Restaurant Brands: Duncan Fulton acquires 7 awards
The Chief Corporate Officer also reported fully vested options for 60,000 and 15,000 common shares at exercise prices of $63.64 and $66.31, respectively.
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Form Type
4
Rhea-AI Filing Summary
Restaurant Brands International Inc. Chief Corporate Officer Duncan Fulton reported seven direct award acquisitions on October 2, 2026. The entries included restricted share unit dividend-equivalent rights of 23.2911, 48.8118, 46.2362 and 65.7142 units, and performance-based restricted share units of 201.5165, 226.2447 and 206.6033 units. For the performance-based awards, the number earned may increase or decrease with performance results; to the extent earned, they vest on March 15, 2027, March 15, 2028 and March 15, 2029, respectively.
Insider Trade Summary
Grant/Award: 818.4178 shares
Grant/Award
10 txns
Insider
Fulton Duncan
Role
Chief Corporate Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Share Units F4, F5, F6 | 23.2911 | $0.00 | $0.00 |
| Grant/Award | Restricted Share Units F4, F5, F7 | 48.8118 | $0.00 | $0.00 |
| Grant/Award | Performance Share Units F8, F9 | 201.5165 | $0.00 | $0.00 |
| Grant/Award | Restricted Share Units F4, F5, F10 | 46.2362 | $0.00 | $0.00 |
| Grant/Award | Performance Share Units F11, F9 | 226.2447 | $0.00 | $0.00 |
| Grant/Award | Restricted Share Units F4, F5, F12 | 65.7142 | $0.00 | $0.00 |
| Grant/Award | Performance Share Units F13, F9 | 206.6033 | $0.00 | $0.00 |
| holding | Option (Right to Buy) F1, F2 | -- | -- | -- |
| holding | Option (Right to Buy) F3, F2 | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units — 19,940.6727 contracts (Direct);
Performance Share Units — 68,728.2069 contracts (Direct);
Option (Right to Buy) — 75,000 contracts (Direct);
Common Shares — 51,216.9168 shares (Direct)
Footnotes (13)
- F1. The options were issued with an exercise price of CAD $82.81. The reported exercise price represents the U.S. dollar equivalent on the grant date.
- F2. These options are fully vested and exercisable.
- F3. The options were issued with an exercise price of CAD $88.03. The reported exercise price represents the U.S. dollar equivalent on the grant date.
- F4. Each restricted share unit represents a contingent right to receive one common share.
- F5. Represents dividend equivalent rights that accrued on the underlying award of restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted share units to which they relate.
- F6. These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026.
- F7. These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027.
- F8. 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.
- F9. Represents dividend equivalent rights that accrued on the underlying award of performance based restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable performance based restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the performance based restricted share units to which they relate.
- F10. These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026, December 15, 2027 and December 15, 2028.
- F11. 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 on 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.
- F12. These restricted share units vest in equal annual installments. The vestings will occur on December 15, 2026, December 15, 2027, December 15, 2028 and December 15, 2029.
- F13. The shares reported represent an award of performance based restricted share units ("2026 PBRSUs") granted to the Reporting Person. The 2026 PBRSUs will have a performance period beginning February 25, 2026 and ending February 25, 2029 and to the extent earned will vest on March 15, 2029. 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.
Key Figures
Direct award acquisitions: 7 awards
Restricted share unit dividend-equivalent rights: 23.2911, 48.8118, 46.2362 and 65.7142 units
Performance-based restricted share units: 201.5165, 226.2447 and 206.6033 units
+2 more
5 metrics
Direct award acquisitions
7 awards
Reported on October 2, 2026.
Restricted share unit dividend-equivalent rights
23.2911, 48.8118, 46.2362 and 65.7142 units
Four reported entries on October 2, 2026.
Performance-based restricted share units
201.5165, 226.2447 and 206.6033 units
Three reported awards on October 2, 2026.
Fully vested and exercisable option holdings and exercise prices
60,000 common shares at $63.64; 15,000 common shares at $66.31
The respective options expire August 3, 2028 and February 21, 2030.
Direct common shares held
51,217 shares
Reported following the transactions on October 2, 2026; rounded to the nearest whole share.
Key Terms
Dividend equivalent rights, performance based restricted share units, performance period, fully vested and exercisable
4 terms
Dividend equivalent rights financial
"Represents dividend equivalent rights that accrued on the underlying award"
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
performance period financial
"will have a performance period beginning February 23, 2024"
The performance period is the specific time span over which an investment’s results, an employee’s targets, or a fund’s returns are measured and judged. It matters to investors because the length and start/end of that window determine which gains or losses count toward performance fees, bonus payouts, or benchmark comparisons—much like timing a race decides who wins, the chosen period can change whether results look strong or weak.
fully vested and exercisable financial
"These options are fully vested and exercisable."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What awards did QSR Chief Corporate Officer Duncan Fulton report on October 2, 2026?
Duncan Fulton reported seven direct award acquisitions: four restricted share unit entries representing dividend-equivalent rights and three performance-based restricted share unit awards. The reported quantities were 23.2911, 48.8118, 46.2362, 65.7142, 201.5165, 226.2447 and 206.6033 units.
What options did QSR Chief Corporate Officer Duncan Fulton report holding?
Fulton reported fully vested and exercisable options for 60,000 common shares at a $63.64 exercise price, expiring August 3, 2028, and 15,000 common shares at a $66.31 exercise price, expiring February 21, 2030.
AI-generated analysis. How Rhea-AI works. Not financial advice.
