Restaurant Brands (QSR) EVP Jill Granat details share units and options

Rhea-AI Filing Summary

Restaurant Brands International Inc. executive Jill Granat, EVP, General Counsel & Secretary, reported equity transactions and holdings in company stock. On December 31, 2025, restricted share units vested and converted into 4,859.5502 common shares, increasing her directly held common shares to 460,159.8943. The filing also lists derivative holdings, including fully vested stock options to buy 50,000 common shares at $66.31 and 25,000 common shares at $56.92, plus exchangeable units and multiple blocks of restricted share units and performance share units that vest over future dates based on service and performance conditions.

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

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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).

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^*

Granat Jill

(Last) (First) (Middle)

C/O RESTAURANT BRANDS INTERNATIONAL INC.

5707 BLUE LAGOON DRIVE

(Street)

MIAMI FL 33126

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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 Shares	12/31/2025		M		4,859.5502	A	(1)	460,159.8943	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
Exchangeable Units(2)	(2)							(2)	(2)	Common Shares	52,965		52,965	D
Option (Right to Buy)	$56.92							(3)	05/04/2027	Common Shares	50,000		50,000	D
Option (Right to Buy)	$66.31							(3)	02/20/2030	Common Shares	25,000		25,000	D
Restricted Share Units	(4)	12/31/2025		M			4,859.5502	(5)	(5)	Common Shares	4,859.5502	$0	0	D
Restricted Share Units	(4)							(6)	(6)	Common Shares	3,928.9975		3,928.9975	D
Performance Share Units	(7)							02/22/2026	02/22/2026	Common Shares	36,376.3609		36,376.3609	D
Restricted Share Units	(4)							(8)	(8)	Common Shares	7,762.3369		7,762.3369	D
Performance Share Units	(9)							03/15/2027	03/15/2027	Common Shares	35,212.406		35,212.406	D
Restricted Share Units	(4)							(10)	(10)	Common Shares	7,549.2502		7,549.2502	D
Performance Share Units	(11)							03/15/2028	03/15/2028	Common Shares	43,345.2524		43,345.2524	D

Explanation of Responses:

1. Represents the vesting of the Reporting Person's restricted share units, which will settle shortly thereafter. Any shares that are withheld or sold to satisfy tax obligations will be reported separately in connection with the settlement.

2. Each Restaurant Brands International Limited Partnership exchangeable unit is convertible, at the Reporting Person's election, into common shares of Restaurant Brands International Inc. or a cash amount equal to a prescribed cash amount determined by reference to the weighted average trading price of Restaurant Brands International Inc.'s common share on the New York Stock Exchange for the 20 consecutive trading days ending on the last business day prior to the exchange date, at the sole discretion of the general partner of Restaurant Brands International Partnership (subject to the consent of the Restaurant Brands International Inc. conflicts committee, in certain circumstances). This conversion right has no expiration date.

3. These options are fully vested and exercisable.

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

5. These restricted share units vest in equal annual installments. The remaining vesting occurred on December 31, 2025.

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

7. 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.

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

9. 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.

10. 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.

11. 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 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:

EVP, General Counsel & Secretary

	/s/ Jill Granat	01/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did QSR executive Jill Granat report?

The report shows that on December 31, 2025, certain restricted share units held by Jill Granat vested and were settled into 4,859.5502 common shares of Restaurant Brands International Inc.

How many Restaurant Brands International (QSR) common shares does Jill Granat hold after this transaction?

Following the reported vesting and settlement, Jill Granat beneficially owns 460,159.8943 common shares of Restaurant Brands International Inc., held directly.

What stock options does Jill Granat hold in Restaurant Brands International (QSR)?

The filing lists fully vested options to buy 25,000 common shares at an exercise price of $56.92 expiring on 02/20/2030, and options to buy 50,000 common shares at $66.31 expiring on 05/04/2027.

What are the performance-based share units reported for QSR executive Jill Granat?

The report includes performance-based restricted share units with potential to deliver 36,376.3609 common shares vesting on 02/22/2026, 35,212.406 common shares vesting on 03/15/2027, and 43,345.2524 common shares vesting on 03/15/2028, subject to performance conditions.

What restricted share units are outstanding for Restaurant Brands International (QSR) executive Jill Granat?

In addition to the units that vested on 12/31/2025, the filing lists blocks of restricted share units totaling 3,928.9975, 7,762.3369, and 7,549.2502 common shares, which vest in equal annual installments on specified future dates.

What is Jill Granat’s role at Restaurant Brands International (QSR)?

Jill Granat is identified in the report as an Officer of Restaurant Brands International Inc., serving as EVP, General Counsel & Secretary.