Restaurant Brands International (QSR) director discloses November 26, 2025 share sales

Rhea-AI Filing Summary

Restaurant Brands International Inc. director reports share sales. A director of Restaurant Brands International Inc. (ticker QSR) reported selling common shares of the company on 11/26/2025. The transactions included 2,273 common shares sold at a weighted average price of $72.6543 per share and an additional 4,727 common shares sold at a weighted average price of $72.8316 per share. After these sales, the reporting person directly beneficially owned 18,962 common shares of Restaurant Brands International. The prices in one transaction reflect U.S. dollar equivalents of trades executed in Canadian dollars using the Bank of Canada daily exchange rate on November 26, 2025.

Insider Trade Summary

Net Seller: 7,000 shares ($509,418)

Net Sell 2 txns

Insider Hedayat Ali

Role Director

Sold 7,000 shs ($509K)

Type	Security	Shares	Price	Value
Sale	Common Shares	2,273	$72.6543	$165K
Sale	Common Shares	4,727	$72.8316	$344K

Holdings After Transaction: Common Shares — 23,689 shares (Direct)

Footnotes (1)

1. Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction range from USD$72.63 to USD$72.655 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. Represents the weighted average price of the shares sold. The reported shares were sold in Canadian dollars at prices ranging from CAD$102.33 to CAD$102.47 per share, inclusive. The sale prices were converted into their U.S. dollar equivalent ranging from USD$72.7873 to USD$72.8869 per share using the Bank of Canada daily exchange rate on November 26, 2025 of 0.7113. 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.

Form 4 Insider Transactions: What Each Field Means →

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^*

Hedayat Ali

(Last) (First) (Middle)

130 KING STREET WEST

SUITE 300

(Street)

TORONTO A6 M5X 1E1

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/26/2025

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	11/26/2025		S		2,273	D	$72.6543(1)	23,689	D
Common Shares	11/26/2025		S		4,727	D	$72.8316(2)	18,962	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

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 USD$72.63 to USD$72.655 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. Represents the weighted average price of the shares sold. The reported shares were sold in Canadian dollars at prices ranging from CAD$102.33 to CAD$102.47 per share, inclusive. The sale prices were converted into their U.S. dollar equivalent ranging from USD$72.7873 to USD$72.8869 per share using the Bank of Canada daily exchange rate on November 26, 2025 of 0.7113. 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.

Remarks:

	/s/ Jill Granat, Attorney-in-Fact for Ali Hedayat	12/01/2025
	** 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.

FAQ

What insider transaction did Restaurant Brands International (QSR) report in this Form 4?

A director of Restaurant Brands International Inc. reported selling common shares of the company on 11/26/2025, as disclosed in this Form 4 filing.

How many Restaurant Brands International (QSR) shares were sold in the reported transactions?

The director sold 2,273 common shares in one transaction and 4,727 common shares in another, both dated 11/26/2025.

At what prices were the Restaurant Brands International (QSR) shares sold?

One sale had a weighted average price of $72.6543 per share, and the other had a weighted average price of $72.8316 per share, based on ranges detailed in the filing.

How many Restaurant Brands International (QSR) shares does the insider own after these sales?

Following the reported transactions, the director beneficially owned 18,962 common shares of Restaurant Brands International Inc., held directly.

Were any of the Restaurant Brands International (QSR) share sales executed in Canadian dollars?

Yes. One group of reported sales was executed in Canadian dollars at prices ranging from CAD$102.33 to CAD$102.47 per share and then converted to U.S. dollars using the Bank of Canada daily exchange rate of 0.7113 on November 26, 2025.

What do the weighted average prices mean in this Restaurant Brands International (QSR) Form 4?

The filing states that each reported price is a weighted average of multiple trades within a specified price range, and that the reporting person will provide full details of the number of shares sold at each separate price upon request.

What is the reporting person’s relationship to Restaurant Brands International (QSR)?

The reporting person is identified as a Director of Restaurant Brands International Inc. in this Form 4 filing.