Restaurant Brands International Inc. Form 4 Filings

Restaurant Brands International President, International Thiago T. Santelmo reported several equity award transactions. On February 22, 2026, he exercised 19,580.9543 Performance Share Units, receiving 15,664.7634 common shares at no cost, bringing his direct common share holdings to 79,753.0402 shares.

On February 23, 2026, he sold 5,686.3092 common shares at $67.51 per share, leaving 74,066.731 common shares directly owned. A footnote states this sale was made to cover withholding tax obligations on the vesting of performance-based restricted share units. He also continues to hold exchangeable units, stock options, restricted share units and new performance-based RSU awards with performance periods and vesting dates extending through 2028.

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.

Restaurant Brands International Inc. executive Jill Granat, EVP, General Counsel & Secretary, reported several equity compensation-related transactions. On January 6, 2026, she acquired 45.1442 common shares at $0, settled from dividend equivalent rights tied to previously vested restricted share units. On January 7, 2026, she sold 1,925.0829 common shares at $67.44 per share, with the filing explaining these shares were sold to cover withholding tax obligations on the settlement of vested restricted share units. Following these transactions, she held 458,279.9556 common shares directly.

Granat also reported grants and accruals of restricted share units and performance share units, including small additional amounts of RSU and PSU dividend equivalent rights that vest and settle on the same terms as their underlying awards. The disclosed performance-based RSU awards have performance periods running through December 31, 2025, February 23, 2027, and February 28, 2028, with potential vesting on February 22, 2026, March 15, 2027, and March 15, 2028, depending on performance outcomes.

Restaurant Brands International executive Jacqueline Friesner, SVP, Controller and Principal Accounting Officer, reported several equity-compensation related movements in early January 2026. She acquired 19.112 common shares at $0 on January 6, 2026 from dividend-equivalent rights tied to previously vested restricted share units, and on January 7, 2026 sold 815.7643 common shares at $67.44 per share to cover withholding taxes from earlier RSU vesting. After these transactions she directly held 187,068.7308 common shares, along with 9,098 exchangeable units of Restaurant Brands International Limited Partnership that are convertible into common shares or cash. She also reported small additions of restricted share units and performance share units, including related dividend-equivalent rights, which each represent contingent rights to receive common shares subject to time-based vesting and multi‑year performance conditions through 2028.

Restaurant Brands International Inc. Chief Executive Officer Joshua Kobza reported several equity transactions in early January 2026. On January 7, 2026, he sold 3,443.3528 common shares at $67.44 per share, with the disclosure stating these shares were sold to cover withholding tax obligations tied to previously vested restricted share units.

On January 6, 2026, he acquired 80.8327 common shares at $0 from dividend equivalent rights on a vested restricted share unit award. He also received multiple awards and dividend-equivalent accruals of restricted share units and performance share units at $0, each representing a contingent right to receive common shares subject to time-based vesting or performance conditions.

Following these transactions, Kobza directly held 952,620.242 common shares. He also held derivative interests including 5,413 exchangeable units convertible into common shares or cash, fully vested options to buy 200,000 common shares at an exercise price of $56.92, and sizable balances of restricted and performance share units.

Restaurant Brands International executive Thomas Benjamin Curtis, President of Burger King US & Canada, reported several equity-related transactions. On January 7, 2026, he sold 1,171.5928 common shares of Restaurant Brands International at $67.44 per share to cover withholding tax obligations tied to previously vested restricted share units, and held 76,409.5053 common shares directly afterward. On January 6, 2026, he acquired 24.1515 common shares from dividend equivalent rights on vested restricted share units.

He also received multiple awards of restricted share units and performance share units, including 2023, 2024 and 2025 performance-based RSUs, which can settle in common shares depending on performance results. These units generally vest in annual installments or on specific dates in 2026, 2027 and 2028, with dividend equivalent rights accruing and vesting on the same terms as the underlying awards.

Restaurant Brands International Inc. President, International Thiago T. Santelmo reported several equity transactions in company securities. On January 7, 2026, he sold 699.1704 common shares of Restaurant Brands International Inc. at $67.44 per share, leaving him with 64,088.2768 common shares held directly. The filing explains this sale represents shares sold to cover withholding taxes tied to previously vested restricted share units.

On January 6, 2026, Santelmo acquired small additional amounts of common shares and multiple awards of restricted share units and performance share units, largely from dividend equivalent rights accruing on existing awards. He also reports direct holdings of exchangeable units and fully vested stock options with various exercise prices and expiration dates, reflecting his ongoing long-term equity incentive position in Restaurant Brands International Inc.

Restaurant Brands International executive Peter Perdue, President of Popeyes-US & Canada, reported several equity transactions in company common shares and awards. On January 7, 2026, he sold 395.6559 common shares at $67.44 per share, with a footnote stating the sale was to cover withholding taxes on previously vested restricted share units. On January 6, 2026, he acquired 8.1562 common shares at $0 from dividend equivalent rights, bringing his directly held common shares to 36,997.3677.

He also reported multiple derivative awards, including fully vested options to buy 10,000 and 12,000 common shares, as well as additional restricted share units and performance share units. Many of these derivative positions represent dividend equivalent rights that accrue as dividends are paid and vest on future dates tied to performance or time-based schedules.

Restaurant Brands International executive Axel Schwan reported equity compensation activity and a related share sale. On January 6, 2026, he acquired 36.745 common shares of Restaurant Brands International Inc. through the settlement of dividend equivalent rights on previously vested restricted share units, bringing his directly owned common shares to 166,839.7907.

On January 7, 2026, he sold 2,186.7596 common shares at $67.44 per share to cover withholding tax obligations on restricted share unit settlements, reducing his directly owned common shares to 164,653.0311. He also holds fully vested stock options covering 40,000, 30,000 and 56,000 common shares at exercise prices of $58.44, $64.75 and $66.31, respectively, plus multiple restricted share units and performance share units (with associated dividend equivalent rights) scheduled to vest between February 22, 2026 and March 15, 2028.

Restaurant Brands International Executive Chairman J. Patrick Doyle reported new equity awards and updated his share holdings. On January 6, 2026, he received 2,052.1385 restricted share units, each representing a contingent right to one common share, and 7,695.5195 performance-based restricted share units that can be earned at 50% to 200% of target based on share-price performance through May 21, 2028.

Following these awards, Doyle directly holds 193,855.0238 common shares, 2,000,000 options to buy common shares expiring in 2032, and derivative positions including 222,954.9217 restricted share units and 836,080.9563 performance share units500,000 common shares are held by Lodgepole 231 LLC, where he serves as investment manager with sole voting and dispositive power but disclaims beneficial ownership beyond his economic interest.

Restaurant Brands International Chief Corporate Officer Duncan Fulton reported routine equity activity. On January 6, 2026, he acquired 29.6602 common shares from dividend equivalent rights tied to previously vested restricted share units, increasing his direct holdings to 42,503.8128 common shares. On January 7, 2026, he sold 1,775.3334 common shares at $67.48 per share, leaving 40,728.4794 common shares held directly; the sale covered withholding tax obligations related to prior vesting.

Fulton also reported multiple awards and dividend-equivalent accruals of restricted share units and performance share units, each generally representing a contingent right to receive one common share. These awards include 2023, 2024 and 2025 performance-based RSUs with performance periods running through 2025, 2027 and 2028 and vesting dates in 2026, 2027 and 2028, as well as time-based RSUs vesting in equal annual installments through December 15, 2028. He continues to hold fully vested options to buy 60,000 and 15,000 common shares at fixed exercise prices.

Restaurant Brands International Inc. Chief Financial Officer Sami A. Siddiqui reported several equity compensation updates and a small share sale. On January 7, 2026, he sold 976.6931 common shares at $67.44 per share, with a footnote stating the sale was to cover withholding tax obligations on the settlement of previously vested restricted share units. After this, he directly held 12,116.3474 common shares.

On January 6, 2026, Siddiqui acquired 22.8626 common shares from dividend equivalents on vested restricted share units, and multiple grants of restricted share units and performance share units, all at $0 exercise or purchase price. He also reports fully vested options to buy 80,000 common shares at $55.55 and 20,000 common shares at $66.31. In addition, 235,228 common shares are held indirectly through a revocable trust for his benefit.

Restaurant Brands International Inc. executive Jeffrey Housman, Chief People & Services Officer, reported routine equity compensation and related share activity. On January 6, 2026, he acquired 31.3674 common shares at $0, representing shares settled from dividend equivalent rights on previously vested restricted share units. On January 7, 2026, he sold 1,483.4363 common shares at $67.44 per share to cover withholding tax obligations tied to prior restricted share unit vesting. Following these transactions, he directly held 148,086.0766 common shares, along with various restricted share units, performance share units, options, and exchangeable units that each relate to future or contingent rights to receive common shares.

Restaurant Brands International Inc. director Cristina Farjallat reported receiving 1,745 common shares on 12/31/2025. These represent restricted share units that are earned and vested upon grant and will settle after she leaves the board.

Following this award, she beneficially owns 5,029 common shares directly. She also holds an option to buy 15,218 common shares at an exercise price of $65.71 per share, which becomes exercisable on 02/24/2028 and expires on 02/23/2033.

Restaurant Brands International officer Thomas Benjamin Curtis, President of Burger King US & Canada, reported equity award activity dated 12/31/2025. He acquired 2,599.7968 common shares through the vesting of restricted share units, bringing his directly held common shares to 77,556.9466.

The filing details multiple sets of restricted share units and performance share units. Certain restricted share units vest in equal annual installments with remaining vesting dates on December 15, 2026, December 15, 2027 and December 15, 2028. Performance-based restricted share units granted for 2023, 2024 and 2025 have performance periods running through December 31, 2025, February 23, 2027 and February 28, 2028 respectively, and, to the extent earned, will vest on February 22, 2026, March 15, 2027 and March 15, 2028.

Restaurant Brands International Inc. director Ali Hedayat reported receiving 2,909 common shares in the form of restricted share units on 12/31/2025. These restricted share units are earned and vested upon grant and will settle after termination of board service. Following this grant, Hedayat beneficially owns 21,871 common shares of Restaurant Brands International Inc., held in direct ownership.

Restaurant Brands International officer and Pres., Tim Hortons Americas, reported equity activity and holdings in a Form 4-style disclosure. On December 31, 2025, restricted share units vested into 3,955.4214 common shares, increasing his directly held position to 166,803.0457 common shares following the transaction.

He also holds several option awards to buy common shares, including 40,000 options at $58.44 exercisable until February 22, 2028, 30,000 options at $64.75 until February 21, 2029, and 56,000 options at $66.31 until February 20, 2030, all directly owned and fully vested. In addition, he holds multiple restricted share unit and performance share unit awards that vest in installments or based on performance periods running through 2028, with settlement dates including February 22, 2026, March 15, 2027, and March 15, 2028.

Restaurant Brands International Inc. disclosed an insider equity transaction by its Chief People & Services Officer. On 12/31/2025, 3,376.5515 restricted share units vested and were settled into the same number of common shares, reported as an acquisition at a price of $0. Following this vesting, the officer directly beneficially owned 149,538.1455 common shares.

The filing also lists existing derivative holdings, including fully vested options to buy 20,000 common shares at $55.55, 20,000 at $58.44 and 30,000 at $66.31, as well as multiple tranches of restricted share units and performance share units totaling tens of thousands of underlying common shares with performance and time-based vesting schedules extending through 2028.

Restaurant Brands International director reports equity grant and holdings

A director of Restaurant Brands International Inc. reported receiving 1,454 common shares on 12/31/2025 as an equity grant at a price of $0 per share, increasing direct beneficial ownership to 4,025 common shares. The filing notes these shares represent restricted share units that are earned and vested upon grant and will settle after the director’s board service ends. The director also holds an option to buy 13,118 common shares at an exercise price of $76.23 per share, first exercisable on 06/15/2028 and expiring on 06/14/2033, with all 13,118 derivative securities reported as directly owned.

Restaurant Brands International Inc. director Maximilien de Limburg Stirum reported equity awards in the company’s shares. On 12/31/2025, he acquired 2,036 common shares as restricted share units that are earned and vested upon grant and will settle after his board service ends. Following this grant, he beneficially owns 10,804 common shares in direct form.

The filing also shows a fully vested stock option position. He holds 17,934 options with a conversion or exercise price of $55.76 per share, expiring on 06/14/2030. These options are described as fully vested and exercisable, giving him the right to buy the same number of common shares at that price.

Restaurant Brands International Inc. director Alexandre Behring reported changes in his equity holdings. On 12/31/2025, he acquired 2,036 common shares, described as restricted share units that are earned and vested upon grant and settle after his board service ends. The acquisition was reported at a price of $0, reflecting an equity award rather than a market purchase.

Following this transaction, Behring directly beneficially owned 2,036 common shares. He also indirectly beneficially owned 280,652 common shares through CLBB Investments, an entity where he and his spouse are the direct or indirect equity owners. Separately, he transferred 2,156 common shares to CLBB Investments in an exempt transaction under Rule 16a-13, while retaining voting and dispositive power over the shares held by that entity.

Restaurant Brands International director Jason Melbourne reported receiving restricted share units and disclosing existing stock options. On 12/31/2025, he acquired 2,327 restricted share units that are earned and vested upon grant and will settle after his board service ends. These were reported at a price of $0, reflecting that no cash payment was required.

Following this transaction, Melbourne beneficially owned 10,568 common shares directly. He also reported an outstanding stock option covering 18,860 common shares with a conversion or exercise price of $53.02 and an expiration date of 10/29/2030. The option was originally granted at an exercise price of CAD $70.64, translated at a Bank of Canada exchange rate of 1.3325, and is described as fully vested and exercisable.

Restaurant Brands International chief financial officer Sami Siddiqui reported changes in his equity holdings. On December 31, 2025, 2,461.05 restricted share units vested and converted into common shares, increasing his direct ownership. Following this transaction, he directly holds 13,070.1779 common shares and indirectly holds 235,228 common shares through a revocable trust.

He also holds fully vested options to buy 80,000 common shares at $55.55 per share and 20,000 common shares at $66.31 per share, as well as several blocks of restricted share units and performance-based restricted share units that vest in installments or based on performance through dates extending to 2030. These awards link a significant portion of his compensation to the company’s share performance over multiple years.

Restaurant Brands International director reports equity awards and holdings. Thecla Sweeney, a director of Restaurant Brands International Inc., reported receiving 1,745 common shares in the form of restricted share units that are earned and vested upon grant and settle after her board service ends. These were recorded at a price of $0 and bring her directly held common share balance to 7,649 shares. She also holds options giving her the right to buy 17,841 common shares at an exercise price of $56.28 per share, which is the U.S. dollar equivalent of CAD $71.74 at issuance. These options become exercisable on 01/01/2027 and expire on 01/01/2032, and she beneficially owns 17,841 such derivative securities directly.

Restaurant Brands International Inc. reported equity transactions for an officer serving as Chief Corporate Officer. On December 31, 2025, restricted share units vested into 3,194.0152 common shares, increasing the officer’s directly held stake to 42,474.1526 common shares after the transaction.

The officer also holds stock options to buy 60,000 common shares at $63.64 per share exercisable until August 3, 2028, and options for 15,000 common shares at $66.31 per share exercisable until February 21, 2030. Additional unvested equity awards include restricted share units and performance-based units tied to multi‑year performance periods, with potential vesting dates in 2026, 2027, and 2028, aligning the officer’s compensation with longer-term company performance.

Restaurant Brands International Inc. (QSR) CEO equity activity centers on the vesting of restricted share units and an updated snapshot of his holdings. On December 31, 2025, the reporting person acquired 8,701.2447 common shares through the vesting of restricted share units, increasing his directly held common shares to 955,982.7621 after the reported transaction.

The filing also details multiple derivative awards tied to Restaurant Brands International common shares, including 5,413 exchangeable units, a fully vested stock option covering 200,000 common shares at an exercise price of $56.92 expiring on May 4, 2027, and several time-based restricted share unit and performance-based restricted share unit grants with performance or vesting periods running into 2027 and 2028. These instruments together outline the CEO’s long-term, equity-based compensation structure.

Restaurant Brands International Inc. executive Jill Granat, EVP, General Counsel & Secretary, reported equity transactions and holdings in company stock. On December 31, 2025, restricted share units vested and converted into 4,859.5502 common shares, increasing her directly held common shares to 460,159.8943. The filing also lists derivative holdings, including fully vested stock options to buy 50,000 common shares at $66.31 and 25,000 common shares at $56.92, plus exchangeable units and multiple blocks of restricted share units and performance share units that vest over future dates based on service and performance conditions.

Restaurant Brands International Inc.'s President, International reported equity activity and current holdings. A block of 1,860.572 restricted share units vested on December 31, 2025 and converted into common shares at a price of $0, increasing the executive’s directly held stake to 64,770.1629 common shares. The filing also lists multiple stock options with exercise prices between $55.55 and $66.31 and expirations from February 2027 through February 2030, along with additional restricted share units and performance-based share units scheduled to vest over future dates based on continued service and performance conditions.

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.

Restaurant Brands International Inc. executive Jacqueline Friesner, SVP, Controller and Principal Accounting Officer, reported equity transactions and holdings in this Form 4. On 12/31/2025, restricted share units vested and converted into 2,057.3195 common shares, increasing her directly held position to 187,865.3831 common shares.

She also holds derivative equity awards, including 9,098 exchangeable units of Restaurant Brands International Limited Partnership that are convertible into common shares or cash, as well as multiple time-based restricted share unit grants and performance-based restricted share units. These awards cover future potential common shares that vest over time or based on performance periods running through dates such as February 22, 2026, March 15, 2027, and March 15, 2028.

Restaurant Brands International Inc. director reports new equity grant and updated holdings. On 12/31/2025, the reporting person received 1,454 restricted share units of Restaurant Brands common shares at a price of $0. These units are earned and vested upon grant and will settle after the person’s board service ends.

After this transaction, the person beneficially owns 12,279 common shares directly. In addition, 529,185.615 and 854,570 common shares are held indirectly through two limited liability companies for which the person holds all voting and dispositive power, while disclaiming beneficial ownership beyond any pecuniary interest.

The filing also shows derivative holdings of 14,296 and 123,700 exchangeable units held through these entities. Each exchangeable unit can be converted into Restaurant Brands common shares or a cash amount based on the weighted average trading price, at the partnership general partner’s discretion, with no expiration date on this conversion right.

Restaurant Brands International director reports share grant and holdings update. A board member acquired 1,454 common shares of Restaurant Brands International Inc. on 12/31/2025 at a price of $0, described as restricted share units that are earned and vested upon grant and that settle after board service ends. Following this transaction, the director beneficially owns 6,708 common shares directly and 15,000 common shares indirectly through Maai Ltd., an entity the director solely owns and for which beneficial ownership is disclaimed except for pecuniary interest. The director also holds an option to buy 15,358 common shares at an exercise price of $65.11 per share, exercisable starting 06/25/2026 and expiring on 06/25/2031.

Restaurant Brands International Inc. executive Jacqueline Friesner, SVP, Controller and Principal Accounting Officer, reported restricted share unit vesting and related share transactions dated December 15, 2025. Several restricted share units converted into common shares at an exercise price of $0, followed by sales of 750.6975, 688.9169 and 445.9786 common shares at $70.8733 per share to cover withholding tax obligations.

After these transactions, Friesner directly beneficially owns 185,808.0636 common shares. She also holds exchangeable units, restricted share units and performance-based restricted share units that can settle in common shares, with remaining vesting or performance periods running through December 31, 2025, February 23, 2027 and February 28, 2028 and vesting dates on February 22, 2026, December 15, 2026, December 15, 2027, December 15, 2028, March 15, 2027 and March 15, 2028, subject to the stated conditions.

Restaurant Brands International Inc. President, International, Thiago Santelmo reported several equity transactions dated December 15, 2025. Multiple blocks of restricted share units vested, adding 2,165.4943, 1,501.2918 and 1,833.1104 common shares at an exercise price of $0.

A footnote explains that 786.0744, 544.969 and 665.4191 common shares were sold to cover withholding tax obligations related to these vestings at a sale price of $70.8733 per share. After these transactions, he directly beneficially owned 62,909.5909 common shares.

He also held derivative awards, including stock options exercisable for 10,000 common shares at $58.44, 10,000 at $64.75, 30,000 at $66.31, as well as restricted and performance share units with performance and vesting periods running through 2028.

Restaurant Brands International executive Axel Schwan reported equity award activity and related share sales. On December 15, 2025, several restricted share unit grants vested into 4,295.9376, 3,547.2531 and 3,104.1629 common shares at $0 per share, increasing his direct holdings. On the same date, he sold 2,299.6154, 1,898.8445 and 1,661.6584 common shares at $70.8733 per share to cover withholding tax obligations. After these transactions, he directly held 162,847.6243 common shares.

He also holds fully vested stock options giving the right to buy 40,000, 30,000 and 56,000 common shares at exercise prices of $58.44, $64.75 and $66.31, expiring between February 2028 and February 2030. In addition, he owns various time-based restricted share units and performance-based units, including 2023, 2024 and 2025 performance awards that may settle into common shares between February 2026 and March 2028 depending on achievement of stated performance conditions.

Restaurant Brands International Inc. executive Jill Granat, EVP, General Counsel & Secretary, reported multiple share transactions in mid-December 2025. On 12/15/2025, several restricted share unit awards vested, delivering 3,930.0928, 3,880.6375 and 2,516.4167 common shares at $0 per share. To cover withholding taxes and tax equalization amounts related to these awards, she sold 4,058.127 and 1,257.3302 shares at $70.8733 per share. On 12/16/2025 she also gifted 5,326 shares in an exempt transaction. After these transactions she directly beneficially owned 455,300.3441 common shares and continues to hold stock options, restricted share units and performance-based share units with vesting dates extending through 2028.

Restaurant Brands International chief financial officer Sami Siddiqui reported equity transactions dated December 15, 2025. Several restricted share unit awards vested, giving him 2,438.2348, 3,700.1428 and 2,579.096 common shares at an exercise price of $0 per share. He then sold 3,163.9568 and 5,548.6719 shares at $70.8733 per share and 2,200 shares at a weighted average price of $70.8779, with individual sale prices between $70.53 and $71.016. The filing states these sales were primarily to cover withholding tax and tax equalization gross-up obligations owed to the company. After the transactions he beneficially owns 10,609.1279 common shares directly and 235,228 shares indirectly through a revocable trust, along with stock options and performance-based restricted share units that can settle in additional common shares if vesting and performance conditions are met.

Restaurant Brands International Inc. Chief Executive Officer Joshua Kobza reported multiple equity transactions dated December 15, 2025. He acquired 7,096.7312, 8,139.2524 and 5,016.393 common shares at $0 per share upon the vesting and settlement of restricted share units and related awards, increasing his direct holdings before subsequent transactions.

On the same date, he sold 7,937.1632 shares at $70.8733 to cover withholding tax obligations and sold 12,315.2133 and 5,220 shares, with proceeds primarily used to reimburse him for tax equalization gross-ups, including a block at a weighted-average price of $71.0449 per share within a $71.00–$71.14 range. He also gifted 14,000 shares in an exempt transaction and directly owned 947,281.5174 common shares after these transactions, alongside exchangeable units, stock options, restricted share units and performance-based restricted share units that vest or may be earned through 2028.

Restaurant Brands International executive Peter Perdue, President of Popeyes US & Canada, reported equity transactions on 12/15/2025. Several restricted share unit awards vested and delivered common shares, while portions of stock were sold at $70.8733 per share solely to cover withholding taxes. After these moves, he directly owns 36,506.8958 common shares.

He also continues to hold stock options to buy 10,000 shares at $64.75 and 12,000 shares at $66.31, plus time‑based and performance‑based restricted share units. These include 2023 performance‑based units covering 12,125.4536 shares with a performance period through 12/31/2025 that vest on 02/22/2026, along with additional performance awards tied to results through 2027 and 2028.

Restaurant Brands International Inc. Chief People & Services Officer Jeffrey Housman reported several equity transactions dated 12/15/2025. He acquired common shares at $0 upon the vesting and settlement of restricted share units in three lots of 2,557.6273, 2,637.3471 and 1,872.1565 shares, then sold 2,780.9161 and 3,053.7072 common shares at $70.8733 per share to cover withholding tax and tax equalization obligations.

After these trades, Housman directly beneficially owned 146,161.594 common shares. He also continues to hold stock options with exercise prices of $55.55, $58.44 and $66.31, as well as time-based restricted share units and performance-based restricted share units and performance share units with performance periods running through 2028.

Restaurant Brands International Chief Corporate Officer Duncan Fulton reported insider share transactions dated December 15, 2025. Several batches of restricted share units vested, resulting in acquisitions of 2,434.3095, 2,550.8236 and 1,610.4743 common shares at an exercise price of $0. On the same date, he sold 1,303.0859, 1,365.4558 and 862.0869 common shares at $70.8932 per share, and the company notes these sales were made to cover withholding tax obligations on the RSU settlements. After these transactions, he directly owned 39,280.1374 common shares.

He also holds stock options to buy 60,000 common shares at an exercise price of $63.64 and 15,000 common shares at $66.31, both fully vested with expirations in 2028 and 2030. In addition, he beneficially owns various restricted share units and performance-based restricted share units that vest in annual installments or based on performance results, with remaining vesting or settlement dates running from late 2025 through 2028.

Restaurant Brands International Inc. officer Thomas Benjamin Curtis, President of Burger King U.S. & Canada, reported multiple transactions in company common shares and equity awards dated December 15 and 17, 2025.

On December 15, he exercised restricted share units at an exercise price of $0 and sold portions of the resulting common shares at $70.8733 per share to cover withholding tax obligations from the vesting. On December 17, he sold an additional 4,250 common shares at $70.48 per share. After these transactions, he directly owns 74,957.1498 common shares and holds various restricted share units and performance-based restricted share units, with performance periods running from 2023 through 2028 and vesting dates including February 22, 2026 and March 15, 2027 and 2028.

3G-affiliated entities reported the settlement of a large forward sale of Restaurant Brands International Inc. (QSR) shares. On December 3, 2025, HL1 17 LP completed a previously announced forward sale contract with BofA Securities, Inc., which obligated HL1 to deliver up to 17,626,570 common shares in exchange for cash.

The cash payment was based on a price per share of $68.72, adjusted daily by an overnight bank funding rate minus a negotiated spread for the period the contract was outstanding. Following the reported transaction, the filing shows 0 common shares beneficially owned by the reporting persons, with the position reported as indirectly held prior to settlement and all reporting persons disclaiming beneficial ownership beyond any pecuniary interest.

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.

Restaurant Brands International (QSR) Executive Chairman J. Patrick Doyle reported equity transactions on November 21, 2025. He acquired 110,451.3916 common shares at an exercise price of $0 upon the vesting and settlement of restricted share units, then sold 15,499 shares at a weighted average price of $68.8864, 12,300 shares at $69.8413, and 15,798 shares at $70.6546. The company notes these sales were made to cover withholding tax obligations related to the RSU vesting.

After these transactions, Doyle reports continued direct and indirect ownership of QSR equity, including common shares held personally and 500,000 shares held indirectly through Lodgepole 231 LLC. He also holds 2,000,000 options with a $66.74 exercise price, additional time‑vesting restricted share units that continue to vest annually through November 21, 2027, and performance-based restricted share units with a performance period running from November 21, 2022 to May 21, 2028, which may be earned from 50% to 200% of target based on RBI share price appreciation.

Restaurant Brands International (QSR) disclosed insider activity by entities affiliated with 3G. On 11/13/2025, the holder elected to exchange 17,626,570 exchangeable units for 17,626,570 common shares (code C); the exchange became irrevocable that day and will be effected on or before December 3, 2025.

Separately, HL1 17 LP entered a forward sale contract with BofA Securities obligating delivery of up to 17,626,570 common shares on December 3, 2025 (or earlier at HL1’s election). Cash payment is based on a per-share price of $68.72, multiplied by a factor of 1 + (overnight bank funding rate − negotiated spread) for each day the contract is outstanding. Following the conversion entry, the filing lists 99,157,902 derivative securities beneficially owned.

J. Patrick Doyle, Executive Chairman and director of Restaurant Brands International (QSR), reported changes in his beneficial ownership on 10/07/2025. The filing shows a disposition of 127,000.6322 common shares, leaving an indirect beneficial holding of 500,000 common shares held through Lodgepole 231 LLC. The report also discloses derivative positions: an option to buy 2,000,000 common shares at a strike price of $66.74 exercisable beginning 11/21/2027 and expiring 11/20/2032, plus newly recorded restricted share units and performance share units that convert to 2,955.9653 and 7,389.9132 common shares respectively when settled. The filing notes dividend equivalents on those awards and vesting/ performance periods for the equity awards.

Jeffrey W. Klein, President, Popeyes‑US & Canada at Restaurant Brands International, Inc. (QSR), filed a Form 4 disclosing changes in beneficial ownership on 10/07/2025. The reporting form shows a disposition of 20,762.7801 common shares and multiple equity awards granted or credited the same day: restricted share units totaling 120.0714 RSUs (reported as several tranches with dividend equivalents), performance share unit awards totaling 620.8277 PSUs across three performance programs, and resulting beneficial ownership tallies for each award series. Several RSU tranches vest on 12/15/2025 through 12/15/2028, and PSU performance periods end between 12/31/2025 and 02/28/2028 with vesting dates in 02/22/2026, 03/15/2027, and 03/15/2028. The filing was signed by an attorney‑in‑fact on 10/09/2025.

Jill Granat, Senior EVP, General Counsel & Secretary of Restaurant Brands International Inc. (QSR), reported multiple equity transactions on 10/07/2025. The filing shows a disposition of 455,614.6543 common shares and subsequent changes in derivative holdings including exercises/awards reflected as reductions and new awards. Several performance- and restricted-share unit awards were granted/credited on 10/07/2025 with underlying common-share equivalents: 52,965, 50,000, 25,000 (options) and multiple RSU/PSU amounts totaling tens of thousands of common-share equivalents across vesting schedules through 03/15/2028. Some awards carry dividend equivalent accruals and specified vesting dates, while certain options are fully vested and exercisable with exercise prices of $56.92 and $66.31.

The report clarifies conversion rights for partnership exchangeable units into common shares or cash and lists remaining vesting dates for restricted share units, including final vesting in 2025–2028. The form was signed by an attorney-in-fact on 10/09/2025.