Welcome to our dedicated page for Wendy's Co SEC filings (Ticker: WEN), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Wendy's Company files SEC reports that document its quick-service restaurant system, Nasdaq-listed common stock, operating results, governance matters, and capital structure. Its 8-K filings cover quarterly and annual results, Regulation FD disclosures, material agreements, shareholder voting matters, and other company events tied to franchise operations, restaurant sales, royalties, fees, and advertising funds.
WEN filings also include proxy materials covering board and shareholder governance, ownership-related disclosures such as Schedule 13D amendments, and financing records for subsidiary-issued securitized notes. Those financing disclosures describe collateral tied to franchise-related agreements, real estate assets, and intellectual property and license agreements within the Wendy's system.
Wendy's Co CMO, U.S. Lindsay J. Radkoski reported mixed equity transactions involving company common stock. On February 23, 2026, she acquired 2,511 shares at no cost through settlement of performance units granted in February 2023 under the long-term incentive plan.
On the same date, 864 shares of common stock were disposed of at $7.77 per share to cover tax obligations, described as a tax-withholding disposition. After these transactions, her directly held common stock position was 36,948 shares.
Wendy's Co Chief Information Officer Matthew P. Spessard reported equity award activity involving restricted stock units and common shares. On February 20, 2026, he exercised 3,481 restricted stock units, receiving the same number of shares of common stock at a price of $0.00 per share. In a related tax-withholding transaction, 1,189 common shares were disposed of at $8.09 per share to cover tax obligations. After these transactions, he held 10,095 shares of common stock directly and 62,690 restricted stock units, which include 201 dividend equivalent units. The remaining restricted stock units are scheduled to vest in two equal installments on February 20, 2027 and February 20, 2028, subject to his continued employment.
The Wendy’s Company files its annual report describing a large, mostly franchised quick-service burger system and a new U.S. strategic plan called Project Fresh. The chain operated 7,397 restaurants worldwide as of December 28, 2025, including 5,969 in the U.S. and 1,428 internationally.
During 2025, Wendy’s opened 268 restaurants and closed 111, and expects incremental U.S. closures equal to 5%–6% of its domestic base as it optimizes underperforming sites. The company employed about 14,900 people, emphasized brand, food safety, technology and human-capital programs, and detailed extensive competitive, macroeconomic, franchising and operational risks.
The Wendy’s Company filed a current report to share a press release responding to an amended Schedule 13D filing by Trian Fund Management and its affiliates. The company says its board and management regularly review strategic priorities with the goal of maximizing value for all shareholders.
The board states it will carefully evaluate any proposal Trian may submit, consistent with its fiduciary duties. Wendy’s also reiterates that it is executing its “Project Fresh” turnaround plan to strengthen its U.S. business while continuing international growth, and expresses confidence in its brand, team, franchisees, and long-term plans.
Trian-affiliated investors filed Amendment No. 64 to update their ownership and intentions in The Wendy's Company. As of 4:00 p.m. on February 17, 2026, the filing group beneficially owned 31,078,148 shares of common stock, or about 16.33% of Wendy’s outstanding shares, based on 190,339,781 shares outstanding as of October 30, 2025.
The filing states that the investors believe Wendy’s stock is undervalued and that they are actively reviewing alternatives for their sizable stake. They may buy more shares, sell shares, use derivatives, or pursue strategic or extraordinary transactions, potentially with financing sources, co‑investors or strategic partners. These could include proposals that might result in acquiring control of Wendy’s and possibly lead to a de‑listing or de‑registration of the stock, although no specific transaction is committed and no assurance is given that any deal will occur.
AQR Capital Management, LLC and AQR Capital Management Holdings, LLC report a significant ownership stake in Wendy's Co. They disclose beneficial ownership of 11,705,610 shares of Wendy's common stock, representing 6.15% of the outstanding class as of the event date.
The AQR entities report zero sole voting or dispositive power, but shared voting and shared dispositive power over all 11,705,610 shares. They certify the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Wendy's Co.
The Wendy’s Company reported softer results for 2025 and a cautious 2026 outlook. For 2025, total revenues declined to $2,176.9 million from $2,246.5 million, while net income fell to $165.1 million and diluted earnings per share decreased to $0.85 from $0.95. Global systemwide sales declined 3.5%, with U.S. same-restaurant sales down 5.6% and international systemwide sales up 8.1%. Adjusted EBITDA slipped to $522.4 million and free cash flow to $205.4 million. The company declared a $0.14 per-share quarterly dividend, with about 190.4 million shares outstanding as of February 6, 2026. For 2026, Wendy’s expects approximately flat global systemwide sales, adjusted EBITDA of $460 to $480 million, adjusted earnings per share of $0.56 to $0.60, and free cash flow of $190 to $205 million, while continuing its Project Fresh turnaround plan.
The Wendy’s Company provided an update on its search for a permanent Chief Executive Officer. The Board of Directors, supported by a leading global executive search firm, is evaluating a strong group of internal and external candidates with the experience and leadership skills it believes are needed to guide Wendy’s through its next phase of growth and continue executing the company’s turnaround plans.
The Board emphasized that the CEO selection process is progressing well and expressed confidence in both the candidates under consideration and the current management team. It highlighted ongoing collaboration with Interim CEO Ken Cook and senior leadership to maintain continuity and execution. The company also confirmed that it will release its fourth quarter and full year 2025 results on February 13, 2026, as previously announced.
Wendy's Co director Kristin A. Dolan received 1,564 shares of common stock on January 5, 2026, as a stock grant under the company’s 2020 Omnibus Award Plan. The shares were issued in lieu of a portion of her quarterly Board retainer and Board committee fees that would otherwise have been paid in cash.
The grant was priced at $8.37 per share, based on the average closing price over the 20 trading days before the fees would have been payable. Following this award, Ms. Dolan beneficially owns 46,708 shares of Wendy’s common stock, held directly.
Wendy's Company director Bradley G. Peltz received additional stock-based board compensation. On 01/05/2026, he was issued 2,942 shares of Wendy's common stock at $8.37 per share under the Company's 2020 Omnibus Award Plan instead of taking his quarterly Board and Board committee retainer fees in cash. After this grant, he beneficially owns 21,012 common shares directly and 132,397 common shares indirectly through the Peltz 2009 Family Trust.