[Form 3] Restaurant Brands International Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Restaurant Brands International Inc. (QSR) reported the equity holdings of its officer serving as President, Popeyes-US & Canada, in a Form 3 beneficial ownership statement. The reporting person directly owns 35,108.182 common shares. In addition, they hold stock options to buy 10,000 common shares at $64.75 expiring on February 21, 2029, and 12,000 common shares at $66.31 expiring on February 20, 2030.

The filing also shows multiple grants of restricted share units (RSUs) and performance share units (PSUs), each representing a contingent right to receive one common share, with vesting dates running through late 2028. Certain awards are performance-based (2023, 2024, and 2025 PBRSUs), where the ultimate number of shares earned can increase or decrease based on specified performance conditions over multi‑year periods.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

PERDUE PETER

(Last) (First) (Middle)

C/O RESTAURANT BRANDS INTERNATIONAL INC

5707 BLUE LAGOON DRIVE

(Street)

MIAMI FL 33126

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/03/2025

3. Issuer Name and Ticker or Trading Symbol
Restaurant Brands International Inc. [ QSR ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, Popeyes-US & Canada

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	35,108.182	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option (Right to Buy)	(1)	02/21/2029	Common Shares	10,000	$64.75	D
Option (Right to Buy)	(1)	02/20/2030	Common Shares	12,000	$66.31	D
Restricted Share Units	(2)	(2)	Common Shares	877.9716	(3)	D
Restricted Share Units	(4)	(4)	Common Shares	988	(3)	D
Performance Share Units	02/22/2026	02/22/2026	Common Shares	12,125.4536	(5)	D
Restricted Share Units	(6)	(6)	Common Shares	3,219.1773	(3)	D
Performance Share Units	03/15/2027	03/15/2027	Common Shares	11,972.1119	(7)	D
Restricted Share Units	(8)	(8)	Common Shares	2,954.1438	(3)	D
Performance Share Units	03/15/2028	03/15/2028	Common Shares	13,396.9135	(9)	D

Explanation of Responses:

1. These options are fully vested and exercisable.

2. These restricted share units vest on December 31, 2025.

3. Each restricted share unit represents a contingent right to receive one common share.

4. These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2025 and December 15, 2026.

5. The shares reported represent an award of performance based restricted share units ("2023 PBRSUs") granted to the Reporting Person. The 2023 PBRSUs will have a performance period beginning January 1, 2023 and ending December 31, 2025 and to the extent earned will vest on February 22, 2026. The number of common shares that will be earned at the end of the performance period is subject to increase or decrease based on the results of the performance condition.

6. These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2025, December 15, 2026 and December 15, 2027.

7. The shares reported represent an award of performance based restricted share units ("2024 PBRSUs") granted to the Reporting Person. The 2024 PBRSUs will have a performance period beginning February 23, 2024 and ending February 23, 2027 and to the extent earned will vest on March 15, 2027. The number of common shares that will be earned at the end of the performance period is subject to increase or decrease based on the results of the performance condition.

8. These restricted share units vest in equal annual installments. The vestings will occur on December 15, 2025, December 15, 2026, December 15, 2027 and December 15, 2028.

9. The shares reported represent an award of performance based restricted share units ("2025 PBRSUs") granted to the Reporting Person. The 2025 PBRSUs will have a performance period beginning on February 28, 2025 and ending February 28, 2028 and to the extent earned will vest on March 15, 2028. The number of common shares that will be earned at the end of the performance period is subject to increase or decrease based on the results of the performance condition.

Remarks:

	/s/ David Wallace, Attorney-in-Fact	11/17/2025
	** 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 5 (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.
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FAQ

What does Restaurant Brands International (QSR) disclose in this Form 3?

This Form 3 discloses the initial beneficial ownership of Restaurant Brands International Inc. common shares and equity awards held by its officer who serves as President, Popeyes-US & Canada. It lists directly owned common shares, stock options, restricted share units, and performance share units, along with key vesting and expiration terms.

How many QSR common shares does the reporting person directly own?

The reporting person directly owns 35,108.182 common shares of Restaurant Brands International Inc., reported as non-derivative securities beneficially owned in Table I.

What stock options are reported by the QSR executive?

The executive holds two option awards: an option to buy 10,000 common shares at $64.75 per share expiring on February 21, 2029, and an option to buy 12,000 common shares at $66.31 per share expiring on February 20, 2030. The filing notes that these options are fully vested and exercisable.

What restricted share units (RSUs) are included in the QSR Form 3?

The filing lists several RSU awards, including 877.9716, 988, 3,219.1773, and 2,954.1438 RSUs, each representing a contingent right to receive one common share. These RSUs vest on specified schedules, with remaining vesting dates that include December 15, 2025, December 15, 2026, December 15, 2027, and December 15, 2028.

What are the performance-based RSUs (PBRSUs) reported for QSR?

The Form 3 reports three performance-based RSU awards: 12,125.4536 2023 PBRSUs with a performance period from January 1, 2023 to December 31, 2025 and vesting on February 22, 2026; 11,972.1119 2024 PBRSUs with a performance period from February 23, 2024 to February 23, 2027 and vesting on March 15, 2027; and 13,396.9135 2025 PBRSUs with a performance period from February 28, 2025 to February 28, 2028 and vesting on March 15, 2028. The number of shares earned will vary based on performance conditions.

What is the reporting person’s role at Restaurant Brands International (QSR)?

The reporting person is an officer of Restaurant Brands International Inc., serving as President, Popeyes-US & Canada, and is filing individually as indicated by the Form 3.