Wendy's Co (WEN) director granted 20,967 shares in stock award

Rhea-AI Filing Summary

CARUSO-CABRERA MICHELLE reported acquisition or exercise transactions in this Form 4 filing.

Wendy's Co director Michelle Caruso-Cabrera received a grant of 20,967 shares of Common Stock as compensation. The shares were awarded at a stated price of $0.00 per share, indicating a non-cash equity award. After this grant, her direct holdings increased to 51,663 common shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider CARUSO-CABRERA MICHELLE

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	20,967	$0.00	--

Holdings After Transaction: Common Stock — 51,663 shares (Direct, null)

Footnotes (1)

Key Figures

Shares granted: 20,967 shares Grant price per share: $0.00 per share Total shares after grant: 51,663 shares

3 metrics

Shares granted 20,967 shares Common Stock grant on May 20, 2026

Grant price per share $0.00 per share Equity award, non-cash compensation

Total shares after grant 51,663 shares Director holdings following transaction

Key Terms

Common Stock, Grant, award, or other acquisition, Form 4, non-derivative

4 terms

Common Stock financial

"security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

non-derivative financial

"transaction_type: "non-derivative""

Form 4 Insider Transactions: What Each Field Means →

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^*

CARUSO-CABRERA MICHELLE

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

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	05/20/2026		A		20,967	A	$0	51,663	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

Explanation of Responses:

	/s/ Mark L. Johnson, Attorney-in-Fact	05/22/2026
	** 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)

FAQ

What insider transaction did Wendy's Co (WEN) report for Michelle Caruso-Cabrera?

Wendy's Co reported that director Michelle Caruso-Cabrera received a grant of 20,967 shares of Common Stock. This was recorded as a non-cash equity award, increasing her direct holdings to 51,663 shares after the transaction, according to the Form 4 filing data.

Was the Michelle Caruso-Cabrera share grant at Wendy's Co (WEN) a market purchase or sale?

The transaction was not a market purchase or sale. It is coded as a grant, award, or other acquisition, with a transaction price of $0.00 per share, meaning it represents compensation in stock rather than an open-market buy or sell transaction.

How many Wendy's Co (WEN) shares does Michelle Caruso-Cabrera hold after this Form 4 transaction?

After receiving the 20,967-share grant, Michelle Caruso-Cabrera holds 51,663 shares of Wendy's Co Common Stock directly. This total reflects her position following the reported award and is disclosed as the total shares following the transaction on the Form 4.

What does the Form 4 transaction code 'A' mean in the Wendy's Co (WEN) filing?

In this Wendy's Co Form 4, the transaction code 'A' indicates a grant, award, or other acquisition of securities. Here, it reflects that Michelle Caruso-Cabrera received 20,967 Common Stock shares as an equity award rather than buying them on the open market.

Is Michelle Caruso-Cabrera's ownership in Wendy's Co (WEN) direct or indirect after the grant?

The filing shows her ownership as direct following the transaction. The 51,663 shares of Common Stock are classified as directly held, with no additional nature of ownership detail or indirect holding entity disclosed in the provided Form 4 data.