FRANQUI ANNETTE 4

What Happened
Annette Franqui, a director of Arcos Dorados Holdings Inc. (ARCO), received a grant of 4,435 Phantom Restricted Stock Units (Phantom RSUs) on May 10, 2026. The award is a derivative, cash-settled instrument (no share price or immediate share transfer reported). The filing lists the acquisition as a grant/award (transaction code A); no per-share price or total cash value was disclosed in the Form 4.

Key Details

• Transaction date: 2026-05-10; Form 4 filed: 2026-05-12 (timely filing).
• Instrument: 4,435 Phantom RSUs (derivative, cash-settled); price and total value: N/A in the filing.
• Shares owned after transaction: not specified in the provided filing.
• Footnotes:
  • Each Phantom RSU represents the cash equivalent of the closing price of one Class A common share on the vesting date, plus any dividends paid since grant.
  • The Phantom RSUs were issued under the issuer’s Phantom RSU compensation policy and were not the result of any instruction from the reporting person.
• Transaction code: A (award/grant).

Context
Phantom RSUs are a cash-settled compensation award — they do not transfer actual Class A shares now but entitle the holder to a cash payment based on the stock’s value at vesting. Such awards are routine executive/board compensation and are not direct purchases or sales of stock; they don’t by themselves indicate buying or selling sentiment.