Wendy's (WEN) 10% Owner Peter May Receives 4,009-Share Award

What Happened Peter W. May, a 10% owner and founding partner of Trian Management, was issued 4,009 shares of Wendy's Co. (WEN) on 2026-09-29 as an award (Form 4 code A). The shares were issued at $7.42 per share for a total value of $29,747. This was an award issued in lieu of quarterly Board and committee cash retainer fees.

Key Details

• Transaction date: 2026-09-29; Filing date (Form 4): 2026-10-01 (appears timely).
• Shares received: 4,009 at $7.42 each; total value $29,747.
• Shares owned after transaction: Not specified in this filing.
• Footnote highlights:
  • F1: Shares issued under the 2020 Omnibus Award Plan in lieu of board retainer fees; price equals the average closing price over the 20 trading days before the retainer payment date.
  • F2–F3: Mr. May is President and a founding partner of Trian Management, which manages the Trian Funds; he may be deemed to share voting/dispositive power over shares held by those entities, though he disclaims beneficial ownership except to the extent of any pecuniary interest.
• Transaction code: A (award/grant).

Context This was an in-kind board compensation award rather than an open-market purchase or sale, so it reflects routine director compensation rather than a direct market signal. As a 10% owner and senior figure at Trian-affiliated entities, disclosures include relationships that may affect voting or dispositive power over other Wendy's shares but do not necessarily indicate personal trading intent.