McDonald's CFO exercises 17,134 options, sells shares at $310

McDonald's Corporation executive vice president and chief financial officer reported an option exercise and share sale in a Form 4.

Accepted by SEC EDGAR 11/21/2025 - 07:33 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

McDonald's Corporation executive vice president and chief financial officer reported an option exercise and share sale in a Form 4. On 11/21/2025, the officer exercised options to buy 17,134 shares of common stock at an exercise price of $116.73 per share, acquiring the same number of shares. That same day, the officer sold 17,134 shares of common stock at a price of $310 per share.

Following these transactions, the officer directly beneficially owned 26,353.15 shares of McDonald’s common stock. The options exercised were originally granted on February 11, 2016 and became exercisable in 25% increments on each of the first four anniversaries of the grant date. The report notes that beneficial ownership totals include shares acquired through dividend reinvestment.

Insider Trade Summary

Exercise and Sale: 17,134 shares ($3.31M approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Borden Ian Frederick

Role EVP - CFO

Sold 17,134 shs ($5.31M)

Approx. gross sale proceeds $5.31M

Approx. exercise cost $2.00M

Approx. pre-tax spread $3.31M

Share of Position Sold 39.4%

Type	Security	Shares	Price	Value
Exercise	Options (Right to Buy)	17,134	$0.00	$0.00
Exercise	Common Stock	17,134	$116.73	$2.00M
Sale	Common Stock	17,134	$310.00	$5.31M

Holdings After Transaction: Options (Right to Buy) — 0 contracts (Direct); Common Stock — 26,353.15 shares (Direct)

Holdings Before and After: Options (Right to Buy), 17,134 to 0 contracts (Direct); Common Stock, 26,353.15 to 26,353.15 shares (Direct)

Other Insiders: 2 other insiders reported open-market sales of this stock in the 30 days up to this filing.

Footnotes (2)

1. F1. Includes shares acquired through dividend reinvestment.
2. F2. Options were granted on February 11, 2016 and became exercisable in 25% increments on the first, second, third and fourth anniversary of the grant.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did McDonald's (MCD) report on this Form 4?

The Form 4 reports that McDonald’s executive vice president and chief financial officer exercised stock options for 17,134 shares on 11/21/2025 and sold 17,134 shares of common stock on the same date.

At what prices did the McDonald's (MCD) CFO exercise and sell shares?

The CFO exercised options to acquire shares at an exercise price of $116.73 per share and sold 17,134 shares of common stock at a price of $310 per share.

How many McDonald's (MCD) shares does the reporting person own after these transactions?

After the reported transactions, the executive vice president and chief financial officer directly beneficially owned 26,353.15 shares of McDonald’s common stock.

What role does the reporting person hold at McDonald's (MCD)?

The reporting person is an officer of McDonald’s Corporation, serving as EVP - CFO (executive vice president and chief financial officer).

When were the McDonald's (MCD) stock options originally granted and how did they vest?

The options exercised on 11/21/2025 were granted on February 11, 2016 and became exercisable in 25% increments on the first, second, third, and fourth anniversaries of the grant date.

Does the reported McDonald's (MCD) share ownership include dividend reinvestment?

Yes. The explanation notes that the reported share totals include shares acquired through dividend reinvestment.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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
Estimated average burden
hours per response:			0.5

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

X

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^*

Borden Ian Frederick

(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)
	EVP - CFO

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

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	11/21/2025		M		17,134	A	$116.73	43,487.15(1)	D
Common Stock	11/21/2025		S		17,134	D	$310	26,353.15(1)	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
Options (Right to Buy)	$116.73	11/21/2025		M			17,134	(2)	02/11/2026	Common Stock	17,134	$0	0	D

Explanation of Responses:

1. Includes shares acquired through dividend reinvestment.

2. Options were granted on February 11, 2016 and became exercisable in 25% increments on the first, second, third and fourth anniversary of the grant.

	/s/ Jeffrey J. Pochowicz, Attorney-in-fact	11/21/2025
	** 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.