McDonald's (MCD) legal officer reports sale of 2,486 shares at $320

Rhea-AI Filing Summary

McDonald's Corporation reported that its executive vice president and chief legal officer sold 2,486 shares of common stock on December 16, 2025 at a price of $320 per share.

Following this transaction, the officer beneficially owns 6,268.01 shares of McDonald's common stock directly. The officer also holds 1,727.49 phantom stock units indirectly through a non-qualified benefit plan. Each phantom stock unit represents the right to receive the cash value of one share of McDonald's common stock, payable in cash after separation from the company and including shares acquired through dividend reinvestment.

Insider Trade Summary

Net Seller: 2,486 shares ($795,520)

Net Sell 2 txns

Insider Ralls-Morrison Desiree

Role EVP, Chief Legal Officer

Sold 2,486 shs ($796K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,486	$320.00	$796K
holding	Phantom Stock	--	--	--

Holdings After Transaction: Common Stock — 6,268.01 shares (Direct); Phantom Stock — 1,727.49 shares (Indirect, Non-Qualified Benefit Plan)

Footnotes (1)

1. Each share of phantom stock represents a right to receive the cash value of one share of the Company's common stock. Shares of phantom stock are payable in cash following the reporting person's separation from service with the Company. Includes shares acquired through dividend reinvestment.

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Form 4 Insider Transactions: What Each Field Means →

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^*

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)
12/16/2025

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	12/16/2025		S		2,486	D	$320	6,268.01	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)							(2)	(2)	Common Stock	1,727.49(3)		1,727.49(3)	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.

3. Includes shares acquired through dividend reinvestment.

	/s/ Jeffrey J. Pochowicz, Attorney-in-fact	12/18/2025
	** 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.

FAQ

What insider transaction did McDonald's (MCD) report in this filing?

The filing reports that McDonald's executive vice president and chief legal officer sold 2,486 shares of common stock on December 16, 2025 at a price of $320 per share.

Who is the reporting person in the McDonald's (MCD) insider filing and what is their role?

The reporting person is an officer of McDonald's Corporation with the title EVP, Chief Legal Officer, as indicated in the filing.

How many McDonald's (MCD) shares does the officer own after the reported sale?

After the reported sale, the officer beneficially owns 6,268.01 shares of McDonald's common stock directly, according to the filing.

At what price were the McDonald's (MCD) shares sold in this insider transaction?

The 2,486 shares of McDonald's common stock were sold at a price of $320 per share.

What phantom stock holdings related to McDonald's (MCD) are disclosed in the filing?

The filing discloses 1,727.49 phantom stock units held indirectly through a non-qualified benefit plan, each representing the right to receive the cash value of one share of McDonald's common stock.

When are the McDonald's (MCD) phantom stock units payable to the officer?

The phantom stock units are payable in cash following the reporting person's separation from service with McDonald's Corporation.

Do the McDonald's (MCD) phantom stock units include dividend reinvestment?

Yes. The filing notes that the 1,727.49 phantom stock units include shares acquired through dividend reinvestment.