Restaurant Brands (NYSE: QSR) grants Jill Granat new performance and restricted share units

Rhea-AI Filing Summary

Restaurant Brands International Inc. officer Jill Granat reported equity-compensation activity dated July 7, 2026. The filing shows multiple A-code grants of performance share units (PSUs) and restricted share units (RSUs), such as 377.2198 PSUs and 124.8509 RSUs tied to common shares, awarded at a conversion price of $0.0000. Footnotes explain that RSUs generally vest in equal annual installments with remaining vesting dates through December 15, 2029, while 2024, 2025, and 2026 performance-based RSUs each have multi‑year performance periods ending between February 2027 and February 2029 and vest on March 15 of the following year, subject to performance results. Following these awards, Granat directly holds 479,845.4063 common shares, fully vested options on 25,000 common shares at an exercise price of $66.3100 expiring February 20, 2030, and 52,965 exchangeable units that are convertible into common shares or cash at the partnership’s discretion with no expiration date, plus various PSU and RSU awards that settle in common shares.

Insights

Equity compensation analyst

Routine equity awards increase Jill Granat’s stock-based compensation, with no open-market buying or selling.

The reporting person, officer Jill Granat, received several A-code grants of performance share units (PSUs) and restricted share units (RSUs) on July 7, 2026. These are compensation awards, not open-market purchases or sales, and carry a conversion price of $0.0000 per unit.

Footnotes describe multi-year performance periods for the 2024, 2025, and 2026 PBRSUs, ending on February 23, 2027, February 28, 2028, and February 25, 2029, respectively, with vesting on March 15 after each period, depending on performance. Time-based RSUs vest annually with remaining installments through December 15, 2029, creating a staggered schedule of potential future share issuances.

Granat’s position after these awards includes 479,845.4063 common shares, fully vested options over 25,000 shares at an exercise price of $66.3100 expiring on February 20, 2030, and 52,965 exchangeable units convertible into common shares or cash without an expiration date. The mix of options, exchangeable units, PSUs, and RSUs indicates meaningful long-term equity exposure, but the absence of sales or open-market purchases makes this a neutral informational event rather than a directional trading signal.

Insider Trade Summary

10 transactions reported

Mixed 10 txns

Insider Granat Jill

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units	35.493	$0.00	--
Grant/Award	Restricted Share Units	70.122	$0.00	--
Grant/Award	Performance Share Units	318.097	$0.00	--
Grant/Award	Restricted Share Units	68.197	$0.00	--
Grant/Award	Performance Share Units	391.567	$0.00	--
Grant/Award	Restricted Share Units	124.851	$0.00	--
Grant/Award	Performance Share Units	377.22	$0.00	--
holding	Exchangeable Units	--	--	--
holding	Option (Right to Buy)	--	--	--
holding	Common Shares	--	--	--

Holdings After Transaction: Restricted Share Units — 4,035.312 shares (Direct, null); Performance Share Units — 36,165.218 shares (Direct, null); Exchangeable Units — 52,965 shares (Direct, null); Option (Right to Buy) — 25,000 shares (Direct, null); Common Shares — 479,845.406 shares (Direct, null)

Footnotes (1)

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 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 Limited Partnership (subject to the consent of the Restaurant Brands International Inc. conflicts committee, in certain circumstances). This conversion right has no expiration date. These options are fully vested and exercisable. 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 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.

Key Figures

Common shares held: 479,845.4063 shares Stock options: 25,000 shares at $66.3100 Exchangeable units: 52,965.0000 units +3 more

6 metrics

Common shares held 479,845.4063 shares Direct common share ownership following the reported transactions

Stock options 25,000 shares at $66.3100 Fully vested options to buy common shares, expiring February 20, 2030

Exchangeable units 52,965.0000 units Convertible into common shares or cash, with no expiration date

PSU grant example 377.2198 units Performance share units granted with performance period ending February 23, 2027

RSU grant example 124.8509 units Restricted share units granted, vesting in equal annual installments

Additional PSU grant 391.5668 units Performance share units with performance period ending February 28, 2028

Key Terms

Performance Share Units, Restricted Share Units, dividend equivalent rights, exchangeable unit, +1 more

5 terms

Performance Share Units financial

"The shares reported represent an award of performance based restricted share units ("2024 PBRSUs")"

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.

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.

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.

exchangeable unit financial

"Each Restaurant Brands International Limited Partnership exchangeable unit is convertible"

performance based restricted share units ("2026 PBRSUs") financial

"The shares reported represent an award of performance based restricted share units ("2026 PBRSUs")"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/09/2026 - 07:42 PM Accepted by SEC EDGAR 07/09/2026 - 07:42 PM Learn about SEC filing dates

FAQ

What did Jill Granat report in the latest Form 4 for QSR?

Jill Granat reported new grants of performance share units and restricted share units as equity compensation dated July 7, 2026. These awards are tied to Restaurant Brands International common shares and carry a conversion price of $0.0000 per unit, with multi-year vesting and performance schedules.

Were there any open-market stock purchases or sales by Jill Granat in QSR’s Form 4?

No open-market purchases or sales were reported. The filing shows A-code grants of PSUs and RSUs and several holding-only entries. Transaction data and the summary both indicate zero buy and sell transactions, making this primarily a compensation-related disclosure.

How many Restaurant Brands International common shares does Jill Granat hold after these transactions for QSR?

Jill Granat directly holds 479,845.4063 common shares following the reported awards. This figure is stated as the total shares following the transaction for common shares and reflects her direct ownership position at that time.

What option holdings did Jill Granat report in the QSR Form 4?

Granat holds fully vested options on 25,000 common shares at an exercise price of $66.3100, expiring on February 20, 2030. These options remain outstanding after the reported awards, providing additional potential future equity exposure.

What are the exchangeable units reported by Jill Granat in QSR’s filing?

Granat reported 52,965 exchangeable units, each convertible into Restaurant Brands International common shares or a cash amount based on a trading-price formula. The general partner chooses cash or shares, and this conversion right has no expiration date, according to the footnotes.

How do the performance-based RSUs for QSR vest for Jill Granat?

Granat’s 2024, 2025, and 2026 PBRSUs each have multi-year performance periods ending in February 2027, 2028, and 2029, respectively. To the extent earned, they vest on March 15 following each period, with actual shares increasing or decreasing based on performance results.

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^*

Granat Jill

(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)
	See Remarks

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/07/2026

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								479,845.4063	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(1)	(1)							(1)	(1)	Common Shares	52,965		52,965	D
Option (Right to Buy)	$66.31							(2)	02/20/2030	Common Shares	25,000		25,000	D
Restricted Share Units	(3)	07/07/2026		A		35.4933(4)		(5)	(5)	Common Shares	35.4933	$0	4,035.3122	D
Restricted Share Units	(3)	07/07/2026		A		70.1224(4)		(6)	(6)	Common Shares	70.1224	$0	7,972.3778	D
Performance Share Units	(7)	07/07/2026		A		318.0973(8)		03/15/2027	03/15/2027	Common Shares	318.0973	$0	36,165.218	D
Restricted Share Units	(3)	07/07/2026		A		68.1974(4)		(9)	(9)	Common Shares	68.1974	$0	7,753.5252	D
Performance Share Units	(10)	07/07/2026		A		391.5668(8)		03/15/2028	03/15/2028	Common Shares	391.5668	$0	44,518.1309	D
Restricted Share Units	(3)	07/07/2026		A		124.8509(4)		(11)	(11)	Common Shares	124.8509	$0	14,194.5812	D
Performance Share Units	(12)	07/07/2026		A		377.2198(8)		03/15/2029	03/15/2029	Common Shares	377.2198	$0	42,886.9901	D

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 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 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. These options are fully vested and exercisable.

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

4. 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.

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

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

7. 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.

8. 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.

9. 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.

10. 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.

11. 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.

12. 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:

EVP, General Counsel and Secretary

	/s/ David Wallace, as Attorney-in-Fact for Jill Granat	07/09/2026
	** 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).
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)