<SEC-DOCUMENT>0000950170-25-076504.txt : 20250522
<SEC-HEADER>0000950170-25-076504.hdr.sgml : 20250522
<ACCEPTANCE-DATETIME>20250522180152
ACCESSION NUMBER:		0000950170-25-076504
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250521
FILED AS OF DATE:		20250522
DATE AS OF CHANGE:		20250522

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Peltz Matthew H.
		CENTRAL INDEX KEY:			0001661127
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-02207
		FILM NUMBER:		25978537

	MAIL ADDRESS:	
		STREET 1:		280 PARK AVENUE
		STREET 2:		41ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

ISSUER:		

	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

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-05-21</periodOfReport>

    <issuer>
        <issuerCik>0000030697</issuerCik>
        <issuerName>Wendy's Co</issuerName>
        <issuerTradingSymbol>WEN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001661127</rptOwnerCik>
            <rptOwnerName>Peltz Matthew H.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>223 SUNSET AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PALM BEACH</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33480</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-05-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>13984</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>129798</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14943466</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Trian Partners</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>132397</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Peltz 2009FamilyTrust</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Trian Fund Management, L.P. (&quot;Trian Management&quot;) serves as the management company for Trian Partners, L.P., Trian Partners Master Fund, L.P., Trian Partners Parallel Fund I, L.P., Trian Partners Strategic Fund-G II L.P., and Trian Partners Strategic Fund-K, L.P. (collectively, the &quot;Trian Funds&quot;), and as such determines the investment and voting decisions of the Trian Funds with respect to the shares of the Issuer held by them. Mr. Peltz is a Partner of Trian Management, and a limited partner or member of certain affiliates of the Trian Funds, and as such has an indirect interest in the shares of the Issuer held by the Trian Funds.</footnote>
        <footnote id="F2">(FN 1, contd.) Mr. Peltz is also a limited partner in Trian Partners GP, L.P. (&quot;Trian GP&quot;), and as such has an indirect interest in the shares of the Issuer held by Trian GP.  The reporting persons disclaim beneficial ownership of the shares held by Trian Management and Trian GP (collectively, &quot;Trian Partners&quot;) except to the extent of their pecuniary interest therein and this report shall not be deemed an admission that the reporting persons are the beneficial owner of such securities for purposes of Section 16 or for any other purpose.</footnote>
        <footnote id="F3">Mr. Peltz disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.</footnote>
        <footnote id="F4">All such shares are owned by the Peltz 2009 Family Trust. Mr. Peltz is a trustee of the trust.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Daniel R. Marx, Attorney-In-Fact for Matthew H. Peltz</signatureName>
        <signatureDate>2025-05-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
