Insider sale: McDonald's (MCD) US president trims stake

Rhea-AI Filing Summary

McDonald's Corporation insider Joseph M. Erlinger, President of McDonald's USA, reported an open-market sale of company stock. On February 23, 2026, he sold 333 shares of McDonald's common stock at an average price of $330.43 per share.

After this transaction, Erlinger directly owned 8,732.89 shares of McDonald's common stock. This filing records a relatively small insider sale by a senior executive, showing a modest reduction of his direct holdings.

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
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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 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)
02/23/2026

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	02/23/2026		S		333	D	$330.43	8,732.89	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	02/24/2026
	** 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).
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FAQ

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

McDonald’s reported that Joseph M. Erlinger, President of McDonald’s USA, sold 333 shares of common stock in an open-market transaction. The sale occurred on February 23, 2026 and was disclosed in a Form 4 insider trading report.

At what price did Joseph M. Erlinger sell his McDonald's (MCD) shares?

Joseph M. Erlinger sold 333 McDonald’s common shares at an average price of $330.43 per share. This price reflects the reported transaction value for the open-market sale on February 23, 2026 as shown in the Form 4 filing.

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

After the reported sale, Joseph M. Erlinger directly owns 8,732.89 shares of McDonald’s common stock. This figure represents his remaining direct holdings immediately following the 333-share open-market sale disclosed in the Form 4.

Was the McDonald's (MCD) insider transaction a buy or a sell?

The McDonald’s insider transaction reported for Joseph M. Erlinger was a sale. The Form 4 lists transaction code “S,” indicating an open-market or private sale of 333 common shares at an average price of $330.43 per share.

What is Joseph M. Erlinger’s role at McDonald's (MCD) in this insider filing?

In this insider filing, Joseph M. Erlinger is identified as an officer of McDonald’s, serving as President, McDonald’s USA. The reported Form 4 transaction reflects changes in his directly held McDonald’s common stock holdings in that executive capacity.