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

Rhea-AI Filing Summary

Director Wendy C. Arlin of The Wendy's Company (WEN) received two grants of Restricted Stock Units (RSUs) on June 16, 2025 as dividend equivalent units:

• 121 RSUs that vested in full on May 21, 2025, bringing total holdings to 23,774 units
• 174 RSUs that will vest on the earlier of May 21, 2026 or the 2026 annual meeting, bringing total holdings to 23,948 units

Both grants were priced at $0 and represent dividend equivalent units. The vested shares will be delivered upon Ms. Arlin's termination as a director. Each RSU represents a contingent right to receive one share of Wendy's common stock. This Form 4 filing indicates standard dividend-related equity compensation for a board member, with deferred delivery terms.

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

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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^*

Arlin Wendy C.

(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)
06/16/2025

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

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	(1)	06/16/2025		A		121(2)		(3)	(3)	Common Stock	121	$0	23,774	D
Restricted Stock Units	(1)	06/16/2025		A		174(2)		(4)	(4)	Common Stock	174	$0	23,948	D

Explanation of Responses:

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

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

3. The restricted stock units vested in full on May 21, 2025. Vested shares will be delivered upon Ms. Arlin's termination as a director of the Company.

4. The restricted stock units will vest in full on the earlier of May 21, 2026 or the date of the Company's 2026 annual meeting of stockholders. Vested shares will be delivered upon Ms. Arlin's termination as a director of the Company.

	/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).
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FAQ

How many restricted stock units (RSUs) did WEN director Wendy C. Arlin receive on June 16, 2025?

According to the Form 4 filing, Wendy C. Arlin received two grants of restricted stock units on June 16, 2025: 121 RSUs and 174 RSUs, for a total of 295 RSUs. These were issued as dividend equivalent units.

What is the vesting schedule for WEN director Arlin's newest RSU grants?

The 121 RSUs have already vested in full on May 21, 2025. The 174 RSUs will vest in full on the earlier of May 21, 2026, or the date of WEN's 2026 annual meeting of stockholders. For both grants, the vested shares will be delivered upon Ms. Arlin's termination as a director of the Company.

How many WEN restricted stock units does Wendy Arlin own after the June 16, 2025 transaction?

Following the reported transactions, Wendy Arlin directly owns 23,948 restricted stock units of The Wendy's Company (WEN). This total reflects the addition of the newly granted 295 dividend equivalent units to her previous holdings.

What is the exercise price of WEN restricted stock units granted to director Arlin?

The restricted stock units were granted at $0 cost to Wendy Arlin. Each RSU represents a contingent right to receive one share of WEN's common stock upon vesting and delivery.