Wendy's awards director Peter W. May 4,009 shares
The per-share value used the average closing price over the 20 consecutive trading days before the retainers were due.
Sentiment and the balance of points
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Form Type
4
Rhea-AI Filing Summary
Wendy's Co (WEN) reported that director and 10% owner Peter W. May received 4,009 common shares under its 2020 Omnibus Award Plan in place of quarterly Board and committee retainer fees otherwise payable in cash. The shares were recorded at $7.42 per share. After the award, May directly held 5,571,285 shares.
Insider Trade Summary
Grant/Award: 4,009 shares
Grant/Award
2 txns
Insider
MAY PETER W
Role
Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1 | 4,009 | $7.42 | $30K |
| holding | Common Stock F2, F3 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 5,571,285 shares (Direct);
Common Stock — 14,943,466 shares (Indirect, By Trian Partners)
Footnotes (3)
- F1. Shares were issued pursuant to the Company's 2020 Omnibus Award Plan (the "Plan") in lieu of a quarterly Board of Directors retainer fee and a quarterly Board committee retainer fee that would otherwise be payable in cash. In accordance with the Plan, the price is the average of the closing price per share on the 20 consecutive trading days immediately preceding the date on which the retainer fees would otherwise be payable.
- F2. Trian Fund Management, L.P. ("Trian Management") serves as the management company for Trian Partners, L.P., Trian Partners Master Fund, L.P., Trian Partners Parallel Fund I, L.P., Trian Partners Strategic Fund-G II L.P., and Trian Partners Strategic Fund-K, L.P. (collectively, the "Trian Funds"), and as such determines the investment and voting decisions of the Trian Funds with respect to the shares of the Issuer held by them. Mr. May is the President and a founding partner of Trian Management, and as such may be deemed to share voting and dispositive power with Trian Management over shares of the Issuer held by the Trian Funds.
- F3. (FN 1, contd.) Mr. May is also a member of Trian Partners General Partner, LLC ("Trian GP LLC"), the general partner of Trian Partners GP, L.P. ("Trian GP"), and as such is in a position to determine the investment and voting decisions made by Trian GP LLC on behalf of Trian GP. Accordingly, Mr. May and Trian Management may be deemed to indirectly beneficially own (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the shares owned by the Trian Funds and Trian GP (collectively, "Trian Partners"). The reporting persons disclaim beneficial ownership of such shares except to the extent of their pecuniary interest therein and this report shall not be deemed an admission that the reporting persons are the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
Key Figures
Shares awarded: 4,009 shares
Per-share award value: $7.42 per share
Direct shares held after award: 5,571,285 shares
+2 more
5 metrics
Shares awarded
4,009 shares
Common shares issued under the 2020 Omnibus Award Plan
Per-share award value
$7.42 per share
Reported value for the shares issued in place of retainer fees
Direct shares held after award
5,571,285 shares
Peter W. May's reported direct holdings
Trian Partners indirect holding
14,943,466 shares
Reported as held by Trian Partners
Valuation period
20 consecutive trading days
Average closing price used to value the award
Key Terms
2020 Omnibus Award Plan, retainer fee, dispositive power, pecuniary interest
4 terms
2020 Omnibus Award Plan technical
"issued pursuant to the Company's 2020 Omnibus Award Plan"
retainer fee financial
"quarterly Board of Directors retainer fee"
dispositive power regulatory
"share voting and dispositive power"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
pecuniary interest regulatory
"except to the extent of their pecuniary interest therein"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How was Peter W. May's Wendy's (WEN) stock award valued?
The award was valued using the average closing price per share over the 20 consecutive trading days immediately before the date the retainer fees otherwise would have been payable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
