Welcome to our dedicated page for Restaurant Brand SEC filings (Ticker: QSR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The SEC filings of Restaurant Brands International Inc. (QSR) provide detailed insight into how one of the world’s largest quick service restaurant companies reports its financial condition, capital structure and material events. As a Canada-incorporated issuer with principal executive offices in Miami, Florida, RBI files current reports on Form 8-K, along with annual and quarterly reports, under Commission File Number 001-36786.
In its Form 8-K filings, RBI discloses items such as quarterly and year-to-date financial results, including system-wide sales, comparable sales, net restaurant growth, revenues and adjusted operating income across its Tim Hortons, Burger King, Popeyes, Firehouse Subs, International and Restaurant Holdings segments. These filings often include or reference press releases and supplemental financial and operational information that explain segment dynamics, intersegment revenues and non-GAAP measures.
Other 8-K filings document material agreements and capital markets transactions. Examples include underwriting agreements for secondary offerings of common shares by significant shareholders, forward sale agreements with financial counterparties, and details on pricing and settlement of those offerings. RBI also reports on debt transactions, such as first lien senior secured notes, and describes how proceeds are expected to be used, for example to redeem existing notes.
Filings further cover strategic actions like the joint venture with an investment fund managed by CPE for Burger King China, including the ownership structure of the joint venture, the planned 20-year master development agreement and the classification of Burger King China as held for sale and reported in discontinued operations. Investors can also review disclosures on non-cash impairment charges associated with these transactions.
On Stock Titan’s QSR filings page, users can access these SEC documents as they are posted to EDGAR and use AI-powered summaries to interpret complex sections. This includes quickly understanding the implications of new 8-K filings, equity and debt offerings, and segment-level updates, as well as tracking how RBI’s franchise-focused model and global restaurant portfolio are reflected in its regulatory reporting.
Restaurant Brands International Inc. officer Jeffrey Housman reported multiple equity transactions. On February 23, 2026, he completed an open‑market sale of 7,705.1055 common shares at $67.51 per share, with a footnote stating the sale was to cover withholding tax obligations on the settlement of performance‑based restricted share units.
On February 22, 2026, he exercised performance share units into 19,580.9543 common shares at a stated price of $0.00 per share and now holds 159,961.9254 common shares directly. The filing also lists direct holdings of exchangeable units, stock options, restricted share units, and additional performance share units with various vesting schedules and performance periods.
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. filed its 2025 annual report, outlining the business of its four global quick service brands: Tim Hortons, Burger King, Popeyes, and Firehouse Subs. The company reports nearly $46.8 billion in annual system-wide sales and 33,041 restaurants across more than 120 countries as of December 31, 2025.
More than 95% of locations are franchised, with key growth driven by international master franchise and development agreements and by the Carrols acquisition, which added a large portfolio of Burger King restaurants the company plans to refranchise. Restaurant Brands also closed a joint venture for Burger King China and now holds about 17% of that business, which is presented as discontinued operations.
The filing highlights substantial leverage, with $13,372 million of debt outstanding, and details risks related to economic conditions, competition, food safety, supply chain, labor markets, technology, cybersecurity, and evolving global tax and sustainability regulations. As of December 31, 2025, the company employed about 53,500 people worldwide and emphasizes digital initiatives, loyalty programs, and sustainability pillars focused on food, planet, and communities.
Restaurant Brands International Inc. received a Schedule 13G from EdgePoint Investment Group Inc., which reported beneficial ownership of 16,645,003 common shares, representing 5.08% of the class as of 12/31/2025.
EdgePoint, an investment adviser based in Ontario, Canada, reported sole voting and dispositive power over 12,111,205 shares and shared voting and dispositive power over 4,533,798 shares. EdgePoint states the shares are held in the ordinary course of business and not with the purpose of changing or influencing control of the issuer.
Restaurant Brands International reported fourth-quarter and full-year 2025 results showing steady topline growth but softer GAAP profitability. System-wide sales grew 5.8% in Q4 and 5.3% for 2025, with consolidated comparable sales up 3.1% in Q4. Total revenues reached $2,466 million in Q4 and $9,434 million for 2025, up from $2,296 million and $8,406 million in 2024.
Income from operations declined to $2,202 million for 2025 from $2,419 million, and net income from continuing operations fell to $1,201 million from $1,445 million, partly reflecting higher taxes and a non-cash charge tied to Burger King China, which contributed to discontinued operations. On an adjusted basis, performance was stronger: Adjusted Operating Income rose to $2,584 million from $2,402 million and Adjusted EBITDA to $2,970 million from $2,784 million, with organic AOI growth of 8.3% for 2025 and 15.6% in Q4.
Adjusted diluted EPS increased to $3.69 in 2025 from $3.34, while reported diluted EPS from continuing operations declined to $2.63 from $3.18. Net leverage improved to 4.2x from 4.6x, and the company returned about $1.1 billion to shareholders in 2025. The board declared a first-quarter 2026 dividend of $0.65 per share and set a 2026 annual dividend target of $2.60 per share. For 2026, RBI guides Segment G&A (excluding RH) to $600–$620 million, RH Segment G&A to about $100 million, Adjusted Interest Expense, net, to $500–$520 million, and Total Capex and Cash Inducements to around $400 million. Management reiterates a 2024–2028 long-term algorithm of 3%+ comparable sales and 8%+ organic Adjusted Operating Income growth.
BlackRock, Inc. filed an amended Schedule 13G/A reporting beneficial ownership of 22,790,938 shares of Restaurant Brands International Inc. common stock, representing 7.0% of the class as of the reporting date. BlackRock has sole voting power over 21,600,193 shares and sole dispositive power over 22,790,938 shares, with no shared voting or dispositive power.
The filing explains that these holdings reflect positions managed by certain BlackRock business units in the ordinary course of business, not for the purpose of changing or influencing control of the company. Various underlying clients have rights to dividends or sale proceeds, but no single client holds more than five percent of Restaurant Brands International’s outstanding common shares.
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.