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  4. [Form 4] Wendy's Co Insider Trading Activity

Wendy's exec granted five RSU awards at $0

Wendy’s President, International received multiple RSU dividend-equivalent grants that vest in stages from August 2027 through August 2029, all tied to continued employment.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Wendy's Co (WEN) reported that E.J. Wunsch, President, International, received five grants of restricted stock units (RSUs) on September 15, 2026, all at a stated price of $0. These RSUs are dividend equivalent units that convert 1:1 into common stock, with vesting between August 2027 and August 2029 subject to continued employment.

Positive

  • None.

Negative

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Insider Wunsch E.J.
Role President, International
Type Security Shares Price Value
Grant/Award Restricted Stock Units F1, F2, F3, F4 52 $0.00 $0.00
Grant/Award Restricted Stock Units F1, F2, F3, F5 151 $0.00 $0.00
Grant/Award Restricted Stock Units F1, F2, F3, F6 568 $0.00 $0.00
Grant/Award Restricted Stock Units F1, F2, F3, F7 288 $0.00 $0.00
Grant/Award Restricted Stock Units F1, F2, F3, F8 621 $0.00 $0.00
Holdings After Transaction: Restricted Stock Units — 180,921 contracts (Direct)
Footnotes (8)
  1. F1. With tandem dividend equivalent rights and tax withholding rights.
  2. F2. Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.
  3. F3. Represents dividend equivalent units issued on September 15, 2026.
  4. F4. The restricted stock units will vest in one remaining installment on August 5, 2027, subject to Mr. Wunsch's continued employment with the Company on the vesting date.
  5. F5. The restricted stock units will vest in two remaining equal installments on August 12, 2027 and 2028, subject to Mr. Wunsch's continued employment with the Company on the applicable vesting date.
  6. F6. The restricted stock units will vest in one remaining installment on August 12, 2027, subject to Mr. Wunsch's continued employment with the Company on the vesting date.
  7. F7. The restricted stock units will vest in three equal installments on August 11, 2027, 2028 and 2029, subject to Mr. Wunsch's continued employment with the Company on the applicable vesting date.
  8. F8. The restricted stock units will vest in two equal installments on August 11, 2027 and 2028, subject to Mr. Wunsch's continued employment with the Company on the applicable vesting date.
RSUs granted (first award) 52 restricted stock units Dividend equivalent units issued on September 15, 2026
RSUs granted (second award) 151 restricted stock units Dividend equivalent units issued on September 15, 2026
RSUs granted (third award) 568 restricted stock units Dividend equivalent units issued on September 15, 2026
RSUs granted (fourth award) 288 restricted stock units Dividend equivalent units issued on September 15, 2026
RSUs granted (fifth award) 621 restricted stock units Dividend equivalent units issued on September 15, 2026
RSU price per unit $0.00 per unit Reported transaction price per share for each RSU grant
Vesting completion range August 2027–August 2029 Vesting dates across the five RSU awards, subject to continued employment
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
"Represents dividend equivalent units issued on September 15, 2026"
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"
contingent right financial
"represents a contingent right to receive one share of the Company's"

FAQ

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

Who is the insider involved in this WEN Form 4 filing and what is their role?
The filing reports transactions by E.J. Wunsch, who serves as President, International at Wendy’s Co. The transactions involve awards of restricted stock units linked to Wendy’s common stock.

What type of securities did the Wendy’s (WEN) executive acquire in this Form 4?
E.J. Wunsch acquired restricted stock units (RSUs), each representing a contingent right to receive one share of Wendy’s common stock. The RSUs include tandem dividend equivalent rights and tax withholding rights as disclosed in the footnotes.

On what date were the Wendy’s (WEN) RSU grants to E.J. Wunsch made?
All reported restricted stock unit grants were made on September 15, 2026. Footnotes state these awards represent dividend equivalent units issued on that date in connection with existing equity awards.

What are the vesting terms for the RSUs reported for Wendy’s (WEN) executive E.J. Wunsch?
The RSUs vest in installments between August 2027 and August 2029, with specific grants vesting in one, two, or three equal installments on dates including August 5, 2027, August 11, and August 12, subject to continued employment on each vesting date.

Are the RSU grants in this WEN Form 4 tied to a Rule 10b5-1 trading plan?
No. The filing’s Rule 10b5-1 checkbox is not affirmed, and there is no footnote stating that these RSU awards were made pursuant to a Rule 10b5-1 or similar pre-arranged trading plan.

Do the RSUs in this Wendy’s (WEN) filing have an exercise or purchase price?
The RSU awards show a transaction price per unit of $0.00. Footnotes state that each unit represents a contingent right to receive one share of common stock, rather than a stock option with an exercise price.

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

Form 4 Insider Transactions: What Each Field Means →
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SEC Form 4
FORM 4UNITED 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 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)
Director10% Owner
XOfficer (give title below)Other (specify below)
President, International
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(1)(2)09/15/2026A52(3) (4) (4)Common Stock52$0179,293D
Restricted Stock Units(1)(2)09/15/2026A151(3) (5) (5)Common Stock151$0179,444D
Restricted Stock Units(1)(2)09/15/2026A568(3) (6) (6)Common Stock568$0180,012D
Restricted Stock Units(1)(2)09/15/2026A288(3) (7) (7)Common Stock288$0180,300D
Restricted Stock Units(1)(2)09/15/2026A621(3) (8) (8)Common Stock621$0180,921D
Explanation of Responses:
1. With tandem dividend equivalent rights and tax withholding rights.
2. Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.
3. Represents dividend equivalent units issued on September 15, 2026.
4. The restricted stock units will vest in one remaining installment on August 5, 2027, subject to Mr. Wunsch's continued employment with the Company on the vesting date.
5. The restricted stock units will vest in two remaining equal installments on August 12, 2027 and 2028, subject to Mr. Wunsch's continued employment with the Company on the applicable vesting date.
6. The restricted stock units will vest in one remaining installment on August 12, 2027, subject to Mr. Wunsch's continued employment with the Company on the vesting date.
7. The restricted stock units will vest in three equal installments on August 11, 2027, 2028 and 2029, subject to Mr. Wunsch's continued employment with the Company on the applicable vesting date.
8. The restricted stock units will vest in two equal installments on August 11, 2027 and 2028, subject to Mr. Wunsch's continued employment with the Company on the applicable vesting date.
/s/ Mark L. Johnson, Attorney-in-Fact09/17/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

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