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

Rhea-AI Filing Summary

Wendy's Co. (WEN) Form 4 reports that Director Bradley G. Peltz was granted 13,226 common shares on 07/24/2025 (Transaction code “A”). The shares were acquired at $0, indicating a board equity award or restricted-stock grant rather than an open-market purchase.

After the grant, Peltz’s beneficial ownership totals 145,623 shares: 13,226 held directly and 132,397 held indirectly through the Peltz 2009 Family Trust. No derivative securities were involved and no dispositions were reported. The filing contains no additional financial metrics or strategic disclosures.

The award modestly increases insider alignment but is immaterial versus Wendy’s ~212 million-share float and therefore is unlikely to affect valuation or liquidity.

Insights

Financial Analyst

TL;DR: Small director stock grant; negligible impact on WEN valuation.

The 13,226-share award to Bradley Peltz raises his total holdings to about 0.07% of 1 million shares, far below any threshold that would influence ownership structure or voting power. At WEN’s recent ~$20 share price, the grant is worth roughly $0.26 million—insignificant versus the company’s $4 billion market cap. Because no cash changed hands, there is no cash-flow or EPS effect. Investors may view continued equity compensation as routine incentive alignment, but the filing contains no information that would alter forecasts or risk assessments. Overall impact: neutral.

Corporate Governance Expert

TL;DR: Routine equity compensation, supports alignment; governance impact neutral.

Equity grants to non-employee directors are standard practice to link board interests with shareholders. The $0 price and absence of derivatives suggest restricted shares that typically vest over time, encouraging long-term oversight. The grant size is consistent with typical board packages and does not signal unusual insider confidence or concern. No red flags (e.g., accelerated vesting, simultaneous sales) appear. Governance stance remains stable; disclosure meets Section 16 requirements.

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).

1. Name and Address of Reporting Person^*

Peltz Bradley G.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

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	07/24/2025		A		13,226	A	$0	13,226	D
Common Stock								132,397	I	By Peltz 2009 Family Trust

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

Explanation of Responses:

Remarks:

Power of Attorney is included with this filing as Exhibit 24.

	/s/ Mark L. Johnson, Attorney-in-Fact	07/28/2025
	** 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.

FAQ

What did Wendy's (WEN) disclose in the latest Form 4?

Director Bradley G. Peltz received 13,226 common shares on 07/24/2025 at $0 price, indicating an equity award.

How many Wendy's shares does Bradley G. Peltz now own?

After the grant, he beneficially owns 145,623 shares (13,226 direct, 132,397 indirect via trust).

Was the transaction a purchase or a grant?

It is coded “A” (acquisition) at $0, implying a stock grant/RSU, not a market purchase.

Are any derivative securities involved in this Form 4?

No. Table II shows no options, warrants, or other derivatives.

Does this insider transaction materially affect Wendy's stock?

The grant represents <0.01% of shares outstanding, so its impact on valuation or control is negligible.