Duncan Fulton - Jan 21, 2022 Form 3 Insider Report for Restaurant Brands International Inc. (QSR)

Role: Chief Corporate Officer
Signature: /s/ Michele Keusch, Attorney-in-Fact
Stock symbol: QSR
Transactions as of: Jan 21, 2022
Transactions value $: $0
Form type: 3
Date filed: 1/31/2022, 07:46 PM
Next filing: Mar 1, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	QSR	Common Shares						5.28K	Jan 21, 2022	Direct

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
holding	QSR	Option (Right to Buy)							Jan 21, 2022	Common Shares	60K	$63.64	Direct	F1
holding	QSR	Option (Right to Buy)							Jan 21, 2022	Common Shares	15K	$66.31	Direct	F2
holding	QSR	Restricted Share Units							Jan 21, 2022	Common Shares	3.02K		Direct	F3, F4, F5
holding	QSR	Restricted Share Units							Jan 21, 2022	Common Shares	2.84K		Direct	F5, F6, F7
holding	QSR	Performance Share Units							Jan 21, 2022	Common Shares	55.5K		Direct	F8, F9
holding	QSR	Performance Share Units							Jan 21, 2022	Common Shares	27K		Direct	F10, F11
holding	QSR	Restricted Share Units							Jan 21, 2022	Common Shares	5.69K		Direct	F5, F12, F13
holding	QSR	Restricted Share Units							Jan 21, 2022	Common Shares	5.19K		Direct	F5, F14, F15
holding	QSR	Performance Share Units							Jan 21, 2022	Common Shares	17.3K		Direct	F16, F17

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The options were issued with an exercise price of CAD $82.81. The reported exercise price represents the U.S. dollar equivalent.
F2	The options were issued with an exercise price of CAD $88.03. The reported exercise price represents the U.S. dollar equivalent.
F3	These restricted share units vest on December 31, 2023.
F4	Includes 301.5259 dividend equivalent rights that accrued on the underlying award of restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted share units to which they relate.
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	Includes 206.5074 dividend equivalent rights that accrued on the underlying award of restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted share units to which they relate.
F8	Includes 5,540.7177 dividend equivalent rights that accrued on the underlying award of performance based restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable performance based restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the performance based restricted share units to which they relate.
F9	The shares reported represent an award of performance base restricted share units (the "2019 PBRSUs") granted to the Reporting Person. The 2019 PBRSUs will have a performance period ending December 31, 2021 and to the extent earned will vest on February 21, 2024, which is the fifth anniversary of the grant date. 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	Includes 1,962.2524 dividend equivalent rights that accrued on the underlying award of performance based restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable performance based restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the performance based restricted share units to which they relate.
F11	The shares reported represent an award of performance based restricted share units (the "2020 PBRSUs") granted to the Reporting Person. The 2020 PBRSUs will have a performance period ending December 31, 2021 and to the extent earned will vest on February 21, 2025, which is the fifth anniversary of the grant date. 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 31, 2021, December 31, 2022 and December 31, 2023.
F13	Includes 283.2373 dividend equivalent rights that accrued on the underlying award of restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted share units to which they relate.
F14	These restricted share units vest in equal installments on December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2024.
F15	Includes 229.8857 dividend equivalent rights that accrued on the underlying award of restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted share units to which they relate.
F16	Includes 575.0574 dividend equivalent rights that accrued on the underlying award of performance based restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable performance based restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the performance based restricted share units to which they relate.
F17	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, 2023 and to the extent earned will vest on February 19, 2024. 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.