Kale Aaron M. 4

What Happened
Aaron M. Kale, Chief Accounting Officer of Wendy's Co. (WEN), was granted three awards of restricted stock units (RSUs) on June 15, 2026: 35 RSUs, 57 RSUs and 131 RSUs — a total of 223 RSUs. The awards are reported as derivative transactions with a $0.00 per-share price in the filing (typical for RSU grants, which are contingent rights to receive shares). The filing was submitted on June 17, 2026.

Key Details

• Transaction date: June 15, 2026 (filed June 17, 2026). Type: A = Award/Grant (derivative RSUs).
• Shares/units granted: 35 RSUs; 57 RSUs; 131 RSUs — total 223 RSUs. Reported price: $0.00 (derivative award).
• Reported value in filing: $0 (reporting convention for RSU grants).
• Shares owned after transaction: not specified in the supplied filing.
• Notable footnotes: awards include dividend equivalent rights and tax-withholding rights; each RSU is a contingent right to one share; dividend equivalent units were issued on June 15, 2026; vesting schedules vary (one remaining installment on Aug 11, 2026; two equal installments on Aug 5, 2026 and 2027; three equal installments on Aug 12, 2026, 2027 and 2028).
• Administrative: a power of attorney is attached to the filing as Exhibit 24. No late filing was indicated; the Form 4 was filed within two business days.

Context
These are grant/award transactions (RSUs), not open-market purchases or sales. RSUs are a form of deferred compensation that convert to shares if vesting conditions are met — they do not represent immediate cash investment by the insider. Dividend equivalent units were issued with the awards and vesting is tied to continued employment on the specified dates.