Dine Brands Global, Inc. — Form 8-K

On October 28, 2026, Dine Brands' Board unanimously adopted a limited-duration stockholder rights agreement (expiring October 27, 2027) in response to media reports of significant open market accumulation in the company's stock and derivatives. The Rights Agreement grants one preferred share purchase right per common share to stockholders of record November 9, 2026. Rights become exercisable if any person/group acquires 20% or more (passive investor) or 10% or more (non-passive investor) of outstanding shares without Board approval, entitling other rights holders to purchase additional common stock at a 50% discount. The Board may redeem rights at $0.001 per right or exchange them at a 1:1 ratio. Existing shareholders above the threshold as of announcement are grandfathered unless they increase holdings post-announcement.