Wendys Co SEC Filings

Wendy's CoDecember 15, 2025, he received three separate grants of dividend-equivalent restricted stock units covering 299, 285, and 2,561 units, each representing a contingent right to receive one share of common stock at no exercise price. These units carry dividend equivalent and tax withholding rights.

The units have different vesting schedules. One grant vests in full on December 2, 2027, another vests in three equal installments on August 12, 2026, 2027, and 2028, and the third vests in two equal installments on August 12, 2026 and 2027, all subject to Mr. Cook’s continued employment with the company on the applicable vesting dates.

Wendy's CoDecember 15, 2025, he received two grants of restricted stock units as dividend equivalents tied to existing awards. One grant was for 2,388 restricted stock units and the other for 385 restricted stock units, each representing the right to receive one share of Wendy's common stock per unit at no cash exercise price.

The filing shows these units carry tandem dividend equivalent and tax withholding rights. The 2,388 units are scheduled to vest in full on July 22, 2027, while the 385 units vest in three equal installments on August 12, 2026, 2027 and 2028, in each case contingent on Mr. Suerken’s continued employment with the company on the relevant vesting dates.

The Wendy's Company director reports new restricted stock units in a Form 4 filing. On December 15, 2025, the reporting person received two grants of derivative securities in the form of restricted stock units (RSUs) that each convert into shares of Wendy's common stock on a one-for-one basis.

The first line reflects 169 RSUs, described as dividend equivalent units issued on December 15, 2025, linked to previously vested RSUs that became fully vested on May 21, 2025, with delivery of shares deferred until Ms. Arlin ceases to serve as a director. The second line reflects 245 RSUs, also described as dividend equivalent units, tied to RSUs scheduled to vest in full on the earlier of May 21, 2026 or the 2026 annual meeting of stockholders, with delivery likewise deferred until her board service ends.

Both RSU transactions show an exercise price of $0 and are reported as directly owned derivative securities. After these transactions, the filing shows updated RSU balances of 24,467 and then 24,712 derivative securities beneficially owned.

The Wendy's Company director reports new restricted stock units in a routine insider filing. On 12/15/2025, director Ms. Dolan received 245 restricted stock units as dividend equivalent units tied to the company’s common stock. Each unit represents a contingent right to receive one share of common stock, at no exercise price, and is reported as a derivative security. These restricted stock units will vest in full on the earlier of May 21, 2026 or the date of the company’s 2026 annual meeting of stockholders. After this transaction, Ms. Dolan beneficially owns 14,610 derivative securities directly, with vested shares to be delivered when she terminates service as a director.

The Wendy’s Company completed a $450 million securitized financing through Wendy’s Funding, LLC, issuing Series 2025-1 5.422% Fixed Rate Senior Secured Notes, Class A-2. These notes are backed by most of the company’s domestic and certain foreign revenue-generating assets, including franchise-related agreements, real estate interests and intellectual property held by dedicated securitization subsidiaries that guarantee the obligations.

The notes pay quarterly interest and principal, have an anticipated repayment date in December 2032 and a legal final maturity in December 2055; if they are not repaid or refinanced by the anticipated date, additional interest will accrue based on U.S. Treasury yields plus stated margins. Net proceeds will be used to repay existing Series 2019-1 3.783% Fixed Rate Senior Secured Notes, Class A-2-I, retire 7.00% Debentures due December 15, 2025, cover transaction fees and expenses, and support general corporate purposes including potential growth initiatives, return of capital to shareholders and further debt repayment. The company also entered into amended base indenture and management agreements that, once specified conditions are met, provide greater flexibility around asset disposition proceeds, future note issuance and certain debt incurrence tests, while maintaining covenants, rapid amortization triggers and customary events of default.

The Wendy's Company officer reports small stock purchase

An officer of The Wendy's Company (WEN), serving as President, U.S., reported buying 500 shares of common stock on 11/20/2025 at a price of $7.88 per share. After this open-market purchase, the officer beneficially owns about 1,203.5042 common shares directly. This filing is a routine Form 4 disclosure of insider share ownership and trading activity.

The Wendy's Company officer reports small stock purchase

An officer of The Wendy's Company (WEN), serving as Chief Legal Officer and Secretary, reported buying 1,700 shares of Wendy's common stock in an open-market transaction on 11/19/2025 at a price of $8.18 per share. After this purchase, the officer beneficially owns 3,004.9 shares directly. This filing is a routine disclosure of insider trading activity required by regulators and does not describe any change to the company’s operations or financial performance.

The Wendy’s Company has agreed to issue and sell $450,000,000 of Series 2025-1 5.422% Fixed Rate Senior Secured Notes, Class A-2, through its securitization master issuer, Wendy’s Funding, LLC. The notes are being sold in a privately placed securitization to initial purchasers led by Barclays Capital Inc., with interest paid quarterly.

The notes have an anticipated repayment date in December 2032, after which additional interest will accrue if they are not repaid or refinanced, based on a formula tied to 10‑year U.S. Treasury yields plus stated spreads. Closing is expected by the end of the fourth quarter of 2025, subject to customary closing conditions in the purchase agreement, and there is no assurance the transaction will be completed.

The securities will not be registered under the Securities Act and may only be offered or sold in the United States under an applicable exemption. The purchase agreement includes customary representations, covenants and indemnification of the initial purchasers against certain liabilities, including under the Securities Act.

The Wendy’s Company announced that its subsidiaries have begun marketing a financing for an offering of a new series of securitized notes. They intend to issue a combined aggregate principal amount of $400 million in new fixed rate senior secured notes, the Series 2025-1 Class A-2 Notes.

Wendy’s plans to use the net proceeds to repay its outstanding Series 2019-1 3.783% Fixed Rate Senior Secured Notes, Class A-2-I, repay its 7.00% Debentures due December 15, 2025, pay transaction fees and expenses, and for general corporate purposes, which may include funding growth initiatives, returning capital to shareholders, and additional debt repayment.

The offering is subject to market and other conditions, and there is no assurance on timing or completion. The notes will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption.