McDonald’s (NYSE: MCD) USA president sells 333 common shares

Rhea-AI Filing Summary

McDonald's Corp President, McDonald's USA, Joseph M. Erlinger reported an open-market sale of 333 shares of common stock at $313.47 per share. After this transaction on March 23, 2026, he directly holds 8,399.89 McDonald's common shares.

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

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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).

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 ILLINOIS 60607

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	03/23/2026		S		333	D	$313.47	8,399.89	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

Explanation of Responses:

	/s/ Jeffrey J. Pochowicz, Attorney-in-fact	03/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did McDonald's (MCD) report for Joseph M. Erlinger?

McDonald’s reported that Joseph M. Erlinger, President, McDonald's USA, executed an open-market sale of 333 shares of common stock. The transaction occurred on March 23, 2026, and was reported as a standard non-derivative sale on Form 4.

At what price were Joseph M. Erlinger’s McDonald's (MCD) shares sold?

Joseph M. Erlinger sold 333 McDonald’s common shares at $313.47 per share. This price reflects the transaction value disclosed, indicating an open-market sale rather than a derivative or compensation-related event for this particular filing.

How many McDonald's (MCD) shares does Joseph M. Erlinger hold after the sale?

Following the reported sale, Joseph M. Erlinger directly holds 8,399.89 shares of McDonald’s common stock. This post-transaction balance is disclosed in the filing and shows his remaining direct ownership after the 333-share open-market sale.

What role does Joseph M. Erlinger hold at McDonald's (MCD)?

Joseph M. Erlinger serves as President, McDonald's USA. His position is identified in the insider report, clarifying that the transaction involves a senior operating executive within the company’s U.S. business segment, rather than a director or large beneficial owner.

Was Joseph M. Erlinger’s McDonald's (MCD) transaction a derivative exercise or a direct stock sale?

The transaction was a direct sale of common stock, not a derivative exercise. It is classified as a non-derivative open-market sale, with no options or other derivative securities reported in connection with this Form 4 filing.

Does the McDonald's (MCD) Form 4 show any remaining derivative positions for Joseph M. Erlinger?

The filing’s derivative summary is empty, indicating no derivative transactions or remaining derivative positions reported in this Form 4. Only a single non-derivative open-market sale of common stock is disclosed for the March 23, 2026 transaction.