CARUSO-CABRERA MICHELLE 4

What Happened Michelle Caruso-Cabrera, a director of Wendy's Co (WEN), was granted 20,967 shares on May 20, 2026. The Form 4 reports the transaction as an award/other acquisition (code A) at an acquisition price of $0. This was a grant of shares (compensation/award), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-20; filing date: 2026-05-22 (filed within the typical two-business-day window).
• Transaction type/code: Award/Grant (A).
• Shares acquired: 20,967; acquisition price reported: $0 (common for compensation awards).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes: None provided in the summary data.

Context Equity awards to directors are commonly part of compensation and may be subject to vesting or other restrictions; they do not by themselves indicate immediate buying or selling in the market. Purchases (P) are generally treated as a clearer bullish signal than awards. This filing appears timely and reflects a routine director compensation grant rather than an open-market investment.