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Restaurant Brands’ Friesner acquires stock awards

The unit disclosures span annual vesting dates through December 15, 2029, while performance periods extend through February 25, 2029.

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Form Type
4

Rhea-AI Filing Summary

Restaurant Brands International Inc. (QSR) reports that Jacqueline Friesner, SVP, Controller and Principal Accounting Officer, acquired restricted share unit and performance share unit interests on October 2, 2026. The entries include four restricted share unit amounts of 18, 34, 33 and 48 shares and three performance share unit amounts of 166, 166 and 179 shares. Related footnotes describe dividend equivalent rights tied to underlying awards; performance-based units are subject to adjustment based on performance results.

Direct holdings reported as of October 2, 2026 included 165,727 common shares and 9,098 exchangeable units. The exchangeable units may convert into common shares or a cash amount at the general partner’s discretion and have no expiration date.

Insider Friesner Jacqueline
Role See Remarks
Type Security Shares Price Value
Grant/Award Restricted Share Units F2, F3, F4 18.281 $0.00 $0.00
Grant/Award Restricted Share Units F2, F3, F5 33.5502 $0.00 $0.00
Grant/Award Performance Share Units F6, F7 166.3082 $0.00 $0.00
Grant/Award Restricted Share Units F2, F3, F8 32.548 $0.00 $0.00
Grant/Award Performance Share Units F9, F7 165.916 $0.00 $0.00
Grant/Award Restricted Share Units F2, F3, F10 48.2524 $0.00 $0.00
Grant/Award Performance Share Units F11, F7 179.1284 $0.00 $0.00
holding Exchangeable Units F1 -- -- --
holding Common Shares -- -- --
Holdings After Transaction: Restricted Share Units — 14,367.0556 contracts (Direct); Performance Share Units — 55,391.2823 contracts (Direct); Exchangeable Units — 9,098 contracts (Direct); Common Shares — 165,726.545 shares (Direct)
Footnotes (11)
  1. F1. 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 shares 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 Limited Partnership (subject to the consent of the Restaurant Brands International Inc. conflicts committee, in certain circumstances). This conversion right has no expiration date.
  2. F2. Each restricted share unit represents a contingent right to receive one common share.
  3. F3. 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.
  4. F4. These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026.
  5. F5. These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027.
  6. F6. 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.
  7. F7. 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.
  8. F8. 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.
  9. F9. 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 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.
  10. F10. 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.
  11. F11. 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.
Restricted share unit amount 18 shares Entry reported October 2, 2026; remaining vesting December 15, 2026
Restricted share unit amount 34 shares Entry reported October 2, 2026; remaining vestings December 15, 2026 and December 15, 2027
Restricted share unit amount 33 shares Entry reported October 2, 2026; remaining vestings through December 15, 2028
Restricted share unit amount 48 shares Entry reported October 2, 2026; vestings through December 15, 2029
Performance share unit amount 166 shares Entry reported October 2, 2026; performance period ends February 23, 2027
Performance share unit amount 166 shares Entry reported October 2, 2026; performance period ends February 28, 2028
Performance share unit amount 179 shares Entry reported October 2, 2026; performance period ends February 25, 2029
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.
restricted share unit financial
"Each restricted share unit represents a contingent right to receive one common share"
A restricted share unit (RSU) is a promise by a company to give an employee a set number of company shares at a future date, typically after meeting time or performance conditions. For investors, RSUs matter because when they convert into actual shares they increase the number of shares outstanding (like unlocking more tickets in a game), which can dilute existing holders, and they align employee incentives with company performance, influencing behavior and long-term value.
performance based restricted share units financial
"The number of common shares that will be earned at the end of the performance period"
exchangeable unit financial
"Each Restaurant Brands International Limited Partnership exchangeable unit is convertible"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What QSR unit amounts did Jacqueline Friesner report?
Jacqueline Friesner reported four restricted share unit entries of 18, 34, 33 and 48 shares and three performance share unit entries of 166, 166 and 179 shares on October 2, 2026.

When do Jacqueline Friesner’s QSR restricted share units vest?
The restricted share units vest in equal annual installments. Remaining vestings are scheduled on December 15, 2026; December 15, 2026 and December 15, 2027; December 15, 2026, December 15, 2027 and December 15, 2028; or December 15, 2026 through December 15, 2029, depending on the award.

What performance conditions apply to QSR’s performance share units?
The 2024, 2025 and 2026 performance-based restricted share units have performance periods ending February 23, 2027, February 28, 2028 and February 25, 2029, respectively. The number of shares earned may increase or decrease based on the results of the applicable performance condition.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →
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SEC Form 4
FORM 4UNITED 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*
Friesner Jacqueline
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
See Remarks
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
10/02/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Shares165,726.545D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Exchangeable Units(1)(1) (1) (1)Common Shares9,0989,098D
Restricted Share Units(2)10/02/2026A18.281(3) (4) (4)Common Shares18.281$01,980.2504D
Restricted Share Units(2)10/02/2026A33.5502(3) (5) (5)Common Shares33.5502$03,634.2603D
Performance Share Units(6)10/02/2026A166.3082(7)03/15/202703/15/2027Common Shares166.3082$018,015.0128D
Restricted Share Units(2)10/02/2026A32.548(3) (8) (8)Common Shares32.548$03,525.6974D
Performance Share Units(9)10/02/2026A165.916(7)03/15/202803/15/2028Common Shares165.916$017,972.5352D
Restricted Share Units(2)10/02/2026A48.2524(3) (10) (10)Common Shares48.2524$05,226.8475D
Performance Share Units(11)10/02/2026A179.1284(7)03/15/202903/15/2029Common Shares179.1284$019,403.7343D
Explanation of Responses:
1. 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 shares 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 Limited Partnership (subject to the consent of the Restaurant Brands International Inc. conflicts committee, in certain circumstances). This conversion right has no expiration date.
2. Each restricted share unit represents a contingent right to receive one common share.
3. 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.
4. These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026.
5. These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027.
6. 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.
7. 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.
8. 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.
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 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.
10. 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.
11. 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.
Remarks:
SVP, Controller and Principal Accounting Officer
/s/ David Wallace, as Attorney-in-Fact for Jacqueline Friesner10/06/2026
** Signature of Reporting PersonDate
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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

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