Velez Cadavid Jose Alberto 4

What Happened
Jose Velez Cadavid, a director of Arcos Dorados Holdings Inc. (ARCO), received a grant of 4,435 Phantom Restricted Stock Units (Phantom RSUs) on May 10, 2026. These are derivative awards (transaction code A) that do not transfer Company shares today; instead each Phantom RSU represents the cash equivalent of one Class A share’s closing price at vesting plus any dividends since the grant date. The filing reports no per-share price or immediate cash value (N/A).

Key Details

• Transaction date: 2026-05-10; Form 4 filed: 2026-05-12 (filed within the typical two-business-day window).
• Award: 4,435 Phantom RSUs; price/value: N/A on grant (cash value determined at vesting).
• Shares owned after transaction: not specified in the provided filing details.
• Footnotes:
  • F1: Each Phantom RSU = cash equivalent of one Class A share’s closing price at vesting + any paid dividends.
  • F2: Phantom RSUs were issued under the issuer’s Phantom RSU policy without instruction from the reporting person.
• Transaction type: A = Award/Grant (derivative cash-settled unit).

Context
Phantom RSUs are a form of compensation that pay cash based on future share price and do not represent current share ownership or an open-market purchase/sale. Such grants are routine compensation and do not necessarily signal the insider’s view to buy or sell company stock.