Wendy's (WEN) CAO Aaron Kale Receives 1,415 Shares (RSU Vest)

What Happened
Aaron M. Kale, Chief Accounting Officer of Wendy's Co. (WEN), had 1,415 restricted stock units (RSUs) convert to common shares on August 5, 2026. The RSUs converted at an effective exercise/conversion price of $0.00. To satisfy tax withholding obligations, 404 of the newly issued shares were surrendered (disposed) at $7.99 per share for a total withholding value of $3,228, leaving a net of 1,011 shares issued to Mr. Kale. The underlying award included 168 dividend-equivalent units that had accrued.

Key Details

• Transaction date: August 5, 2026 (report filed Aug 7, 2026 — filed on time).
• Conversion: 1,415 RSUs converted to common stock (reported as derivative exercise/conversion, code M) at $0.00.
• Tax withholding: 404 shares withheld/disposed (code F) at $7.99 each = $3,228.
• Net shares received by insider: 1,011 (1,415 converted less 404 withheld).
• Footnotes: RSUs convert to one share each (F1); include tandem dividend equivalents and tax withholding rights (F2); the 1,415 includes 168 dividend-equivalent units (F3); these RSUs were granted Aug 5, 2024 and vest in three equal annual installments (F4).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context
This was a routine vesting of previously granted RSUs, not an open-market purchase or discretionary sale. The 404-share disposition was a standard withholding to cover tax liability (a cashless withholding), not an active sale for investment purposes. The RSUs were granted Aug 5, 2024 and vest over three years; the first and second installments vested Aug 5, 2025 and Aug 5, 2026, respectively.