Arlin Wendy C. 4

What Happened

• Wendy C. Arlin, a director of Wendy's Company (WEN), was awarded a total of 492 restricted stock units (RSUs) on March 16, 2026: 201 RSUs and 291 RSUs. Both entries show an acquisition at $0.00 (award/grant), so no cash changed hands. These are derivative awards that represent contingent rights to receive common shares upon vesting/delivery.

Key Details

• Transaction date(s): March 16, 2026 (reported on Form 4 filed March 18, 2026). Transaction code: A (award/grant).
• Price: $0.00 per unit; total cash value reported: $0.
• Nature of award: RSUs (each RSU = right to one share) and dividend equivalent units credited (see footnotes).
• Vesting/delivery terms:
  • One tranche (per footnote F3) vested in full on May 21, 2025 but delivery is deferred until Ms. Arlin’s termination as a director.
  • The other tranche (per footnote F4) will vest in full on the earlier of May 21, 2026 or the date of the 2026 annual meeting; vested shares will be delivered upon termination as a director.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Report filed March 18 for a March 16 transaction — appears timely (Form 4 is generally due within two business days).

Context

• These transactions are awards of RSUs (derivative securities), not open-market purchases or sales; they do not by themselves indicate an insider buying or selling stock for market exposure. Dividend equivalent units (footnote F2) are additional RSU credits reflecting dividends. Because one tranche is vested but delivery is deferred until termination, Ms. Arlin does not currently receive those shares in hand.