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McDonald's Corp (NYSE: MCD) president exercises options, sells 2,626 shares

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

McDonald's USA President Joseph M. Erlinger exercised options to acquire 2,626 shares of common stock at $157.79 per share on January 12, 2026, then sold 2,626 shares at a weighted-average price of $306.58 per share from trades between $304.66 and $307.30. After these transactions, he holds 5,398.12 shares of McDonald's common stock directly.

Positive

  • None.

Negative

  • None.
Insider Erlinger Joseph M.
Role President, McDonald's USA
Sold 2,626 shs ($805K)
Approx. gross sale proceeds $805K
Approx. exercise cost $414K
Approx. pre-tax spread $391K
Type Security Shares Price Value
Exercise Options (Right to Buy) 2,626 $0.00 $0.00
Exercise Common Stock 2,626 $157.79 $414K
Sale Common Stock 2,626 $306.58 $805K
Holdings After Transaction: Options (Right to Buy) — 28,887 shares (Direct); Common Stock — 5,398.12 shares (Direct)
Footnotes (2)
  1. F1. This transaction was executed in multiple trades ranging from $304.66 to $307.30 per share. The price reported represents the weighted average sales price of this trade. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.
  2. F2. Options were granted on February 19, 2018 and became exercisable in 25% increments on the first, second, third and fourth anniversary of the grant.
Options exercised shares 2,626 shares Options exercised on January 12, 2026 into common stock
Exercise price $157.79 per share Strike price for options converted on January 12, 2026
Shares sold 2,626 shares Common stock sold on January 12, 2026 in an open market or private transaction
Weighted-average sale price $306.58 per share Weighted-average price for 2,626 shares sold across multiple trades
Sale price range $304.66–$307.30 per share Range of prices for trades comprising the reported sale
Post-transaction common stock holding 5,398.12 shares Direct McDonald's common stock position after the transactions
Option expiration date February 19, 2028 Expiration date of the options granted February 19, 2018
Options held after exercise 28,887 options Options (Right to Buy) position reported following the derivative exercise
Options (Right to Buy) financial
"Security title listed as Options (Right to Buy) in the transaction data"
weighted average sales price financial
"The price reported represents the weighted average sales price of this trade"
derivative security financial
"Transaction code description refers to exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
open market or private transaction financial
"Sale in open market or private transaction is noted for the common stock sale"

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FAQ

What did McDonald's (MCD) executive Joseph Erlinger report in this Form 4?

Joseph Erlinger reported exercising options for 2,626 shares of McDonald's common stock at $157.79 per share and selling 2,626 shares at a weighted-average $306.58 per share on January 12, 2026, ending with 5,398.12 shares held directly.

On what date did Joseph Erlinger complete the McDonald's (MCD) option exercise and share sale?

Both the option exercise and the related sale occurred on January 12, 2026. On that date he exercised options for 2,626 shares at $157.79 per share and sold 2,626 shares at a weighted-average price of $306.58 per share.

What prices were involved in Joseph Erlinger's McDonald's (MCD) transactions?

The options were exercised at a strike price of $157.79 per share. The subsequent sale of 2,626 shares used a weighted-average price of $306.58 per share, based on multiple trades ranging between $304.66 and $307.30 per share.

How many McDonald's (MCD) shares does Joseph Erlinger hold after these transactions?

After the reported transactions, Joseph Erlinger holds 5,398.12 shares of McDonald's common stock directly. This figure reflects his post-transaction common stock position as disclosed in the holdings data associated with the Form 4 filing.

What are the key details of the options underlying Joseph Erlinger's McDonald's (MCD) transaction?

The options exercised on January 12, 2026 covered 2,626 shares at a $157.79 strike price and have an expiration date of February 19, 2028. A footnote explains these options were granted on February 19, 2018 and vested in four annual 25% increments.

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*
Erlinger Joseph M.
(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)
President, McDonald's USA
3. Date of Earliest Transaction (Month/Day/Year)
01/12/2026
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 01/12/2026 M 2,626 A $157.79 8,024.12 D
Common Stock 01/12/2026 S 2,626 D $306.58(1) 5,398.12 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) $157.79 01/12/2026 M 2,626 (2) 02/19/2028 Common Stock 2,626 $0 28,887 D
Explanation of Responses:
1. This transaction was executed in multiple trades ranging from $304.66 to $307.30 per share. The price reported represents the weighted average sales price of this trade. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.
2. Options were granted on February 19, 2018 and became exercisable in 25% increments on the first, second, third and fourth anniversary of the grant.
/s/ Jeffrey J. Pochowicz, Attorney-in-fact 01/13/2026
** 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.

Source: View Original Filing on SEC EDGAR