RBI (QSR) CFO sells 80K shares after exercising stock options
Rhea-AI Filing Summary
Restaurant Brands International Chief Financial Officer Sami A. Siddiqui exercised employee stock options and sold the resulting shares. On March 16–17, he exercised options for a total of 80,000 common shares at an exercise price of $55.55 per share and then sold 80,000 shares in open-market transactions at weighted average prices of $74.5095 and $75.2825 per share. Following these trades, he holds 12,139.257 common shares directly and 258,855 common shares indirectly through a revocable trust for which he is settlor and trustee. He also retains equity awards including options on 20,000 shares at an exercise price of $66.31 and multiple restricted and performance share unit grants that may convert into common shares over vesting and performance periods extending through 2029–2030.
Positive
- None.
Negative
- None.
Insights
CFO executes routine option exercise-and-sell, retains large equity stake.
CFO Sami A. Siddiqui exercised options for 80,000 Restaurant Brands International common shares at an exercise price of $55.55, then sold the same number of shares at weighted average prices of $74.5095 and $75.2825. This is a classic exercise-and-sell pattern converting options into cash.
After these trades, he still holds 12,139.257 common shares directly and 258,855 common shares indirectly via a revocable trust where he is settlor and trustee. He also maintains significant exposure through options on 20,000 shares at $66.31 and several restricted and performance share unit awards scheduled to vest or be measured through 2029 and 2030.
The filing’s transaction summary shows net open‑market sales of 80,000 shares and 80,000 option shares exercised, indicating a targeted liquidity event rather than a full exit. There is no reference to a Rule 10b5‑1 trading plan in the provided footnotes, so the timing appears discretionary based on the available information.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Option (Right to Buy) | 40,000 | $0.00 | -- |
| Exercise | Common Shares | 40,000 | $55.55 | $2.22M |
| Sale | Common Shares | 40,000 | $75.2825 | $3.01M |
| Exercise | Option (Right to Buy) | 40,000 | $0.00 | -- |
| Exercise | Common Shares | 40,000 | $55.55 | $2.22M |
| Sale | Common Shares | 40,000 | $74.5095 | $2.98M |
| holding | Option (Right to Buy) | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Footnotes (1)
- Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction range from $74.35 to $74.69 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price. Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction range from $75.10 to $75.465 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price. Reflects contribution of 23,627 shares from direct holdings to the revocable trust since the last report. These shares are held by a revocable trust, of which the Reporting Person is the settlor and trustee for the benefit of the Reporting Person. These options are fully vested and exercisable. Each restricted share unit represents a contingent right to receive one common share. These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026. These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027. 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. 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. The shares reported represent an award of performance based restricted share units ("2025-1 PBRSUs") granted to the Reporting Person. The 2025-1 PBRSUs will have a performance period beginning 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. The shares reported represent an award of performance based restricted share units ("2025-2 PBRSUs") granted to the Reporting Person. The 2025-2 PBRSUs will have a performance period beginning May 15, 2025 and ending May 21, 2028 and to the extent earned will vest on May 21, 2030. 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. 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. The shares reported represent an award of performance based restricted shares 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.
