MCDONALDS CORP Insider Trading Activity

McDonald's Corporation (MCD) reported insider holdings for its EVP, Chief Legal Officer on a Form 4 dated 11/24/2025.

Accepted by SEC EDGAR 11/26/2025 - 02:41 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

McDonald's Corporation (MCD) reported insider holdings for its EVP, Chief Legal Officer on a Form 4 dated 11/24/2025. The executive is identified as an officer and files individually as one reporting person.

The filing shows beneficial ownership of 8,754.01 shares of McDonald's common stock held directly after the reported transactions. It also reports derivative holdings in the form of phantom stock units held indirectly through a non-qualified benefit plan.

The derivative table lists 1,639.88 phantom stock units referencing an equal number of underlying common shares and a total of 1,728.07 derivative securities beneficially owned indirectly. Each share of phantom stock represents a right to receive the cash value of one share of McDonald's common stock, payable in cash after the executive separates from service with the company.

Insider Trade Summary

Discretionary: 1,639.88 shares

Discretionary 1 txn

Insider Ralls-Morrison Desiree

Role EVP, Chief Legal Officer

Type	Security	Shares	Price	Value
Discretionary	Phantom Stock	1,639.88	$304.90	$500K
Holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 1,728.07 contracts (Indirect, Non-Qualified Benefit Plan); Common Stock — 8,754.01 shares (Direct)

Footnotes (2)

1. F1. Each share of phantom stock represents a right to receive the cash value of one share of the Company's common stock.
2. F2. Shares of phantom stock are payable in cash following the reporting person's separation from service with the Company.

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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).

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^*

Ralls-Morrison Desiree

(Last) (First) (Middle)

MCDONALD'S CORPORATION

110 N. 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, Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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								8,754.01	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
Phantom Stock	(1)	11/24/2025	11/25/2025	I		1,639.88		(2)	(2)	Common Stock	1,639.88	$304.9	1,728.07	I	Non-Qualified Benefit Plan

Explanation of Responses:

1. Each share of phantom stock represents a right to receive the cash value of one share of the Company's common stock.

2. Shares of phantom stock are payable in cash following the reporting person's separation from service with the Company.

	Jeffrey J. Pochowicz, Attorney-in-fact	11/26/2025
	** 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.