerated vesting for change-in-control, or related-party transactions. From a governance perspective, the filing appears standard and does not raise material control or disclosure concerns.

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
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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^*

Radkoski Lindsay J.

(Last) (First) (Middle)

C/O THE WENDY'S COMPANY

ONE DAVE THOMAS BLVD.

(Street)

DUBLIN OH 43017

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Wendy's Co [ WEN ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CMO, U.S.

3. Date of Earliest Transaction (Month/Day/Year)
08/11/2025

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

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 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
Common Stock	08/11/2025		M		580	A	$0(1)	30,257	D
Common Stock	08/11/2025		F		174	D	$10.3	30,083	D

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
Restricted Stock Units(2)	(1)	08/11/2025		M			580(3)	(4)	(4)	Common Stock	580	$0	54,591	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.

2. With tandem dividend equivalent rights and tax withholding rights.

3. Includes 58 dividend equivalent units that had accrued on the restricted stock units.

4. The restricted stock units were granted on August 11, 2023 and vest in three equal installments on the first, second and third anniversaries of the grant date, subject to Ms. Radkoski's continued employment with the Company on the applicable vesting date. The first and second installments (including the related dividend equivalent units) vested on August 11, 2024 and 2025, respectively.

	/s/ Mark L. Johnson, Attorney-in-Fact	08/13/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What transactions did Lindsay J. Radkoski report on Form 4 for WEN?

The filing reports that 580 restricted stock units vested on 08/11/2025 (acquired at $0) and that 174 common shares were disposed of at $10.30 per share on the same date.

How many shares does Ms. Radkoski beneficially own after these transactions (WEN)?

After the reported transactions she directly beneficially owns 30,083 common shares and is the beneficial owner of 54,591 derivative securities (restricted stock units).

What do the reported restricted stock units represent?

Each restricted stock unit represents a contingent right to receive one share of Wendy's common stock and includes tandem dividend-equivalent and tax-withholding rights, per the filing.

When were the RSUs granted and what is the vesting schedule?

The RSUs were granted on 08/11/2023 and vest in three equal installments on the first, second and third anniversaries of the grant date. The first and second installments vested on 08/11/2024 and 08/11/2025.

What was the sale price reported for the disposed shares?

The Form 4 reports the disposition of 174 shares at a price of $10.30 per share.