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Restaurant Brands (QSR) officer details RSU vesting and option holdings

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Restaurant Brands International executive Peter Perdue, President of Popeyes US & Canada, reported changes in his equity holdings in a Form 4 filing. On December 31, 2025, 877.9716 restricted share units vested and converted into common shares, increasing his directly owned common shares to 37,384.8674. Any shares withheld or sold to cover taxes will be reported separately.

The filing also lists fully vested stock options to buy 10,000 common shares at $64.75 and 12,000 shares at $66.31, as well as multiple restricted share unit and performance share unit awards. These include time-based RSUs that vest in equal annual installments through dates such as December 15, 2028, and performance-based RSUs with performance periods running through the end of 2025, 2027, and 2028, with final vesting contingent on meeting performance conditions.

Positive

  • None.

Negative

  • None.
Insider PERDUE PETER
Role President, Popeyes-US & Canada
Type Security Shares Price Value
Exercise Restricted Share Units 877.9716 $0.00 $0.00
Exercise Common Shares 877.9716 $0.00 $0.00
holding Option (Right to Buy) -- -- --
holding Option (Right to Buy) -- -- --
holding Restricted Share Units -- -- --
holding Performance Share Units -- -- --
holding Restricted Share Units -- -- --
holding Performance Share Units -- -- --
holding Restricted Share Units -- -- --
holding Performance Share Units -- -- --
Holdings After Transaction: Restricted Share Units — 4,855.1153 shares (Direct); Common Shares — 37,384.8674 shares (Direct); Option (Right to Buy) — 22,000 shares (Direct); Performance Share Units — 37,494.479 shares (Direct)
Footnotes (10)
  1. F1. Represents the vesting of the Reporting Person's restricted share units, which will settle shortly thereafter. Any shares that are withheld or sold to satisfy tax obligations will be reported separately in connection with the settlement.
  2. F2. These options are fully vested and exercisable.
  3. F3. Each restricted share unit represents a contingent right to receive one common share.
  4. F4. These restricted share units vest in equal annual installments. The remaining vesting occurred on December 31, 2025.
  5. F5. These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026.
  6. F6. The shares reported represent an award of performance based restricted share units ("2023 PBRSUs") granted to the Reporting Person. The 2023 PBRSUs will have a performance period beginning January 1, 2023 and ending December 31, 2025 and to the extent earned will vest on February 22, 2026. 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. F7. These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027.
  8. F8. 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.
  9. F9. 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. F10. 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 on 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.

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FAQ

What insider transaction did Restaurant Brands International (QSR) report for Peter Perdue?

The filing reports the vesting of 877.9716 restricted share units into common shares on December 31, 2025, which increased Peter Perdue’s directly owned common shares to 37,384.8674. Any shares withheld or sold to satisfy tax obligations will be disclosed in a separate report.

What is Peter Perdue’s role at Restaurant Brands International (QSR)?

Peter Perdue is identified as an officer of Restaurant Brands International, serving as President, Popeyes-US & Canada.

What stock options does Peter Perdue hold according to this Form 4 for QSR?

The filing shows fully vested options to buy 10,000 common shares at $64.75 per share expiring on February 21, 2029, and 12,000 common shares at $66.31 per share expiring on February 20, 2030. These options are reported as fully vested and exercisable.

What restricted share units (RSUs) are outstanding for Peter Perdue at Restaurant Brands International?

The report lists several RSU awards, each representing a contingent right to receive one common share. Certain RSUs vest in equal annual installments, with remaining vesting dates including December 15, 2026, December 15, 2027, and December 15, 2028. One RSU grant had its remaining vesting occur on December 31, 2025.

What are the performance-based RSUs (PBRSUs) reported for QSR executive Peter Perdue?

The filing describes 2023 PBRSUs with a performance period from January 1, 2023 to December 31, 2025 that, if earned, will vest on February 22, 2026. It also includes 2024 PBRSUs with a performance period from February 23, 2024 to February 23, 2027, vesting on March 15, 2027, and 2025 PBRSUs with a performance period from February 28, 2025 to February 28, 2028, vesting on March 15, 2028, in each case subject to performance conditions.

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*
PERDUE PETER
(Last) (First) (Middle)
C/O RESTAURANT BRANDS INTERNATIONAL INC
5707 BLUE LAGOON DRIVE
(Street)
MIAMI FL 33126
(City) (State) (Zip)
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)
President, Popeyes-US & Canada
3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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 12/31/2025 M 877.9716 A (1) 37,384.8674 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
Option (Right to Buy) $64.75 (2) 02/21/2029 Common Shares 10,000 10,000 D
Option (Right to Buy) $66.31 (2) 02/20/2030 Common Shares 12,000 12,000 D
Restricted Share Units (3) 12/31/2025 M 877.9716 (4) (4) Common Shares 877.9716 $0 0 D
Restricted Share Units (3) (5) (5) Common Shares 494 494 D
Performance Share Units (6) 02/22/2026 02/22/2026 Common Shares 12,125.4536 12,125.4536 D
Restricted Share Units (3) (7) (7) Common Shares 2,145.7643 2,145.7643 D
Performance Share Units (8) 03/15/2027 03/15/2027 Common Shares 11,972.1119 11,972.1119 D
Restricted Share Units (3) (9) (9) Common Shares 2,215.351 2,215.351 D
Performance Share Units (10) 03/15/2028 03/15/2028 Common Shares 13,396.9135 13,396.9135 D
Explanation of Responses:
1. Represents the vesting of the Reporting Person's restricted share units, which will settle shortly thereafter. Any shares that are withheld or sold to satisfy tax obligations will be reported separately in connection with the settlement.
2. These options are fully vested and exercisable.
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 occurred on December 31, 2025.
5. These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026.
6. The shares reported represent an award of performance based restricted share units ("2023 PBRSUs") granted to the Reporting Person. The 2023 PBRSUs will have a performance period beginning January 1, 2023 and ending December 31, 2025 and to the extent earned will vest on February 22, 2026. 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 and December 15, 2027.
8. 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.
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 on 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.
Remarks:
/s/ David Wallace, Attorney-in-Fact for Peter Perdue 01/05/2026
** 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.

Source: View Original Filing on SEC EDGAR