WEN Wendy's Co

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q1 2026: $123M, Q3 2025: $26M, Q2 2025: $27M, Q1 2025: $7M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $123M vs trailing avg $20M (+513%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-219M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 118,920,000 shares = 62.5% of 190,324,000 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

5 open-market purchases by 5 insiders

• Suerken Peter J. JR (President, U.S.) bought 500 shares at $7.88 on 2025-11-20
• Min John (Chief Legal Ofcr & Secretary) bought 1,700 shares at $8.18 on 2025-11-19
• Radkoski Lindsay J. (CMO, U.S.) bought 5,050 shares at $11.68 on 2025-06-03
• Cook Kenneth M. (Chief Financial Officer) bought 1,500 shares at $11.35 on 2025-05-23
• O'Brien Matthew Coley (Chief People Officer) bought 1,750 shares at $11.60 on 2025-05-21

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 4 quarters and 5 insider purchases by 5 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $0M in the last 90 days (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected