Sami Siddiqui - Nov 18, 2022 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Role: Brand Pres., Popeyes, Americas
Signature: /s/ Michele Keusch, as Attorney-in-Fact for Sami A. Siddiqui
Stock symbol: QSR
Transactions as of: Nov 18, 2022
Transactions value $: -$1,005,450
Form type: 4
Date filed: 11/22/2022, 04:26 PM
Previous filing: Oct 7, 2022
Next filing: Jan 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	QSR	Common Shares	Sale	-$1.01M	-15K	-10.65%	$67.03	126K	Nov 18, 2022	By Trust	F1, F2
holding	QSR	Common Shares						9.27K	Nov 18, 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)						80K	Nov 18, 2022	Common Shares	80K	$55.55	Direct	F3
holding	QSR	Option (Right to Buy)						20K	Nov 18, 2022	Common Shares	20K	$66.31	Direct
holding	QSR	Restricted Share Units						6.55K	Nov 18, 2022	Common Shares	6.55K		Direct	F4, F5
holding	QSR	Restricted Share Units						7.95K	Nov 18, 2022	Common Shares	7.95K		Direct	F4, F6
holding	QSR	Performance Share Units						57.2K	Nov 18, 2022	Common Shares	57.2K		Direct	F7
holding	QSR	Performance Share Units						22.2K	Nov 18, 2022	Common Shares	22.2K		Direct	F8
holding	QSR	Performance Share Units						21.5K	Nov 18, 2022	Common Shares	21.5K		Direct	F9
holding	QSR	Restricted Share Units						9.37K	Nov 18, 2022	Common Shares	9.37K		Direct	F4, F10
holding	QSR	Restricted Share Units						8.21K	Nov 18, 2022	Common Shares	8.21K		Direct	F4, F11
holding	QSR	Performance Share Units						28.5K	Nov 18, 2022	Common Shares	28.5K		Direct	F12
holding	QSR	Restricted Share Units						8.91K	Nov 18, 2022	Common Shares	8.91K		Direct	F4, F13
holding	QSR	Performance Share Units						40.7K	Nov 18, 2022	Common Shares	40.7K		Direct	F14

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

Explanation of Responses:

Id	Content
F1	Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $67.00 to $67.25 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.
F2	These shares are held by a revocable trust, of which the Reporting Person is the settlor and trustee for the benefit of the Reporting Person.
F3	These options are immediately exercisable.
F4	Each restricted share unit represents a contingent right to receive one common share.
F5	These restricted share units vest on December 31, 2023.
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 21, 2024, which is the fifth anniversary of the grant date.
F8	The shares reported represent an award of performance based restricted share units (the "2020-1 PBRSUs") granted to the Reporting Person. The 2020-1 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	The shares reported represent an award of performance based restricted share units ("2020-2 PBRSUs") granted to the Reporting Person. The 2020-2 PBRSUs have a performance period ending December 31, 2021 and will vest on February 21, 2025.
F10	These restricted share units vest in equal installments on December 31, 2021, December 31, 2022 and December 2023.
F11	These restricted share units vest in equal installments on December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2024.
F12	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.
F13	These restricted share units vest in equal installments on December 31, 2022, December 31, 2023, December 31, 2024 and December 31, 2025.
F14	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, 2024 and to the extent earned will vest 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.