Wendy's CIO exercises 1,191 stock units into shares
Wendy's Co reported insider equity activity by Chief Information Officer Matthew P. Spessard.
Rhea-AI Filing Summary
Wendy's Co reported insider equity activity by Chief Information Officer Matthew P. Spessard. On August 5, 2026, he exercised 1,191 restricted stock units (including 143 dividend equivalent units) into common shares. In connection, 344 shares were delivered or withheld at $7.99 per share for payment of exercise price or tax liability. The restricted stock units, granted on August 5, 2024, vest in three equal annual installments and carry dividend equivalent and tax withholding rights, and 64,040 restricted stock units were reported as held directly after the derivative transaction.
Positive
- None.
Negative
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Insider Trade Summary
1,191 shares exercised/converted
Exercise
3 txns
Insider
Spessard Matthew P
Role
Chief Information Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F2, F1, F3, F4 | 1,191 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 1,191 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 344 | $7.99 | $3K |
Holdings After Transaction:
Restricted Stock Units — 64,040 contracts (Direct);
Common Stock — 12,595 shares (Direct)
Footnotes (4)
- F1. Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.
- F2. With tandem dividend equivalent rights and tax withholding rights.
- F3. Includes 143 dividend equivalent units that had accrued on the restricted stock units.
- 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. Spessard'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: 1,191 units
Dividend equivalent units included: 143 units
Shares delivered/withheld: 344 shares
+3 more
6 metrics
Restricted stock units converted
1,191 units
RSUs converted into common stock on August 5, 2026
Dividend equivalent units included
143 units
Portion of the 1,191 restricted stock units converted
Shares delivered/withheld
344 shares
Shares delivered or withheld for payment of exercise price or tax liability
Price per share for delivered/withheld shares
$7.99 per share
Per-share value applied to the 344 shares delivered or withheld
Restricted stock units held after transaction
64,040 units
Direct RSU holdings reported following the derivative transaction
Vesting installments
3 installments
RSUs vest in three equal installments on anniversaries of the August 5, 2024 grant
Key Terms
Restricted Stock Units, dividend equivalent units, tandem dividend equivalent rights, tax withholding rights
4 terms
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share"
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 units financial
"Includes 143 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.
tandem dividend equivalent rights financial
"With tandem dividend equivalent rights and tax withholding rights"
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 Matthew P. Spessard?
Wendy's Co reported that CIO Matthew P. Spessard converted 1,191 restricted stock units into common shares on August 5, 2026. In the same transaction sequence, 344 shares were delivered or withheld at $7.99 per share for payment of exercise price or tax liability.
How many restricted stock units did WEN's CIO convert into Wendy's common stock?
Matthew P. Spessard converted 1,191 restricted stock units into Wendy's common stock. This amount includes 143 dividend equivalent units that had accrued on the restricted stock units, with each unit representing a contingent right to receive one share of common stock.
What are Matthew P. Spessard's reported restricted stock unit holdings after this WEN transaction?
After the reported derivative transaction, Matthew P. Spessard directly held 64,040 restricted stock units. These units are separate from the common shares acquired and continue to represent contingent rights to receive Wendy's common stock, subject to applicable vesting and employment conditions.
What is the vesting schedule for the restricted stock units reported by Wendy's Co (WEN)?
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. The first and second installments, including related dividend equivalent units, vested on August 5, 2025 and August 5, 2026, respectively.
Were the Wendy's Co (WEN) insider transactions made under a Rule 10b5-1 trading plan?
No. The filing indicates that these insider transactions were not reported as being made under a Rule 10b5-1 trading plan. The document-level checkbox affirming Rule 10b5-1 plan status was explicitly left unchecked for these reported transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
