Bonus swap grants QSR (NYSE: QSR) exec stock and performance units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CURTIS THOMAS BENJAMIN reported acquisition or exercise transactions in this Form 4 filing.
Restaurant Brands International executive Thomas Benjamin Curtis, President of Burger King US & Canada, reported multiple equity awards on February 25, 2026. He used 50% of his 2025 net bonus to purchase 2,055 common shares at $68.81 per share under the 2025 Bonus Swap Program, and received a matching grant of 2026 restricted share units based on his gross bonus and a position-based multiplier. He was also granted performance-based restricted share units for 2026 that vest in 2029, with the final number of common shares earned depending on performance over a multi‑year period.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
CURTIS THOMAS BENJAMIN
Role
Pres., BK US & CA
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Share Units | 7,709 | $0.00 | -- |
| Grant/Award | Performance Share Units | 58,131 | $0.00 | -- |
| Grant/Award | Common Shares | 2,055 | $68.81 | $141K |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units — 7,709 shares (Direct);
Performance Share Units — 58,131 shares (Direct);
Common Shares — 102,216.203 shares (Direct)
Footnotes (1)
- The shares reported represent common shares purchased from the Issuer by the Reporting Person upon exercise of his investment rights pursuant to the Issuer's 2025 Bonus Swap Program under its 2023 Omnibus Incentive Plan ("2023 Plan"). The Reporting Person elected to use 50% of his 2025 net bonus to purchase common shares at a purchase price of $68.81 per share ("Investment Shares"). Pursuant to the Issuer's 2023 Plan, the purchase price of the Investment Shares is calculated based on the last sales price of common shares of the Issuer reported on the New York Stock Exchange on the trading day immediately preceding the grant date, in this case February 24, 2026. 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. 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 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. The Issuer granted the 2026 restricted share units ("2026 RSUs") to the Reporting Person pursuant to the Issuer's 2025 Bonus Swap Program under its 2023 Plan. The Reporting Person elected to use 50% of his 2025 net bonus to purchase Investment Shares and received a matching grant of 2026 RSUs in an amount equal to 50% of his gross bonus, multiplied by a multiplier based on the Reporting Person's position level with the Issuer ("RSU Multiplier"), and divided by the purchase price of $68.81 per share. The RSU Multiplier was 2.25 for executive vice presidents and above. If the Reporting Person sells any of the Investment Shares, he will forfeit all of the 2026 RSUs that have not yet vested. 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.
FAQ
What insider equity transactions did QSR executive Thomas Benjamin Curtis report?
Thomas Benjamin Curtis reported equity awards, not open-market trades. He acquired common shares through the 2025 Bonus Swap Program and received matching restricted share units and performance-based restricted share units, all tied to his 2025 bonus and multi-year performance and vesting conditions.
How does Restaurant Brands International’s 2025 Bonus Swap Program work for QSR executives?
The 2025 Bonus Swap Program lets executives swap bonus for shares and RSUs. Curtis used 50% of his 2025 net bonus to buy common shares at $68.81 and received 2026 restricted share units calculated from his gross bonus and a role-based RSU multiplier under the 2023 Omnibus Incentive Plan.
Does Thomas Curtis hold Restaurant Brands International equity directly or indirectly?
The reported awards are held directly by Thomas Curtis. The transactions list direct ownership, with no footnotes indicating that voting or investment power resides with a separate entity such as a trust or LLC, so the holdings are attributed directly to the reporting person.