[Form 4] McDonald's Corporation Insider Trading Activity

Rhea-AI Filing Summary

Lauren B. Elting, McDonald’s Vice President, Chief Accounting Officer and Corporate Controller, reports equity activity tied to restricted stock awards and related settlements. The Form 4 shows transactions dated 08/07/2025 reflecting the vesting and settlement of 990 restricted stock units (one-third of a 2,970 RSU grant originally awarded on 08/07/2024), and settlement of 24 dividend equivalent rights. The filing also records a disposition of 297.1 shares at $307.91 per share. After these reported transactions the beneficial ownership reported on the form is 716.9 shares of McDonald’s common stock. The entries show the RSUs convert one-for-one into common shares and that the settled RSUs and dividend equivalents were reported with a $0 acquisition price.

Positive

• Grant recorded: 2,970 restricted stock units originally granted (vesting in three equal annual installments).
• Vesting and settlement: 990 RSUs vested and were settled into 990 shares (reported acquisition price $0).
• Dividend equivalents settled: 24 dividend equivalent rights were settled in connection with vested RSUs.
• Transparent reporting: The Form 4 discloses the disposition of 297.1 shares at $307.91, and the form shows resulting beneficial ownership of 716.9 shares.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine executive equity vesting and partial disposition; shows compensation realization and a decrease in reported beneficial holdings.

The filing documents a standard compensation event: a grant of 2,970 RSUs that vests in three equal installments, with 990 RSUs vesting and converting into common shares on 08/07/2025 and 24 dividend equivalent rights settled. The record of a 297.1-share disposition at $307.91 per share reduces the reporter’s beneficial holdings to 716.9 shares as shown. These are typical equity plan mechanics for senior officers and are disclosed pursuant to Section 16 reporting requirements.

Securities Analyst

TL;DR: Transaction details are factual and transactional; no regulatory flags or unusual terms are disclosed.

The document lists acquisition events with a reported acquisition price of $0 for settled RSUs (standard for unit-to-share settlements) and a separate disposition of 297.1 shares at $307.91. The sequence—vesting, settlement of dividend equivalents, and a partial disposition—affects reported beneficial ownership but reflects routine insider activity rather than an extraordinary corporate event based on the form’s contents.

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^*

Elting Lauren B

(Last) (First) (Middle)

MCDONALD'S CORPORATION

110 NORTH CARPENTER STREET

(Street)

CHICAGO IL 60607

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MCDONALDS CORP [ MCD ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP - CAO and Corp Controller

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

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
Common Stock	08/07/2025		M		990(1)	A	$0(2)	990	D
Common Stock	08/07/2025		M		24(3)	A	$0	1,014	D
Common Stock	08/07/2025		F		297.1	D	$307.91	716.9	D

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 Unit	(2)	08/07/2025		M			990(1)	08/07/2025	08/07/2025	Common Stock	990(1)	$0	0	D
Dividend Equivalent Rights	(3)	08/07/2025		M			24(3)	08/07/2025	08/07/2025	Common Stock	24(3)	$0	0	D

Explanation of Responses:

1. On August 7, 2024, Ms. Elting was granted 2,970 restricted stock units ("RSUs"), vesting in three equal installments on the first three anniversaries of the grant date.

2. Each RSU represents a right to acquire one share of McDonald's Corporation common stock.

3. Settlement of dividend equivalent rights in connection with vested RSUs. Each dividend equivalent right is the economic equivalent of one share of McDonald's Corporation common stock.

	/s/ Jeffrey J. Pochowicz, Attorney-in-fact	08/12/2025
	** 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.
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FAQ

What insider transactions did McDonald’s (MCD) report for Lauren B. Elting?

The Form 4 reports 990 RSUs vested and were settled into common shares, 24 dividend equivalent rights settled, and a disposition of 297.1 shares at $307.91 per share.

How many RSUs were originally granted to Lauren Elting and what is the vesting schedule?

The filing states an original grant of 2,970 RSUs that vest in three equal installments on the first three anniversaries of the grant date.

What was Lauren Elting’s reported beneficial ownership after the transactions?

Following the reported transactions, the Form 4 shows beneficial ownership of 716.9 shares of McDonald’s common stock.

Does the Form 4 show the acquisition price for the settled RSUs?

Yes. The settled RSUs and dividend equivalent rights are reported with an acquisition price of $0 per share on this Form 4.

On what date were the reported transactions executed?

The transactions reported on the Form 4 are dated 08/07/2025.