Axel Schwan - Feb 19, 2024 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Role
Pres., Tim Hortons Americas
Signature
/s/ Michele Keusch, as Attorney-in-Fact for Axel Schwan
Stock symbol
QSR
Transactions as of
Feb 19, 2024
Transactions value $
-$1,212,096
Form type
4
Date filed
2/21/2024, 06:00 PM
Previous filing
Jan 8, 2024
Next filing
Mar 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction QSR Common Shares Options Exercise $0 +29.7K +25.57% $0.00 146K Feb 19, 2024 Direct
transaction QSR Common Shares Sale -$1.21M -15.9K -10.9% $76.26 130K Feb 20, 2024 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction QSR Performance Share Units Options Exercise $0 -29.7K -100% $0.00* 0 Feb 19, 2024 Common Shares 29.7K Direct F2
holding QSR Option (Right to Buy) 40K Feb 19, 2024 Common Shares 40K $58.44 Direct F3
holding QSR Option (Right to Buy) 30K Feb 19, 2024 Common Shares 30K $64.75 Direct
holding QSR Option (Right to Buy) 56K Feb 19, 2024 Common Shares 56K $66.31 Direct
holding QSR Restricted Share Units 3.14K Feb 19, 2024 Common Shares 3.14K Direct F4, F5
holding QSR Performance Share Units 46.2K Feb 19, 2024 Common Shares 46.2K Direct F6
holding QSR Restricted Share Units 2.17K Feb 19, 2024 Common Shares 2.17K Direct F4, F7
holding QSR Restricted Share Units 7.45K Feb 19, 2024 Common Shares 7.45K Direct F4, F8
holding QSR Performance Share Units 42.3K Feb 19, 2024 Common Shares 42.3K Direct F9
holding QSR Restricted Share Units 12.1K Feb 19, 2024 Common Shares 12.1K Direct F4, F10
holding QSR Performance Share Units 76.1K Feb 19, 2024 Common Shares 76.1K Direct F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares sold to cover withholding taxes on the settlement of the vesting of the Reporting Person's performance share units.
F2 The shares reported represent an award of performance based restricted share units ("2021 PBRSUs") granted to the Reporting Person. The 2021 PBRSUs will have a performance period beginning January 1, 2021 and ending December 31, 2021 and to the extent earned will vest 100% on February 19, 2024.
F3 These options are fully vested and exercisable.
F4 Each restricted share unit represents a contingent right to receive one common share.
F5 These restricted share units vest on December 31, 2024.
F6 The shares reported represent an award of performance based restricted share units ("2020 PBRSUs") granted to the Reporting Person. The 2020 PBRSUs have a performance period ending December 31, 2021 and will vest on February 21, 2025, which is the fifth anniversary of the grant date.
F7 These restricted share units vest in equal installments on December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2024.
F8 These restricted share units vest in equal installments on December 31, 2022, December 31, 2023, December 31, 2024 and December 25, 2025.
F9 The shares reported represent an award of performance based restricted share units ("2022 PBRSUs") granted to the Reporting Person. The 2022 PBRSUs will have a performance period beginning January 1, 2022 and ending December 31, 2022 and to the extent earned will vest 100% on February 25, 2025. 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.
F10 These restricted share units vest in equal installments on December 15, 2023, December 15, 2024, December 15, 2025 and December 15, 2026.
F11 The shares reported represent an award of performance based restricted share units ("2023 PBRSUs") granted to the Reporting Person. The 2023 PBRSUs will have a performance period beginning January 1, 2023 and ending December 31, 2025 and to the extent earned will vest on February 22, 2026, 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.