Restaurant Brands (QSR) chief corporate officer reports share sale and PSU vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Restaurant Brands International Chief Corporate Officer Fulton Duncan reported multiple equity transactions in company securities. On February 23, 2026, he executed an open-market sale of 10,307.9375 common shares at $67.51 per share, with a footnote stating the shares were sold to cover withholding tax obligations on vested performance-based restricted share units.
On February 22, 2026, he exercised performance share units, acquiring 19,256.3749 common shares through a derivative conversion, and his directly held common share balance after these transactions was 49,676.9168 shares. He also continues to hold various option, restricted share unit, and performance-based restricted share unit awards that vest over future dates based on time and performance conditions.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 10,307.938 shares ($695,889)
Net Sell
10 txns
Insider
Fulton Duncan
Role
Chief Corporate Officer
Sold
10,307.938 shs ($696K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Shares | 10,307.938 | $67.51 | $696K |
| Exercise | Performance Share Units | 24,070.469 | $0.00 | -- |
| Exercise | Common Shares | 19,256.375 | $0.00 | -- |
| holding | Option (Right to Buy) | -- | -- | -- |
| holding | Option (Right to Buy) | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
Holdings After Transaction:
Common Shares — 49,676.917 shares (Direct);
Performance Share Units — 0 shares (Direct);
Option (Right to Buy) — 60,000 shares (Direct);
Restricted Share Units — 2,456.915 shares (Direct)
Footnotes (1)
- The 2023 PBRSUs vested at 80% of target based on the results of the performance condition. Represents shares sold to cover withholding tax obligations on the settlement of the vesting of the Reporting Person's performance based restricted share units. The reported shares were sold in Canadian dollars at a price of CAD$92.41 per share. The sale price was converted into its U.S. dollar equivalent using the Bank of Canada daily exchange rate on the sale date. The options were issued with an exercise price of CAD $82.81. The reported exercise price represents the U.S. dollar equivalent on the grant date. These options are fully vested and exercisable. The options were issued with an exercise price of CAD $88.03. The reported exercise price represents the U.S. dollar equivalent on the grant date. Each restricted share unit represents a contingent right to receive one common share. 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 had a performance period beginning January 1, 2023 and ending December 31, 2025 and to the extent earned vested on February 22, 2026. The 2023 PBRSUs vested at 80% of target. 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 on 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.
FAQ
What did Restaurant Brands International (QSR) executive Fulton Duncan report in this Form 4?
Fulton Duncan reported a tax-related sale and equity award activity. He sold 10,307.9375 common shares and acquired 19,256.3749 common shares via performance share unit conversion, while also updating his remaining option and share unit holdings and vesting schedules.
What performance-based awards are mentioned for Restaurant Brands International (QSR) in this Form 4?
The filing references 2023, 2024, and 2025 performance-based restricted share units. The 2023 PBRSUs vested at 80% of target after a performance period ending December 31, 2025, while 2024 and 2025 PBRSUs have multi-year performance periods ending in 2027 and 2028, respectively.