BlackRock Amendment No.5 shows 10.4% stake in Wendy's (NASDAQ: WEN)

Rhea-AI Filing Summary

BlackRock, Inc. filed Amendment No. 5 to Schedule 13G/A reporting beneficial ownership of 19,753,790 shares of Wendy's Co. common stock, equal to 10.4% of the class. The filing lists sole voting power of 19,332,195 shares and sole dispositive power of 19,753,790. The schedule includes a standard Item 6 disclosure about multiple beneficial owners and is signed by Spencer Fleming on 04/24/2026.

Insights

Institutional Holdings Analyst

BlackRock reports a >10% stake in Wendy's (10.4% of class).

BlackRock's amendment states ownership of 19,753,790 shares, representing 10.4% of Wendy's common stock. The filing specifies voting and dispositive power counts, which clarify internal control metrics for large holders.

Cash‑flow treatment or intended actions are not disclosed; subsequent 13D/13G activity or fund-level statements would reveal changes in intent or disposition plans.

Corporate Governance Expert

Filing documents institutional position and voting authority without indicating activist intent.

The schedule shows sole voting power 19,332,195 and sole dispositive power 19,753,790. Item 6 clarifies multiple beneficiaries may hold interests through pooled vehicles.

Because the filing is a Schedule 13G/A amendment, governance implications depend on whether holdings remain passive; the filing excerpt does not state intent.

Key Figures

Beneficial ownership: 19,753,790 shares Percent of class: 10.4% Sole voting power: 19,332,195 shares +2 more

5 metrics

Beneficial ownership 19,753,790 shares Amount beneficially owned reported on Schedule 13G/A

Percent of class 10.4% Percent of Wendy's common stock class

Sole voting power 19,332,195 shares Number of shares with sole power to vote

Sole dispositive power 19,753,790 shares Number of shares with sole power to dispose

Signature date 04/24/2026 Date signature block was signed by Spencer Fleming

Key Terms

Schedule 13G/A, beneficially owned, sole dispositive power, CUSIP

4 terms

Schedule 13G/A regulatory

"Amendment No. 5 to Schedule 13G/A reporting beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficially owned financial

"Amount beneficially owned: 19753790 (beneficially owned)"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 19753790"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

CUSIP technical

"CUSIP No.: 95058W100"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Wendy's Co

(Name of Issuer)

Common Stock

(Title of Class of Securities)

95058W100

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 95058W100

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 19,332,195.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 19,753,790.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,753,790.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.4 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Wendy's Co
(b)	Address of issuer's principal executive offices: ONE DAVE THOMAS BLVD DUBLIN OH 43017
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 95058W100
Item 4.	Ownership
(a)	Amount beneficially owned: 19753790
(b)	Percent of class: 10.4 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 19332195
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 19753790
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of Wendy's Co. No one person's interest in the common stock of Wendy's Co is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	04/24/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

How many Wendy's (WEN) shares does BlackRock report owning?

BlackRock reports beneficial ownership of 19,753,790 shares. The Schedule 13G/A Amendment No.5 lists this number as representing 10.4% of Wendy's common stock and includes voting/dispositive power counts.

What voting authority does BlackRock claim on Wendy's (WEN) shares?

BlackRock reports sole voting power for 19,332,195 shares. The filing lists zero shared voting power and provides corresponding dispositive power figures for clarity.

Does the filing say BlackRock will sell or buy more Wendy's (WEN) shares?

The filing does not state any planned purchases or sales. The amendment reports ownership levels and voting/dispositive powers without describing trading intentions or transaction plans.

When was the Schedule 13G/A Amendment signed for Wendy's (WEN)?

The signature block shows the filing was signed by Spencer Fleming on 04/24/2026. That date appears in the exhibit area as the signing date for the amendment.

What does Item 6 say about beneficiaries for Wendy's (WEN) shares?

Item 6 states various persons may have rights to dividends or sale proceeds and no single person's interest exceeds 5%. This notes pooled/beneficial ownership structures exist among holders.