Wendy's Co — Form 10-Q
Filed August 7, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 68/100
What the filing says
Robert D. Wright appointed President & CEO effective May 21, 2026, with $1M annual base salary, 175% target bonus, and $6M annual equity grant (60% PSUs, 15% RSUs, 25% stock options vesting ratably over 3 years). Steven W. Cirulis hired as CFO & Chief Strategy Officer starting June 23, 2026, at $675K base, 90% bonus target, and $1.65M annualized equity target. Both executives subject to 24-month (Wright) and 18-month (Cirulis) non-compete covenants post-termination; Wright receives 24-month severance (base + target bonus); both eligible for pro-rata vesting on change-of-control termination within 12 months.
Why this rating
CEO hire is material leadership event at $1.8B company (~$7-8M total comp + equity per year), but boilerplate employment terms. No transaction or strategic shift disclosed. Standard C-suite succession governance.
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