Wendy's Co CAO vests 1,415 restricted stock units

Wendy's Co Chief Accounting Officer Aaron M. Kale reported the vesting and conversion of 1,415 restricted stock units into 1,415 shares of common stock on August 5, 2026, including 168 dividend equivalent units.

Rhea-AI Filing Summary

Wendy's Co Chief Accounting Officer Aaron M. Kale reported the vesting and conversion of 1,415 restricted stock units into 1,415 shares of common stock on August 5, 2026, including 168 dividend equivalent units. Of these, 404 shares were delivered or withheld for payment of exercise price or tax liability, and he continues to hold 9,809 restricted stock units in total from this award granted on August 5, 2024, which vests in three equal annual installments.

Insider Trade Summary

1,415 shares exercised/converted

Exercise 3 txns

Insider Kale Aaron M.

Role Chief Accounting Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units F2, F1, F3, F4	1,415	$0.00	$0.00
Exercise	Common Stock F1	1,415	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	404	$7.99	$3K

Holdings After Transaction: Restricted Stock Units — 9,809 contracts (Direct); Common Stock — 11,579 shares (Direct)

Footnotes (4)

1. F1. Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.
2. F2. With tandem dividend equivalent rights and tax withholding rights.
3. F3. Includes 168 dividend equivalent units that had accrued on the restricted stock units.
4. F4. The restricted stock units were granted on August 5, 2024 and vest in three equal installments on the first, second and third anniversaries of the grant date, subject to Mr. Kale'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 5, 2025 and 2026, respectively.

Key Figures

Restricted stock units converted: 1,415 units Common shares acquired: 1,415 shares Shares delivered/withheld for exercise price or tax liability: 404 shares +5 more

8 metrics

Restricted stock units converted 1,415 units RSUs converted into common stock on August 5, 2026

Common shares acquired 1,415 shares Common stock acquired upon RSU conversion on August 5, 2026

Shares delivered/withheld for exercise price or tax liability 404 shares Code F transaction in common stock on August 5, 2026

Price per share for Code F transaction $7.99 per share Per-share value for 404 shares delivered or withheld for exercise price or tax liability

Restricted stock units held after transaction 9,809 units Total RSUs reported as held following the derivative transaction

Dividend equivalent units included 168 units Dividend equivalent units accrued on the restricted stock units that vested

RSU grant date August 5, 2024 Grant date of the restricted stock units vesting over three annual installments

Number of vesting installments 3 installments RSUs vest in three equal installments on the first, second and third anniversaries of grant

Key Terms

Restricted Stock Units, dividend equivalent rights, dividend equivalent units, tax withholding rights

4 terms

Restricted Stock Units financial

"Security title reported as Restricted Stock Units representing rights to common stock"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

dividend equivalent rights financial

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

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

dividend equivalent units financial

"Includes 168 dividend equivalent units that had accrued on the restricted stock units."

Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.

tax withholding rights financial

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Wendy's Co (WEN) report for Aaron M. Kale?

Wendy's Co reported that Chief Accounting Officer Aaron M. Kale had 1,415 restricted stock units vest and convert into common stock on August 5, 2026. The filing also shows a related share withholding transaction for payment of exercise price or tax liability.

How many Wendy's Co (WEN) shares did Aaron M. Kale receive, and how many were withheld?

Aaron M. Kale received 1,415 shares of Wendy's Co common stock from vested restricted stock units. In a related transaction, 404 shares of common stock were delivered or withheld at $7.99 per share for payment of exercise price or tax liability.

What are restricted stock units in the Wendy's Co (WEN) Form 4 for Aaron M. Kale?

Each restricted stock unit in this Wendy's Co Form 4 represents a contingent right to receive one share of common stock. The award includes tandem dividend equivalent rights and tax withholding rights, meaning additional units and shares can accrue and be withheld in connection with vesting.

When do Aaron M. Kale’s Wendy's Co (WEN) restricted stock units vest?

The reported restricted stock units were granted on August 5, 2024 and vest in three equal installments on the first, second and third anniversaries of that date, subject to continued employment. The first and second installments vested on August 5, 2025 and August 5, 2026, respectively.

How many restricted stock units does Aaron M. Kale hold after this Wendy's Co (WEN) transaction?

After the reported vesting and conversion, Aaron M. Kale is shown as holding 9,809 restricted stock units. This figure reflects his remaining position in the derivative security following the August 5, 2026 transaction sequence reported in the Form 4.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/07/2026 - 05:06 PM Accepted by SEC EDGAR 08/07/2026 - 05:05 PM Learn about SEC filing dates

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^*

Kale Aaron M.

(Last) (First) (Middle)

C/O THE WENDY'S COMPANY

ONE DAVE THOMAS BLVD.

(Street)

DUBLIN OHIO 43017

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	Chief Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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	08/05/2026		M		1,415	A	$0(1)	11,983	D
Common Stock	08/05/2026		F		404	D	$7.99	11,579	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)	08/05/2026		M			1,415(3)	(4)	(4)	Common Stock	1,415	$0	9,809	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 168 dividend equivalent units that had accrued on the restricted stock units.

4. The restricted stock units were granted on August 5, 2024 and vest in three equal installments on the first, second and third anniversaries of the grant date, subject to Mr. Kale'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 5, 2025 and 2026, respectively.

	/s/ Mark L. Johnson, Attorney-in-Fact	08/07/2026
	** 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.
* Form 4: SEC 1474 (03-26)