Wendy's Executive's Divorce Settlement Reveals Complex Stock Compensation Package

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

E.J. Wunsch, President of International at The Wendy's Company (WEN), reported multiple securities transactions in this Form 4 filing:

Transferred 1,385 shares of common stock to former spouse via domestic relations order, retaining beneficial ownership of 64,880 shares
Received two grants of Restricted Stock Units (RSUs) with dividend equivalent rights: - 70 RSUs vesting in two equal installments (August 2025/2026) - 191 RSUs vesting in three equal installments (August 2025/2026/2027)

The RSU grants were made on June 16, 2025, as dividend equivalent units. Each RSU represents one share of Wendy's common stock. All vesting is contingent on continued employment. The transactions demonstrate standard executive compensation practices and a modification of holdings due to personal circumstances.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Wunsch E.J.

Role President, International

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	70	$0.00	--
Grant/Award	Restricted Stock Units	191	$0.00	--
Other	Common Stock	1,385	$0.00	--

Holdings After Transaction: Restricted Stock Units — 20,973 shares (Direct); Common Stock — 64,880 shares (Direct)

Footnotes (1)

Since the date of the reporting person's last ownership report, the reporting person transferred 1,385 shares of the Company's common stock to his former spouse pursuant to a domestic relations order. Following this transfer, the reporting person held 64,880 shares of the Company's common stock. With tandem dividend equivalent rights and tax withholding rights. Each restricted stock unit represents a contingent right to receive one share of the Company's common stock. Represents dividend equivalent units issued on June 16, 2025. The restricted stock units will vest in two remaining equal installments on August 11, 2025 and 2026, subject to Mr. Wunsch's continued employment with the Company on the applicable vesting date. The restricted stock units will vest in three equal installments on August 5, 2025, 2026 and 2027, subject to Mr. Wunsch's continued employment with the Company on the applicable vesting date.

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Form 4 Insider Transactions: What Each Field Means →

06/18/2025 - 05:21 PM

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^*

Wunsch E.J.

(Last)

(First)

(Middle)

C/O THE WENDY'S COMPANY

ONE DAVE THOMAS BOULEVARD

(Street)

DUBLIN

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)
	President, International

3. Date of Earliest Transaction (Month/Day/Year)
03/26/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/26/2025		J		1,385	D	$0	64,880⁽¹⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units⁽²⁾	⁽³⁾	06/16/2025		A		70⁽⁴⁾		⁽⁵⁾	⁽⁵⁾	Common Stock	70	$0	20,973	D
Restricted Stock Units⁽²⁾	⁽³⁾	06/16/2025		A		191⁽⁴⁾		⁽⁶⁾	⁽⁶⁾	Common Stock	191	$0	21,164	D

Explanation of Responses:

1. Since the date of the reporting person's last ownership report, the reporting person transferred 1,385 shares of the Company's common stock to his former spouse pursuant to a domestic relations order. Following this transfer, the reporting person held 64,880 shares of the Company's common stock.

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

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

4. Represents dividend equivalent units issued on June 16, 2025.

5. The restricted stock units will vest in two remaining equal installments on August 11, 2025 and 2026, subject to Mr. Wunsch's continued employment with the Company on the applicable vesting date.

6. The restricted stock units will vest in three equal installments on August 5, 2025, 2026 and 2027, subject to Mr. Wunsch's continued employment with the Company on the applicable vesting date.

	/s/ Mark L. Johnson, Attorney-in-Fact	06/18/2025
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many WEN shares did E.J. Wunsch transfer in March 2025?

According to the Form 4 filing, E.J. Wunsch transferred 1,385 shares of Wendy's common stock to his former spouse pursuant to a domestic relations order on March 26, 2025. Following this transfer, he held 64,880 shares of the company's common stock.

What is E.J. Wunsch's current position at WEN?

According to the Form 4 filing, E.J. Wunsch serves as President, International at The Wendy's Company (WEN).

How many restricted stock units (RSUs) did WEN's President, International receive in June 2025?

On June 16, 2025, E.J. Wunsch received two grants of dividend equivalent units: 70 restricted stock units that vest in two equal installments (August 11, 2025 and 2026), and 191 restricted stock units that vest in three equal installments (August 5, 2025, 2026, and 2027).

What is the vesting schedule for WEN's latest RSU grant to E.J. Wunsch?

The June 16, 2025 RSU grants have two different vesting schedules: 70 units vest in two equal installments on August 11, 2025 and 2026, while 191 units vest in three equal installments on August 5, 2025, 2026, and 2027. Both grants are subject to Wunsch's continued employment with Wendy's on the applicable vesting dates.

How many WEN shares does E.J. Wunsch own after the March 2025 transfer?

Following the transfer of 1,385 shares to his former spouse, E.J. Wunsch directly owned 64,880 shares of Wendy's common stock, plus additional restricted stock units that have not yet vested.