Restaurant Brands (NYSE: QSR) exec sells shares to cover taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Restaurant Brands International executive Axel Schwan, President of Tim Hortons Americas, reported a mix of equity award activity and a share sale. On February 22, 2026, performance share units representing 81,587.3096 units were exercised and converted, delivering 65,269.8476 common shares at a stated price of $67.51 per share for reporting purposes. Following these transactions, Schwan directly held 229,922.8787 common shares.
On February 23, 2026, he sold 34,938.9494 common shares at an average price of $67.51 per share, with a footnote explaining the sale was made to cover withholding tax obligations related to the vesting of performance-based restricted share units. The filing also lists updated holdings of options, restricted share units, and performance share units that vest or may be earned over future performance periods.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 34,938.949 shares ($2,358,728)
Net Sell
11 txns
Insider
Schwan Axel
Role
Pres., Tim Hortons Americas
Sold
34,938.949 shs ($2.36M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Shares | 34,938.949 | $67.51 | $2.36M |
| Exercise | Performance Share Units | 81,587.31 | $0.00 | -- |
| Exercise | Common Shares | 65,269.848 | $0.00 | -- |
| holding | Option (Right to Buy) | -- | -- | -- |
| holding | Option (Right to Buy) | -- | -- | -- |
| holding | Option (Right to Buy) | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
Holdings After Transaction:
Common Shares — 194,983.929 shares (Direct);
Performance Share Units — 0 shares (Direct);
Option (Right to Buy) — 40,000 shares (Direct);
Restricted Share Units — 4,334.74 shares (Direct)
Footnotes (1)
- The 2023 PBRSUs vested at 80% of target based on the results of the performance condition. Represents shares sold to cover withholding tax obligations on the settlement of the vesting of the Reporting Person's performance based restricted share units. These options are fully vested and exercisable. 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. The shares reported represent an award of performance based restricted share units ("2023 PBRSUs") granted to the Reporting Person. The 2023 PBRSUs had a performance period beginning January 1, 2023 and ending December 31, 2025 and to the extent earned vested on February 22, 2026. The 2023 PBRSUs vested at 80% of target. 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.
FAQ
What did Axel Schwan report in the latest Form 4 for Restaurant Brands (QSR)?
Axel Schwan reported the vesting and exercise of performance share units into 65,269.8476 common shares and the sale of 34,938.9494 common shares. The sale was to cover tax withholding tied to vested performance-based restricted share units, and updated equity award balances were disclosed.
What equity awards vested or were exercised for Axel Schwan at Restaurant Brands (QSR)?
Performance share units representing 81,587.3096 units were exercised or converted, resulting in 65,269.8476 common shares credited to Axel Schwan. Footnotes describe these awards as performance-based restricted share units tied to multi-year performance periods, with vesting dependent on achieving specified performance conditions.
What ongoing equity awards does Axel Schwan still hold at Restaurant Brands (QSR)?
The filing lists holdings of options, restricted share units, and performance share units for Axel Schwan, with various remaining vesting dates through December 15, 2028 and performance periods extending to 2028. These awards represent contingent rights to receive additional common shares if vesting and performance conditions are met.
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