Wendy's (WEN) CMO Lindsay Radkoski Exercises RSUs; Tax Withholding

What Happened

• Lindsay J. Radkoski, Chief Marketing Officer (U.S.) of Wendy's Co. (WEN), had restricted stock units (RSUs) convert to common shares on August 12, 2026. A total of 31,591 RSUs converted into 31,591 shares (27,878 + 3,713) at $0 acquisition price (these were vested awards, not purchased on the open market).
• To satisfy tax withholding obligations, 8,562 of those shares (7,555 + 1,007) were withheld/disposed at $8.66 per share, producing proceeds of $65,426 and $8,721 respectively (total tax withholding value ≈ $74,147). The transactions were reported on Form 4 filed August 14, 2026.

Key Details

• Transaction date: August 12, 2026 (reported Aug 14, 2026). Prices: RSU conversion at $0; withholding share value $8.66/share.
• Shares converted (acquired): 31,591; shares withheld for taxes (disposed): 8,562; net shares delivered to insider = 23,029 (31,591 − 8,562).
• Footnotes: RSUs each represent a right to one share (F1) and include tandem dividend equivalent rights and tax withholding rights (F2). The reported vested installments relate to grants made Aug 12, 2025: one grant vests in two installments (F4) and another vests in three installments (F6); the first installments vested Aug 12, 2026. Included in the totals are dividend equivalent units: 1,914 (F3) and 252 (F5).
• Filing timeliness: Form filed Aug 14 for an Aug 12 transaction — appears timely (not indicated as late).

Context

• This was not an open-market sale or purchase. It was RSU vesting followed by net share settlement (shares withheld to satisfy tax liabilities). Such tax-withholding dispositions are routine and do not necessarily indicate a change in sentiment.
• For retail investors: purchases by insiders can be more informative than routine vesting. Here, the material action is conversion of awards into shares with standard tax withholding; no additional cash purchase or open-market sale by the insider is reported.