Wendy's (WEN) Chief Accounting Officer Aaron M. Kale Receives 2,209 Shares

What Happened
Aaron M. Kale, Wendy's Chief Accounting Officer, received 2,209 shares on August 12, 2026 upon conversion/vesting of restricted stock units (RSUs). The shares converted at no purchase price (RSUs convert to shares). To satisfy tax withholding, 599 shares were surrendered at $8.66 per share for a withholding value of $5,187, leaving Kale with a net of 1,610 shares. The gross market value of the 2,209 vested shares at $8.66 was approximately $19,130.

Key Details

• Transaction date: August 12, 2026; Form 4 filed August 14, 2026 (timely within the typical 2-business-day window).
• Reported actions: conversion of derivative (code M) for 2,209 RSUs → 2,209 shares; tax withholding (code F) of 599 shares @ $8.66 = $5,187.
• Net shares retained after withholding: 1,610 (2,209 vested − 599 withheld).
• Shares owned after transaction: not specified in the provided filing details.
• Footnotes of note:
  • F1: Each restricted stock unit equals a contingent right to one share.
  • F2/F3: Units include tandem dividend equivalents; 149 dividend-equivalent units accrued and were included.
  • F4: The RSUs were granted August 12, 2025 and vest in three equal annual installments; the first installment vested August 12, 2026.
• Transaction codes: M = exercise/conversion of derivative (here, RSU conversion); F = tax withholding (share surrender).

Context
This was a compensation-related vesting event (receipt of awarded RSUs), not an open-market purchase or sale by the insider. Withholding shares to cover taxes is a common, routine practice (cashless/stock-surrender withholding) and does not necessarily signal the insider’s market view.