# EDGAR Filing Document

**Accession Number:** 0000030697
**File Stem:** 0001193125-25-156450
**Filing Date:** 2025-7
**Character Count:** 21884
**Document Hash:** b8212360b81a72e25d082b71d703a704
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-156450.hdr.sgml**: 20250708

**ACCESSION NUMBER**: 0001193125-25-156450

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250701

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250708

**DATE AS OF CHANGE**: 20250708

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wendy's Co
- **CENTRAL INDEX KEY:** 0000030697
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-EATING & DRINKING PLACES [5810]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 380471180
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1228

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-02207
- **FILM NUMBER:** 251109606

**BUSINESS ADDRESS:**
- **STREET 1:** ONE DAVE THOMAS BLVD
- **CITY:** DUBLIN
- **STATE:** OH
- **ZIP:** 43017
- **BUSINESS PHONE:** (614) 764-3100

**MAIL ADDRESS:**
- **STREET 1:** ONE DAVE THOMAS BLVD
- **CITY:** DUBLIN
- **STATE:** OH
- **ZIP:** 43017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WENDY'S/ARBY'S GROUP, INC.
- **DATE OF NAME CHANGE:** 20080926

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRIARC COMPANIES INC
- **DATE OF NAME CHANGE:** 19931109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DWG CORP
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, DC 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of Earliest Event Reported): July 1, 2025

## THE WENDY'S COMPANY

#### (Exact name of registrant, as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **1-2207** | **38-0471180** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(I.R.S. Employer**<br> **Identification No.)** |
| **One Dave Thomas Boulevard, Dublin, Ohio** | **One Dave Thomas Boulevard, Dublin, Ohio** | **43017** |
| **(Address of principal executive offices)** | **(Address of principal executive offices)** | **(Zip Code)** |

---

(614) 764-3100

#### (Registrant's telephone number, including area code)

#### Not Applicable

#### (Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| Common Stock, $.10 par value | WEN | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**  |

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(b), (c) and (d) On July 1, 2025, Kirk Tanner, President and Chief Executive Officer of The Wendy's Company (the "Company"), notified the Board of Directors of the Company (the "Board") of his intention to resign from his positions as President and Chief Executive Officer and Director of the Company, effective July 18, 2025, to become the President and Chief Executive Officer of The Hershey Company.

Subsequently, the Board appointed Ken Cook, age 44, the Company's Chief Financial Officer, as Interim Chief Executive Officer, effective July 18, 2025. Mr. Cook will also continue to serve as the Company's Chief Financial Officer and will serve as Interim Chief Executive Officer until such time as the Board determines. Mr. Cook has served as the Company's Chief Financial Officer since December 2024. Prior to joining the Company, Mr. Cook spent 20 years at United Parcel Service, Inc. ("UPS") in roles of increasing responsibility, including having most recently served as Head of Financial Planning and Analysis from September 2024 to November 2024. Prior to that, Mr. Cook served as Chief Financial Officer for the $60 billion U.S. Domestic segment of UPS from September 2023 to August 2024, Investor Relations Officer from 2022 to 2023, Vice President, Investor Relations from 2020 to 2022, Vice President, Assistant Treasurer from 2017 to 2020 and Chief Financial Officer, South Asia from 2014 to 2017.

There are no arrangements or understandings between Mr. Cook and any other person pursuant to which Mr. Cook was appointed as Interim Chief Executive Officer. Neither Mr. Cook nor any member of his immediate family has had (or proposes to have) a direct or indirect interest in any transaction in which the Company or any of its subsidiaries was (or is proposed to be) a participant that would be required to be disclosed under Item 404(a) of Regulation S-K.

As of the date of filing of this Current Report on Form 8-K, the Company has not entered into any material plan, contract or arrangement or made any amendment thereto or made any grant or award, in each case in connection with Mr. Cook's appointment as Interim Chief Executive Officer, and Mr. Cook's previously reported compensatory arrangements, grants and awards remain in effect. To the extent any such arrangements are amended, or any new material plan, contract or arrangement or amendment is entered into in connection with Mr. Cook's appointment as Interim Chief Executive Officer, including any new grant or award, the Company will file an amendment to this Current Report on Form 8-K within four business days after the Company enters into any such plan, contract, arrangement, amendment, grant or award to include the information required by Item 5.02(c)(3) of Form 8-K.

In connection with the above-described changes the Board determined that, effective upon Mr. Tanner's departure from the Board on July 18, 2025, the size of the Board will be reduced from 10 to 9 directors.

Furthermore, on July 3, 2025, Matthew H. Peltz informed the Company of his resignation from the Board, effective as of July 8, 2025, to devote more time to other business commitments. Mr. M. Peltz has served as a director of the Company since 2015 and as Vice Chairman since 2021. Subsequently, the Board filled the vacancy resulting from Mr. M. Peltz's resignation by electing Bradley G. Peltz to serve as a director of the Company, effective on July 8, 2025.

Mr. B. Peltz will serve as a member of the Board until the Company's 2026 annual meeting of stockholders, which is expected to be held in May 2026 (the "2026 Annual Meeting") and until his successor is elected and qualified, or until his earlier death, resignation, retirement, disqualification or removal. In conjunction with his election to the Board, Mr. B. Peltz has been appointed to serve on the Technology Committee and the Corporate Social Responsibility Committee of the Board.

There are no arrangements or understandings between Mr. B. Peltz and any other persons pursuant to which Mr. B. Peltz was selected as a director.

Mr. B. Peltz is the son of Nelson Peltz, the former non-executive Chairman of the Company and the brother of Mr. Matthew H. Peltz, a former director of the Company. Mr. B. Peltz is a Managing Director of, and holds a minority ownership interest in, Yellow Cab Holdings, LLC ("Yellow Cab"), a Wendy's franchisee that owns and operates 89 Wendy's restaurants, and/or certain of the operating companies managed by Yellow Cab. During fiscal year 2025 through June 29, 2025, the Company received approximately $7.6 million in royalty, advertising fund, lease and other payments from Yellow Cab and related entities. Reference is made to the "Certain Relationships and Related Person Transactions" section of the Company's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 3, 2025 (the "2025 Proxy Statement") for further details regarding the Company's relationship with Yellow Cab, which description is incorporated herein by reference.

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In his capacity as a non-management director of the Company, Mr. B. Peltz will receive the same compensation as the other non-management directors of the Company, prorated for the period from his election to the Board to the date of the 2026 Annual Meeting. The Company's compensation program for non-management directors is described under the "Compensation of Directors" caption in the 2025 Proxy Statement, which description is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure.**  |

---

On July 8, 2025, the Company issued a press release relating to the matters described above in Item 5.02. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. The information in this Item 7.01 of Form 8-K and Exhibit 99.1 attached hereto are being furnished pursuant to Item 7.01 of Form 8-K and therefore shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.**  |

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(d) <u>Exhibits</u>

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| | |
|:---|:---|
| **Exhibit<br>No.** | **Description** |
| 99.1 | [Press release issued by The Wendy's Company on July 8, 2025.](d22220dex991.htm) |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document). |

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | **THE WENDY'S COMPANY** | **THE WENDY'S COMPANY** |
| Date: July 8, 2025 | By: | /s/ Mark L. Johnson |
|  |  | Mark L. Johnson |
|  |  | Director – Corporate & Securities Counsel, and Assistant Secretary |

---

## Exhibit 99.1

**Exhibit 99.1** 

**WENDY'S APPOINTS KEN COOK AS INTERIM CEO** 

***Kirk Tanner to Depart Wendy's for CEO Role at The Hershey Company***

DUBLIN, Ohio, July 8, 2025 /PRNewswire/ — The Wendy's Company (Nasdaq: WEN) today announced that Kirk Tanner, President and Chief Executive Officer, is leaving to become the President and CEO at The Hershey Company (NYSE: HSY) and will depart The Wendy's Company effective July 18, 2025. Wendy's Board of Directors has launched a comprehensive search process to select a permanent CEO.

The Board has appointed Ken Cook, Chief Financial Officer of the Company, as Interim CEO. Cook, who remains CFO, played a major role in developing Wendy's long-term growth strategy. Prior to joining the Company, Cook spent 20 years at United Parcel Service, Inc. in roles of increasing responsibility, including having most recently served as Head of Financial Planning and Analysis. Prior to that, he served as Chief Financial Officer for the $60 billion U.S. Domestic segment of UPS.

Art Winkleblack, Chairman of the Board, said, "Our senior leadership team has established a very clear strategic blueprint for growth and is already beginning to execute on this strategy. We are grateful to Ken for accepting the role of interim CEO and have the utmost confidence in him and the senior leadership team to lead the Company and to continue to execute on our growth plan."

"I look forward to executing on the strategic priorities we shared at our Investor Day: providing fresh, famous food, delivering an exceptional customer experience, and accelerating global net unit growth," said Cook. "We have a strong team and the right strategy in place to create value for our customers, franchisees, employees and shareholders."

Winkleblack added, "We understand Kirk's decision to return to the consumer-packaged goods industry and wish him well in leading Hershey."

"It has been a privilege to lead Wendy's, an iconic brand, and I leave with a sense of gratitude for our employees and franchisees who make the Company a truly special place," said Tanner. "The brand is of the highest quality in the quick service restaurant industry, and I believe there is tremendous growth potential ahead for all Wendy's stakeholders."

In addition, the Company announced that Bradley G. Peltz has been elected to serve as a director of the Company and will replace Matthew H. Peltz, who has resigned from the Board, effective today, to devote more time to his other commitments. Winkleblack said, "We are grateful to Matt for his many contributions to Wendy's over the years. We have made tremendous progress as a brand since Matt joined the Board, and we wish him all the best in his future endeavors." Winkleblack also said, "We are excited to have Brad join our Board. Brad is a Managing Director of Yellow Cab Holdings, a Wendy's franchisee with restaurants in New York, New Jersey and Pennsylvania. His creativity and connection to our customers and franchise community will provide valuable insights to Wendy's."

The Wendy's Company is scheduled to release its second quarter 2025 results on August 8, 2025.

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**Forward-Looking Statements** 

This release contains certain statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Generally, forward-looking statements include the words "may," "believes," "plans," "expects," "anticipates," "intends," "estimate," "goal," "upcoming," "outlook," "guidance" or the negation thereof, or similar expressions. In addition, all statements that address future operating, financial or business performance, strategies or initiatives, future efficiencies or savings, anticipated costs or charges, future capitalization, anticipated impacts of recent or pending investments or transactions and statements expressing general views about future results or brand health are forward-looking statements within the meaning of the Reform Act. Forward-looking statements are based on the Company's expectations at the time such statements are made, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors. For all such forward-looking statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. The Company's actual results, performance and achievements may differ materially from any future results, performance or achievements expressed or implied by the Company's forward-looking statements.

Many important factors could affect the Company's future results and cause those results to differ materially from those expressed in or implied by the Company's forward-looking statements. Such factors include, but are not limited to, the following: (1) the impact of competition or poor customer experiences at Wendy's restaurants; (2) adverse economic conditions or disruptions, including in regions with a high concentration of Wendy's restaurants; (3) changes in discretionary consumer spending and consumer tastes and preferences; (4) impacts to the Company's corporate reputation or the value and perception of the Company's brand; (5) the effectiveness of the Company's marketing and advertising programs and new product development; (6) the Company's ability to manage the impact of social or digital media; (7) the Company's ability to protect its intellectual property; (8) food safety events or health concerns involving the Company's products; (9) our ability to deliver global sales growth and maintain or grow market share across our dayparts; (10) the Company's ability to achieve its growth strategy through new restaurant development; (11) the Company's ability to effectively manage the acquisition and disposition of restaurants or successfully implement other strategic initiatives; (12) risks associated with leasing and owning significant amounts of real estate, including environmental matters; (13) risks associated with the Company's international operations, including the ability to execute its international growth strategy; (14) changes in commodity and other operating costs; (15) shortages or interruptions in the supply or distribution of the Company's products and other risks associated with the Company's independent supply chain purchasing co-op; (16) the impact of increased labor costs or labor shortages; (17) the continued succession and retention of key personnel and the effectiveness of the Company's leadership and organizational structure; (18) risks associated with the Company's digital commerce strategy, platforms and technologies, including its ability to adapt to changes in industry trends and consumer preferences; (19) the Company's dependence on computer systems and information technology, including risks associated with the failure or interruption of

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its systems or technology or the occurrence of cyber incidents or deficiencies; (20) risks associated with the Company's securitized financing facility and other debt agreements, including compliance with operational and financial covenants, restrictions on its ability to raise additional capital, the impact of its overall debt levels and the Company's ability to generate sufficient cash flow to meet its debt service obligations and operate its business; (21) risks associated with the Company's capital allocation policy, including the amount and timing of equity and debt repurchases and dividend payments; (22) risks associated with complaints and litigation, compliance with legal and regulatory requirements and an increased focus on environmental, social and governance issues; (23) risks associated with the availability and cost of insurance, changes in accounting standards, the recognition of impairment or other charges, changes in tax rates or tax laws and fluctuations in foreign currency exchange rates; (24) conditions beyond the Company's control, such as adverse weather conditions, natural disasters, hostilities, social unrest, health epidemics or pandemics or other catastrophic events; (25) risks associated with the Company's predominantly franchised business model; and (26) other risks and uncertainties cited in the Company's releases, public statements and/or filings with the Securities and Exchange Commission, including those identified in the "Risk Factors" sections of the Company's Forms 10-K and 10-Q.

All future written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. New risks and uncertainties arise from time to time, and factors that the Company currently deems immaterial may become material, and it is impossible for the Company to predict these events or how they may affect the Company.

The Company assumes no obligation to update any forward-looking statements after the date of this release as a result of new information, future events or developments, except as required by federal securities laws, although the Company may do so from time to time. The Company does not endorse any projections regarding future performance that may be made by third parties.

**About Wendy's** The Wendy's Company (Nasdaq: WEN) and Wendy's<sup>®</sup> franchisees employ hundreds of thousands of people across more than 7,000 restaurants worldwide. Founded in 1969, Wendy's is committed to the promise of Fresh Famous Food, Made Right, For You, delivered to customers through its craveable menu including made-to-order square hamburgers using fresh beef\*, and fan favorites like the Spicy Chicken Sandwich and nuggets, Baconator<sup>®</sup>, and the Frosty<sup>®</sup> dessert. Wendy's supports the Dave Thomas Foundation for Adoption<sup>®</sup>, established by its founder, which seeks to dramatically increase the number of adoptions of children waiting in North America's foster care system. Learn more about Wendy's at <u>www.wendys.com</u>. For details on franchising, visit <u>www.wendys.com/franchising</u>. Connect with Wendy's on <u>X</u>, <u>Instagram</u> and <u>Facebook</u>.

\*Fresh beef available in the contiguous U.S. and Alaska, as well as Canada, Mexico, Puerto Rico, the UK, and other select international markets.

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<u>Investor Contact</u>:

Aaron Broholm

Head of Investor Relations

(614) 764-3345; <u>aaron.broholm@wendys.com</u>

<u>Media Contact</u>:

Heidi Schauer

Vice President – Communications, Public Affairs & Customer Care

(614) 764-3368; <u>heidi.schauer@wendys.com</u>