Dine Brands Global, Inc. — Director's Dealing 2007

Mar 6, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IHOP CORP (IHP)
CIK: 0000049754
Period of Report: 2007-03-05

Reporting Person: CELIO RICHARD C (Vice President- Development)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-05	Common Stock	M	2680	—	Acquired	2680	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-05	Performance Shares	$	M	2000	Disposed		Common Stock (2000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3285	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Options	$		Common Stock ()	29666	Direct
Performance Shares	$		Common Stock ()	2000	Direct
Restricted Stock	$		Common Stock ()	4400	Direct

Footnotes

F1: Shares held in the IHOP Corp. 401(k) plan.

F2: Employee stock options granted pursuant to IHOP Corp. 2001 Stock Incentive Plan.

F3: As previously reported, the shares shown in Table II are the Performance Share Award payable in stock in the event that the Performance Share Plan performance targets were met at the 100% payout level. The actual shares paid out under the plan are reflected in Table I and represent a payout at 134% of the target level.

F4: Performance shares awarded under the IHOP Corp. 2001 Stock Incentive Plan. The award vests on January 1, 2008, for a percentage (0% to 150%) of the performance shares awarded based, in part, upon the Issuer's total shareholder return compared to the total shareholder return of a selected peer group and, in part, on the Issuer's generation of aggregate net cash flow from operations, as compared to pre-determined targets. Performance shares are payable one-half in cash and one-half in shares of the Issuer's Common Stock. The amount set forth in Column 5 represents the one-half portion of the award payable in shares of the Issuer's common stock.

F5: Grant of Restricted Stock pursuant to IHOP Corp. 2001 Stock Incentive Plan. These shares vest in full on March 1, 2009.