Spessard Matthew P 4

What Happened
Matthew P. Spessard, Chief Information Officer of Wendy's Co., was granted a total of 1,247 derivative awards on March 16, 2026, comprised of restricted stock units (RSUs) and dividend-equivalent units: 12, 46, 138, 175 and 876-unit grants (each granted at $0.00 as RSUs/derivatives). These are awards (not open-market purchases or sales) and represent contingent rights to receive shares of Wendy's common stock upon vesting.

Key Details

• Transaction date and type: March 16, 2026 — Award/Grant (code A); reported on Form 4 filed March 18, 2026. Grant price shown as $0.00 (typical for RSU grants).
• Units granted: 12 + 46 + 138 + 175 + 876 = 1,247 total RSUs/derivative units.
• Shares owned after transaction: Not specified in the provided excerpt — see the full Form 4 filing for total beneficial ownership.
• Notable footnotes: awards include dividend equivalent units (F3) and tandem dividend-equivalent and tax withholding rights (F1); each RSU equals a contingent right to one share (F2). Vesting occurs in future installments per the filing (see F4–F8 for specific vesting dates and installment schedules), and vesting is subject to continued employment.
• Timeliness: Filing was submitted March 18 for a March 16 transaction, which is within the typical two-business-day Form 4 reporting window.

Context
RSUs are compensation awards that convert into actual shares only when vesting conditions are met; they do not represent immediate purchases or sales. Dividend-equivalent units indicate the holder will receive payments equivalent to dividends on the underlying shares (or units) while the RSUs are outstanding. Such grants are common executive compensation and should be viewed as compensation-related awards rather than a direct buy/sell signal.