Hernandez Artigas Carlos 4

What Happened Carlos Hernandez Artigas, a director of Arcos Dorados Holdings Inc. (ARCO), received a grant of 4,435 Phantom Restricted Stock Units (Phantom RSUs) on May 10, 2026. This was an award (derivative grant), not an open-market purchase or sale; no per-share price or immediate cash value is reported because these Phantom RSUs are cash‑settled at vesting based on the Class A share closing price and any dividends.

Key Details

• Transaction date: 2026-05-10; Form 4 filed 2026-05-12 (timely filing).
• Transaction type/code: Award/Grant (A); amount: 4,435 Phantom RSUs; price: N/A (derivative, cash-settled).
• Shares owned after transaction: not specified in the filing.
• Footnotes: (F1) Each Phantom RSU represents the cash equivalent of one Class A common share’s closing price on vesting date plus any dividends. (F2) RSUs issued under the issuer’s Phantom RSU compensation policy, without instruction from the reporting person.
• No indication of 10b5-1 plan, tax withholding, or immediate sale in this filing.

Context Phantom RSUs are cash-settled awards (they do not transfer actual shares or voting rights at grant); the eventual payout depends on Arcos Dorados’ Class A share price at vesting. Such grants are common executive/director compensation and are not the same signal to the market as an outright purchase or sale of shares.