Restaurant Brands (QSR) Burger King president receives new RSU and PSU grants

Rhea-AI Filing Summary

CURTIS THOMAS BENJAMIN reported acquisition or exercise transactions in this Form 4 filing.

Restaurant Brands International Inc. executive Thomas Benjamin Curtis, President of Burger King US & Canada, reported multiple equity awards on April 2, 2026. He received grants of restricted share units and performance share units that each represent the right to receive one common share at vesting.

The filing shows several RSU awards, including 21.7299, 67.3444, 63.1731 and 66.7224 restricted share units, plus performance-based awards of 553.6783, 550.7587 and 503.1312 performance share units. These performance-based units have performance periods running through 2027, 2028 and 2029 with vesting dates in March of those years.

Dividend equivalent rights accrue on both RSU and performance-based awards as dividends are paid and vest on the same schedule as the underlying units. After these transactions, Curtis directly holds 102216.2029 common shares, along with sizable outstanding RSU and performance share unit balances that vest over several future years.

Insider Trade Summary

8 transactions reported

Mixed 8 txns

Insider CURTIS THOMAS BENJAMIN

Role Pres., BK US & CA

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units	21.73	$0.00	--
Grant/Award	Restricted Share Units	67.344	$0.00	--
Grant/Award	Performance Share Units	553.678	$0.00	--
Grant/Award	Restricted Share Units	63.173	$0.00	--
Grant/Award	Performance Share Units	550.759	$0.00	--
Grant/Award	Restricted Share Units	66.722	$0.00	--
Grant/Award	Performance Share Units	503.131	$0.00	--
holding	Common Shares	--	--	--

Holdings After Transaction: Restricted Share Units — 2,532.364 shares (Direct); Performance Share Units — 64,524.817 shares (Direct); Common Shares — 102,216.203 shares (Direct)

Footnotes (1)

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

Key Figures

RSU grant 1: 21.7299 units RSU grant 2: 67.3444 units Performance share units 2024 PBRSUs: 553.6783 units +3 more

6 metrics

RSU grant 1 21.7299 units Restricted share units granted on April 2, 2026

RSU grant 2 67.3444 units Restricted share units granted on April 2, 2026

Performance share units 2024 PBRSUs 553.6783 units Performance period Feb 23, 2024 to Feb 23, 2027; vest Mar 15, 2027

Performance share units 2025 PBRSUs 550.7587 units Performance period Feb 28, 2025 to Feb 28, 2028; vest Mar 15, 2028

Performance share units 2026 PBRSUs 503.1312 units Performance period Feb 25, 2026 to Feb 25, 2029; vest Mar 15, 2029

Common shares held 102216.2029 shares Direct common share holdings after reported transactions

Key Terms

Restricted Share Units, Performance Share Units, dividend equivalent rights, performance period, +1 more

5 terms

Restricted Share Units financial

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

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

Performance Share Units financial

"The shares reported represent an award of performance based restricted share units ("2024 PBRSUs") granted to the Reporting Person."

Performance share units are a type of company stock award given to employees that depend on the company meeting specific goals or targets. If these goals are achieved, the employee receives shares or the value of shares; if not, they may receive little or no compensation. This aligns employees’ interests with the company's success and encourages performance that benefits investors.

dividend equivalent rights financial

"Represents dividend equivalent rights that accrued on the underlying award of restricted share units."

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

"The 2024 PBRSUs will have a performance period beginning February 23, 2024 and ending February 23, 2027"

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.

vesting financial

"These restricted share units vest in equal annual installments."

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

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^*

CURTIS THOMAS BENJAMIN

(Last) (First) (Middle)

C/O RESTAURANT BRANDS INTERNATIONAL INC.

5707 WATERFORD DISTRICT DRIVE

(Street)

MIAMI FLORIDA 33126

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	Pres., BK US & CA

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/02/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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								102,216.2029	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
Restricted Share Units	(1)	04/02/2026		A		21.7299(2)		(3)	(3)	Common Shares	21.7299	$0	2,532.3637	D
Restricted Share Units	(1)	04/02/2026		A		67.3444(2)		(4)	(4)	Common Shares	67.3444	$0	7,848.2118	D
Performance Share Units	(5)	04/02/2026		A		553.6783(6)		03/15/2027	03/15/2027	Common Shares	553.6783	$0	64,524.8171	D
Restricted Share Units	(1)	04/02/2026		A		63.1731(2)		(7)	(7)	Common Shares	63.1731	$0	7,362.0984	D
Performance Share Units	(8)	04/02/2026		A		550.7587(6)		03/15/2028	03/15/2028	Common Shares	550.7587	$0	64,184.5687	D
Restricted Share Units	(1)	04/02/2026		A		66.7224(2)		(9)	(9)	Common Shares	66.7224	$0	7,775.7224	D
Performance Share Units	(10)	04/02/2026		A		503.1312(6)		03/15/2029	03/15/2029	Common Shares	503.1312	$0	58,634.1312	D

Explanation of Responses:

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

2. 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.

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

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

5. 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.

6. 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.

7. 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.

8. 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.

9. 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.

10. 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.

Remarks:

	/s/ David Wallace, as Attorney-in-Fact for Thomas Benjamin Curtis	04/06/2026
	** 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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* Form 4: SEC 1474 (03-26)

FAQ

What did QSR executive Thomas Benjamin Curtis report in this Form 4 filing?

Thomas Benjamin Curtis reported equity-based compensation grants, including new restricted share units and performance share units. These awards give him rights to receive Restaurant Brands common shares in the future, subject to time-based vesting and performance conditions described in the filing’s footnotes.

How many Restaurant Brands (QSR) common shares does Curtis hold after these transactions?

After the reported transactions, Curtis directly holds 102216.2029 common shares of Restaurant Brands International. This figure reflects his direct share ownership position following the new grants, separate from additional restricted and performance share units that may convert into shares later.

What restricted share unit awards were granted to the QSR executive?

Curtis received several restricted share unit awards, including 21.7299, 67.3444, 63.1731 and 66.7224 units. Each restricted share unit represents a contingent right to receive one common share, with vesting occurring in equal annual installments on specified December 15 dates through 2029.

What performance share units were granted in the Restaurant Brands (QSR) filing?

The filing shows performance-based awards of 553.6783, 550.7587 and 503.1312 performance share units. Each grant has a defined performance period ending in 2027, 2028 or 2029, and earned units will vest on March 15 of the respective year based on performance results.

How do dividend equivalent rights work on Curtis’s RSU and PSU awards at QSR?

The filing explains that dividend equivalent rights accrue when dividends are paid on the underlying common shares. These rights accumulate on both restricted and performance share units and vest, settle and expire under the same terms as the related unit awards.

Are the new QSR awards time-based, performance-based, or both?

Curtis’s reported awards include both time-based RSUs and performance-based units. Time-based RSUs vest in equal annual installments on future December 15 dates, while performance share units vest on March 15 after multi-year performance periods, with actual shares earned depending on performance outcomes.