De Luca Cristina Presz Palmaka 4

What Happened
Cristina De Luca Presz Palmaka, a director of Arcos Dorados Holdings Inc. (ARCO), was granted 4,435 Phantom Restricted Stock Units (Phantom RSUs) on 2026-05-10. The award is a derivative, cash-settled instrument (no share price or immediate stock delivered reported), so the present dollar value is not provided in the filing. The Phantom RSUs represent the cash equivalent of the closing price of one Class A share at vesting plus any dividends (see footnote F1). The award was issued under the company’s Phantom RSU compensation policy without instruction from the reporting person (footnote F2).

Key Details

• Transaction date: 2026-05-10 (reported on Form 4 filed 2026-05-12). Filing appears timely under normal Form 4 rules.
• Transaction type/code: A — Grant/Award of derivative units (Phantom RSUs).
• Units granted: 4,435 Phantom RSUs. Price/transaction value: N/A (cash-settled at vesting per F1).
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes: F1 — each Phantom RSU = cash equivalent of one Class A share at vesting + dividends; F2 — issued under issuer policy without reporting person instruction.
• No 10b5-1 plan, tax withholding, or immediate sale noted in the filing.

Context
Phantom RSUs are a form of deferred, cash-settled compensation: they don’t transfer actual shares now and generally pay an amount tied to the company’s share price (and dividends) when they vest. Grants like this are routine for directors and employees as compensation and do not by themselves indicate a buy/sell signal. Retail investors should note value and final impact on ownership only when vesting occurs and payment terms are specified.