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

Role
Chief Corporate Officer
Signature
/s/ Michele Keusche, as Attorney-in-Fact for Duncan Fulton
Stock symbol
QSR
Transactions as of
Feb 19, 2024
Transactions value $
-$759,519
Form type
4
Date filed
2/21/2024, 06:00 PM
Previous filing
Jan 8, 2024
Next filing
Feb 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction QSR Common Shares Options Exercise $0 +18.6K +95.25% $0.00 38K Feb 19, 2024 Direct
transaction QSR Common Shares Sale -$760K -9.93K -26.11% $76.46 28.1K Feb 20, 2024 Direct F1, F2

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 -18.6K -100% $0.00* 0 Feb 19, 2024 Common Shares 18.6K Direct F3
holding QSR Option (Right to Buy) 60K Feb 19, 2024 Common Shares 60K $63.64 Direct F4
holding QSR Option (Right to Buy) 15K Feb 19, 2024 Common Shares 15K $66.31 Direct
holding QSR Restricted Share Units 3.04K Feb 19, 2024 Common Shares 3.04K Direct F5, F6
holding QSR Performance Share Units 59.5K Feb 19, 2024 Common Shares 59.5K Direct F7
holding QSR Performance Share Units 28.9K Feb 19, 2024 Common Shares 28.9K Direct F8
holding QSR Restricted Share Units 1.85K Feb 19, 2024 Common Shares 1.85K Direct F5, F9
holding QSR Restricted Share Units 6.02K Feb 19, 2024 Common Shares 6.02K Direct F5, F10
holding QSR Performance Share Units 26.2K Feb 19, 2024 Common Shares 26.2K Direct F11
holding QSR Restricted Share Units 6.88K Feb 19, 2024 Common Shares 6.88K Direct F5, F12
holding QSR Performance Share Units 22.5K Feb 19, 2024 Common Shares 22.5K Direct F13
* 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 reported shares were sold in Canadian dollars at a price of CAD$103.36 per share. The purchase price was converted into its U.S. dollar equivalent using the Bank of Canada daily exchange rate on the sale date.
F3 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.
F4 These options are fully vested and exercisable.
F5 Each restricted share unit represents a contingent right to receive one common share.
F6 These restricted share units vest on December 31, 2024.
F7 The shares reported represent an award of performance based restricted share units ("2019 PBRSUs") granted to the Reporting Person. The 2019 PBRSUs have a performance period ending December 31, 2021 and will vest on February 22, 2024, which is the fifth anniversary of the grant date.
F8 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.
F9 These restricted share units vest in equal installments on December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2024.
F10 These restricted share units vest in equal installments on December 31, 2022, December 31, 2023, December 31, 2024 and December 25, 2025.
F11 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.
F12 These restricted share units vest in equal installments on December 15, 2023, December 15, 2024, December 15, 2025 and December 15, 2026.
F13 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.