[Form 4] Dine Brands Global, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filed on 10 July 2025 discloses that Michael C. Hyter, a director of Dine Brands Global, Inc. (DIN), acquired 95.215 restricted stock unit (RSU) dividend-equivalent rights on 9 July 2025. Each right represents the economic value of one common share and was issued at a price of $0.00 in line with the company’s dividend policy. Following the transaction, Hyter holds 4,827.96 RSU-linked derivative securities directly. The filing contains no sale of shares, no change in direct common-stock ownership, and no amendments to prior reports.

The transaction reflects routine accrual of dividend equivalents rather than discretionary insider buying or selling, providing limited insight into management’s view on DIN’s valuation. No financial performance metrics or earnings information are included in the filing.

Insights

Corporate Governance Analyst

TL;DR – Routine dividend-equivalent RSUs; neutral signal, minimal market impact.

This Form 4 records automatic accrual of 95.215 dividend-equivalent RSUs to Director Michael Hyter, tied to previously granted restricted stock units. Because the award is contractual and priced at $0, it neither reflects active insider buying nor signals valuation sentiment. The director’s aggregate derivative position rises to roughly 4.8k units, still immaterial relative to DIN’s ~15 million shares outstanding. No changes in common-stock ownership, no dispositions, and no cash outlay suggest negligible dilution or governance concerns. Overall impact on shareholders and trading dynamics is neutral.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

PASQUALE DOUGLAS M

(Last) (First) (Middle)

10 WEST WALNUT STREET

5TH FLOOR

(Street)

PASADENA CA 91103

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Dine Brands Global, Inc. [ DIN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units (Dividend Equivalent Rights)	(1)	07/09/2025		A		95.215		(2)	(2)	Common Stock	95.215	$0.00	4,827.96	D

Explanation of Responses:

1. Each dividend equivalent right is the economic equivalent of one share of common stock.

2. Represents dividend equivalent rights that accrued on the underlying award of restricted stock units. Dividend equivalent rights accrue when and as dividends are paid on the common stock underlying the applicable restricted stock units and vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted stock units to which they relate.

	/s/ Christine K. Son as attorney-in-fact for Douglas M. Pasquale	07/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Director Michael Hyter report in DIN's latest Form 4?

He received 95.215 dividend-equivalent restricted stock units on 9 Jul 2025 priced at $0.00.

Does the filing show any insider selling of DIN shares?

No. The Form 4 reports an automatic accrual of RSUs; there were no dispositions or sales.

How many DIN derivative securities does Hyter own after the transaction?

The director now directly holds 4,827.96 RSU-linked derivative securities.

Are dividend-equivalent rights dilutive to existing shareholders?

They can be if converted to common stock, but the 95-unit size is immaterial relative to DIN’s share count.

Is this transaction part of a 10b5-1 trading plan?

The box indicating a Rule 10b5-1 plan was not checked; the grant is routine under the RSU program.