Restaurant Brands (NYSE: QSR) Popeyes president receives new equity awards and reports holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Restaurant Brands International Inc. executive Peter Perdue, President Popeyes-US & Canada, reported updated equity holdings, including new grants of performance share units and restricted share units that may convert into common shares if vesting and performance conditions are met. He also reports existing common shares and fully vested stock options that remain outstanding.
Positive
- None.
Negative
- None.
Insights
Routine equity awards increase Peter Perdue’s incentive-based exposure without any open-market buying or selling.
Officer Peter Perdue, President Popeyes-US & Canada, received several equity-based awards in the form of performance share units and restricted share units on 2026-07-07. Code A indicates these are grants or awards, not market purchases. The units convert into common shares only if time-based vesting and, for performance awards, performance conditions are achieved.
Perdue now holds 43,626.7121 common shares directly, plus fully vested options covering 12,000 shares at an exercise price of $66.3100 expiring on 2030-02-20 and 10,000 shares at $64.7500 expiring on 2029-02-21. Additional awards of performance-based restricted share units from 2024, 2025 and 2026 have performance periods running through 2027-02-23, 2028-02-28 and 2029-02-25, respectively, and vest on March 15 of the following year if earned. Dividend equivalent rights accrue on both RSUs and PBRSUs, increasing potential future share delivery as dividends are paid.
Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
PERDUE PETER
Role
President, Popeyes-US & Canada
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Share Units | 4.463 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 19.384 | $0.00 | -- |
| Grant/Award | Performance Share Units | 108.152 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 20.013 | $0.00 | -- |
| Grant/Award | Performance Share Units | 121.023 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 24.193 | $0.00 | -- |
| Grant/Award | Performance Share Units | 260.147 | $0.00 | -- |
| holding | Option (Right to Buy) | -- | -- | -- |
| holding | Option (Right to Buy) | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units — 507.367 shares (Direct, null);
Performance Share Units — 12,296.065 shares (Direct, null);
Option (Right to Buy) — 10,000 shares (Direct, null);
Common Shares — 43,626.712 shares (Direct, null)
Footnotes (1)
- 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 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. 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.
Key Figures
Common shares held: 43,626.7121 common shares
Option at $66.3100: 12,000 underlying shares at $66.3100
Option at $64.7500: 10,000 underlying shares at $64.7500
+4 more
7 metrics
Common shares held
43,626.7121 common shares
Direct ownership of common shares following the reported transactions
Option at $66.3100
12,000 underlying shares at $66.3100
Fully vested option (right to buy) expiring on 2030-02-20
Option at $64.7500
10,000 underlying shares at $64.7500
Fully vested option (right to buy) expiring on 2029-02-21
PSU grant 2026 PBRSUs
260.1470 units
Performance share units with performance period 2026-02-25 to 2029-02-25, vesting 2029-03-15 if earned
RSU grant
24.1933 units
Restricted share units granted at $0.0000 with equal annual vesting including December 15, 2026 and 2027
PSU grant 2025 PBRSUs
121.0233 units
Performance share units with performance period 2025-02-28 to 2028-02-28, vesting 2028-03-15 if earned
PSU grant 2024 PBRSUs
108.1521 units
Performance share units with performance period 2024-02-23 to 2027-02-23, vesting 2027-03-15 if earned
Key Terms
Performance Share Units, Restricted Share Units, dividend equivalent rights, performance period, +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.
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.
vesting financial
"These restricted share units vest in equal annual installments."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
FAQ
What did QSR executive Peter Perdue report in his latest Form 4?
Peter Perdue reported new grants of performance share units and restricted share units plus his existing common share and stock option holdings, with no open-market purchases or sales disclosed.
What stock options for QSR does Peter Perdue currently hold?
Peter Perdue holds fully vested options to buy 12,000 QSR common shares at $66.3100 expiring February 20, 2030, and 10,000 shares at $64.7500 expiring February 21, 2029.
How do dividend equivalent rights work on Peter Perdue’s QSR RSUs and PBRSUs?
Dividend equivalent rights accrue when dividends are paid on the underlying common shares and vest and settle on the same terms as the related restricted share units or performance-based restricted share units.
Are Peter Perdue’s new QSR equity awards time-vested or performance-based?
Peter Perdue’s awards include both time-vested restricted share units with annual installment vesting dates and performance-based restricted share units whose earned shares depend on specified performance conditions.