Berman Martin Karla Paola 4
4 · Arcos Dorados Holdings Inc. · Filed May 4, 2026
Research Summary
AI-generated summary of this filing
Arcos Dorados (ARCO) Director Berman Martin Receives Cash RSU Payout
What Happened
Berman Martin Karla Paola (listed as a director) had 4,988 Phantom Restricted Stock Units (Phantom RSUs) vest on April 30, 2026; the units were settled in cash, producing proceeds of $44,493 (4,988 × $8.92). The Form 4 shows the transaction coded as an in‑the‑money derivative exercise (code X) and the cash settlement occurred automatically under the award agreement.
Key Details
- Transaction date: April 30, 2026; filing date: May 4, 2026 (appears timely under Form 4 rules).
- Shares/units: 4,988 Phantom RSUs settled.
- Price/proceeds: $8.92 per share equivalent; total cash received reported as $44,493.
- Filing entries: exercise/settlement of derivative (code X); one line shows acquisition N/A and one shows disposal at $8.92 for $44,493.
- Shares owned after transaction: not stated in the provided excerpt of the filing.
- Footnotes: F1 — each Phantom RSU equals the cash equivalent of one Class A share’s closing price plus any dividends; F2 — the Phantom RSUs vested and were automatically settled in cash on April 30, 2026 without instruction from the reporting person.
Context
Phantom RSUs are cash‑settled awards (they do not deliver actual shares) and are commonly used for compensation. This transaction is a routine vesting/settlement rather than an open‑market buy or strategic sale of company stock, so it’s generally not a direct signal of the director’s market view.
Insider Transaction Report
- Exercise of In-Money
Class A common share
[F1]2026-04-30+4,988→ 4,988 total - Exercise of In-Money
Class A common share
2026-04-30$8.92/sh−4,988$44,493→ 0 total - Exercise of In-Money
Phantom Restricted Stock Unit
[F1][F2]2026-04-30−4,988→ 0 totalFrom: 2026-04-30Exp: 2026-04-30→ Class A common share (4,988 underlying)
Footnotes (2)
- [F1]Each Phantom Restricted Stock Unit ("Phantom RSU") represents the cash equivalent of the closing price of one Class A common share on the vesting date, plus any dividends paid on the Class A common share, if any, since the grant date.
- [F2]On April 30, 2026, the Phantom RSUs vested and were settled in cash automatically pursuant to the issuer's Phantom RSU Award Agreement, without any instruction from the reporting person.