Wendy's (WEN) CAO Aaron M. Kale Receives Award

What Happened

• Aaron M. Kale, Chief Accounting Officer of Wendy's Co (WEN), received three awards of restricted stock units (RSUs) on September 15, 2026 totaling 128 RSUs (13 + 42 + 73). Each unit is a contingent right to one share; the awards were granted at $0.00 (no cash exchanged) and are reported as derivative awards. Dividend equivalent units were issued in connection with these RSUs, and the awards are subject to tax withholding rights.

Key Details

• Transaction date: September 15, 2026; Form 4 filed September 17, 2026 (timely filing).
• Grants: 13 RSUs, 42 RSUs, and 73 RSUs (total 128 RSUs) at $0.00 per unit.
• Vesting:
  • 13 RSUs: one remaining installment vesting August 5, 2027 (subject to continued employment).
  • 42 RSUs: two equal installments vesting August 12, 2027 and August 12, 2028 (subject to continued employment).
  • 73 RSUs: three equal installments vesting August 11, 2027, 2028 and 2029 (subject to continued employment).
• Dividend equivalents were issued on September 15, 2026; the awards include tax withholding rights.
• Shares owned after the transaction: not specified in the filing.

Context

• These are time-based RSU awards (derivatives) that convert into actual shares only if vesting conditions are met; they are compensation awards rather than open-market purchases or sales. Such grants are common as employee compensation and do not by themselves indicate a buy or sell signal in the open market.