Restaurant Brands (NYSE: QSR) CEO receives new share unit grants
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Kobza Joshua reported acquisition or exercise transactions in this Form 4 filing.
Restaurant Brands International Inc. Chief Executive Officer Joshua Kobza reported equity compensation grants rather than open-market trades. On April 2, 2026 he received multiple awards of restricted share units and performance share units, including 61.9937 and 142.1828 restricted units and performance-based awards such as 2,870.5223 and 1,446.4967 units, each convertible into common shares on a one-for-one basis. These RSUs and performance share units vest in annual installments or based on multi‑year performance periods that run through 2029. Following these awards, he directly holds 960,769.242 common shares and 5,413 exchangeable units that are convertible into an equal number of common shares, along with various unvested RSU and performance share unit positions.
Positive
- None.
Negative
- None.
Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
Kobza Joshua
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Share Units | 61.994 | $0.00 | -- |
| Grant/Award | Performance Share Units | 2,870.522 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 142.183 | $0.00 | -- |
| Grant/Award | Performance Share Units | 1,107.366 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 131.454 | $0.00 | -- |
| Grant/Award | Performance Share Units | 1,376.892 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 264.509 | $0.00 | -- |
| Grant/Award | Performance Share Units | 1,446.497 | $0.00 | -- |
| holding | Exchangeable Units | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units — 7,224.652 shares (Direct);
Performance Share Units — 334,526.252 shares (Direct);
Exchangeable Units — 5,413 shares (Direct);
Common Shares — 960,769.242 shares (Direct)
Footnotes (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. 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. 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 February 22, 2023 and ending May 21, 2028 and to the extent earned will vest on May 21, 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. 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 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 PBRSUs") granted to the Reporting Person. The 2025 PBRSUs 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
Restricted Share Units grant: 61.9937 units
Performance Share Units grant: 2870.5223 units
Performance Share Units grant: 1446.4967 units
+3 more
6 metrics
Restricted Share Units grant
61.9937 units
RSU award on April 2, 2026, each for one common share
Performance Share Units grant
2870.5223 units
2023 PBRSUs, performance period Feb 22, 2023–May 21, 2028
Performance Share Units grant
1446.4967 units
2026 PBRSUs, performance period Feb 25, 2026–Feb 25, 2029
Common shares held
960,769.242 shares
Direct common share holdings after April 2, 2026 awards
Exchangeable units underlying shares
5,413.0000 units
Convertible into 5,413 common shares or cash, no expiration
Derivative acquire transactions
8 transactions
All derivative entries coded A as grant/award acquisitions
Key Terms
Restricted Share Units, Performance Share Units, dividend equivalent rights, performance period, +1 more
5 terms
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.
exchangeable unit financial
"Each Restaurant Brands International Limited Partnership exchangeable unit is convertible, at the Reporting Person's election, into common shares"
FAQ
What insider transactions did QSR CEO Joshua Kobza report on this Form 4?
Joshua Kobza reported grants of restricted share units and performance share units on April 2, 2026. These are equity compensation awards, not open-market stock purchases or sales, and each unit represents a contingent right to receive one common share if vesting conditions are met.
How many equity units were granted to QSR CEO Joshua Kobza in this filing?
The filing shows several grants, including 61.9937, 142.1828 and 264.5093 restricted share units, plus performance-based awards such as 2,870.5223, 1,107.3659 and 1,446.4967 units. Each unit corresponds to one common share, subject to vesting and performance conditions.
What are the key vesting and performance periods for Joshua Kobza’s QSR awards?
Restricted share units vest in equal annual installments, with remaining vesting dates extending through December 15, 2029. Performance share units have performance periods running from 2023, 2024, 2025 and 2026 start dates, ending between 2027 and 2029, and vest only to the extent performance goals are achieved.
What are dividend equivalent rights mentioned in the QSR Form 4 footnotes?
Dividend equivalent rights accrue on both restricted and performance-based share units when QSR pays dividends on its common shares. These rights mirror dividends on the underlying units and vest, settle, and expire under the same terms as the associated share unit awards.
What are QSR exchangeable units held by Joshua Kobza and how can they be converted?
Each Restaurant Brands International Limited Partnership exchangeable unit can be converted, at the holder’s election, into one QSR common share or a cash amount. The cash amount is based on the 20-day average NYSE trading price, with the form noting the conversion right has no expiration date.