Restaurant Brands (NYSE: QSR) officer sells 30,000 shares near $74.61

Rhea-AI Filing Summary

Restaurant Brands International Inc. officer Jacqueline Friesner reported an open-market sale of 30,000 Common Shares of the company on March 16, 2026 at a weighted average price of $74.6105 per share, with individual sale prices ranging from $74.565 to $74.68 per share.

Following the sale, she directly holds 165,726.545 Common Shares. She also has equity-based awards that can convert into additional common shares, including Exchangeable Units, Restricted Share Units and Performance Share Units with performance and vesting periods extending to March 15, 2029.

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

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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)

	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)
03/16/2026

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	03/16/2026		S		30,000	D	$74.6105(1)	165,726.545	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(2)	(2)							(2)	(2)	Common Shares	9,098		9,098	D
Restricted Share Units	(3)							(4)	(4)	Common Shares	1,928.0253		1,928.0253	D
Restricted Share Units	(3)							(5)	(5)	Common Shares	3,538.414		3,538.414	D
Performance Share Units	(6)							03/15/2027	03/15/2027	Common Shares	17,539.9032		17,539.9032	D
Restricted Share Units	(3)							(7)	(7)	Common Shares	3,432.7142		3,432.7142	D
Performance Share Units	(8)							03/15/2028	03/15/2028	Common Shares	17,498.5459		17,498.5459	D
Restricted Share Units	(3)							(9)	(9)	Common Shares	5,089		5,089	D
Performance Share Units	(10)							03/15/2029	03/15/2029	Common Shares	18,892		18,892	D

Explanation of Responses:

1. Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction range from $74.565 to $74.68 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

2. 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.

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

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. 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.

8. 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 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.

9. 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.

10. 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.

Remarks:

SVP, Controller and Principal Accounting Officer

	/s/ David Wallace, as Attorney-in-Fact for Jacqueline Friesner	03/18/2026
	** 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)

FAQ

What did Restaurant Brands International (QSR) officer Jacqueline Friesner report on this Form 4?

Jacqueline Friesner reported an open-market sale of 30,000 Restaurant Brands International common shares. The transaction occurred on March 16, 2026, and was executed at a weighted average price of $74.6105 per share, as disclosed in the filing’s transaction and footnote details.

How many Restaurant Brands International (QSR) shares did Jacqueline Friesner sell and at what prices?

She sold 30,000 Common Shares of Restaurant Brands International. The weighted average sale price was $74.6105 per share, with individual trades executed in a price range from $74.565 to $74.68 per share, according to the transaction footnote explanation.

How many Restaurant Brands International (QSR) shares does Jacqueline Friesner hold after this sale?

After the reported open-market sale, Jacqueline Friesner directly holds 165,726.545 Common Shares of Restaurant Brands International. This post-transaction balance is explicitly shown in the Form 4 transaction data as the total number of shares beneficially owned following the sale.

What equity-based awards related to Restaurant Brands International (QSR) does Jacqueline Friesner still hold?

She holds Exchangeable Units, Restricted Share Units, and Performance Share Units, each representing rights to receive common shares. Footnotes state that each restricted share unit equals one common share, and performance-based restricted share units may be earned and vest depending on performance conditions over defined periods.

What are the key vesting dates for Jacqueline Friesner’s Restaurant Brands International (QSR) RSUs and PBRSUs?

Some restricted share units vest in equal annual installments with remaining vesting dates on December 15, 2026, 2027, 2028, and 2029. Performance-based restricted share units have performance periods ending in 2027, 2028, and 2029, with vesting on March 15 of those respective years if earned.

How are Restaurant Brands International (QSR) Exchangeable Units described in Jacqueline Friesner’s Form 4?

Each exchangeable unit is convertible, at her election, into Restaurant Brands International common shares or a cash amount based on a weighted average trading price. Conversion occurs at the discretion of the partnership’s general partner, subject to a conflicts committee, and the conversion right has no expiration date.