Here are the Form 4 insider transactions from Restaurant Brands International Inc. (QSR) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow QSR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full QSR filings page.
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.