Restaurant Brands (QSR) executive Jill Granat receives new RSU and PSU awards
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Restaurant Brands International Inc. executive Jill Granat reported multiple equity awards in the form of restricted share units (RSUs) and performance share units (PSUs) on April 2, 2026. The RSUs and PSUs each represent a contingent right to receive one common share and generally have no purchase price.
Certain RSUs vest in equal annual installments with remaining vesting dates on December 15 of 2026, 2027, 2028 and 2029 as applicable. The performance-based RSUs have performance periods running from February 2024, February 2025 and February 2026 through February 2027, 2028 and 2029, and, if earned, vest on March 15 of 2027, 2028 and 2029.
After these awards, Granat holds 479,845.4063 common shares directly, 52,965 exchangeable units convertible into common shares with no expiration date, and options over 25,000 common shares at an exercise price of $66.31 expiring on February 20, 2030.
Positive
- None.
Negative
- None.
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 | 34.322 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 67.808 | $0.00 | -- |
| Grant/Award | Performance Share Units | 307.599 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 65.947 | $0.00 | -- |
| Grant/Award | Performance Share Units | 378.644 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 120.73 | $0.00 | -- |
| Grant/Award | Performance Share Units | 364.77 | $0.00 | -- |
| holding | Exchangeable Units | -- | -- | -- |
| holding | Option (Right to Buy) | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units — 3,999.819 shares (Direct);
Performance Share Units — 35,847.121 shares (Direct);
Exchangeable Units — 52,965 shares (Direct);
Option (Right to Buy) — 25,000 shares (Direct);
Common Shares — 479,845.406 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 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. 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 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 example: 34.3219 units
PSU grant example: 307.5991 units
PSU grant example: 378.6438 units
+4 more
7 metrics
RSU grant example
34.3219 units
Restricted share units granted on April 2, 2026
PSU grant example
307.5991 units
Performance share units with performance period Feb 23, 2024–Feb 23, 2027
PSU grant example
378.6438 units
Performance share units with performance period Feb 28, 2025–Feb 28, 2028
PSU grant example
364.7703 units
Performance share units with performance period Feb 25, 2026–Feb 25, 2029
Common shares held
479,845.4063 shares
Direct common share holdings after reported awards
Exchangeable units
52,965.0000 units
Units convertible into Restaurant Brands common shares with no expiration
Stock options
25,000 shares at $66.31
Fully vested options expiring February 20, 2030
Key Terms
Restricted Share Units, Performance Share Units, dividend equivalent rights, exchangeable unit, +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.
exchangeable unit financial
"Each Restaurant Brands International Limited Partnership exchangeable unit is convertible, at the Reporting Person's election, into common shares"
performance period financial
"The 2026 PBRSUs will have a performance period beginning February 25, 2026 and ending February 25, 2029"
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.
FAQ
What equity awards did Jill Granat report on this Restaurant Brands (QSR) Form 4?
Jill Granat reported several grants of restricted share units and performance share units on April 2, 2026. Each unit represents a contingent right to receive one Restaurant Brands common share, with no cash purchase price, forming part of her stock-based compensation package.
What are the performance-based RSUs granted to Jill Granat at Restaurant Brands (QSR)?
Granat received performance-based restricted share units with performance periods from February 2024, 2025 and 2026 through February 2027, 2028 and 2029. To the extent performance goals are met, these awards vest on March 15, 2027, March 15, 2028 and March 15, 2029, respectively.
What are the exchangeable units reported for Jill Granat in this QSR filing?
Granat holds 52,965 exchangeable units of Restaurant Brands International Limited Partnership. Each unit is convertible, at her election, into common shares of Restaurant Brands or a cash amount based on a trading-price formula. This conversion right has no expiration date under the disclosed terms.
Do the options reported for Jill Granat in Restaurant Brands (QSR) already vest?
Yes. The filing notes that the options over 25,000 common shares at a $66.31 exercise price are fully vested and exercisable. These options remain outstanding and exercisable until their stated expiration date of February 20, 2030, subject to standard plan terms.