J. Patrick Doyle - Nov 21, 2022 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Role
Executive Chairman
Signature
/s/ Michele Keusch, as Attorney-in-Fact for J. Patrick Doyle
Stock symbol
QSR
Transactions as of
Nov 21, 2022
Transactions value $
$0
Form type
4
Date filed
11/23/2022, 03:56 PM
Previous filing
Nov 23, 2022
Next filing
Jan 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding QSR Common Shares 500K Nov 21, 2022 By LLC 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 Option (right to buy) Award $0 +2M $0.00 2M Nov 21, 2022 Common Shares 2M $66.74 Direct
transaction QSR Restricted Share Units Award $0 +500K $0.00 500K Nov 21, 2022 Common Shares 500K Direct F2, F3
transaction QSR Performance Share Units Award $0 +750K $0.00 750K Nov 21, 2022 Common Shares 750K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares are held by Lodgepole 231 LLC, a Delaware limited liability company ("L231LLC"). The Reporting Person is the sole member of L231LLC and the Investment Manager. The Reporting Person disclaims beneficial ownership of the securities held by L231LLC except to the extent of his pecuniary interest therein.
F2 Each restricted share unit represents a contingent right to receive one common share.
F3 These restricted share units vest in equal installments on November 21, 2023, November 21, 2024, November 21, 2025, November 21, 2026 and November 21, 2027.
F4 The performance based restricted share units ("PBRSUs") will have a performance period beginning November 21, 2022 and ending March 21, 2028 and may be earned from 50% for the threshold performance to 200% for maximum performance, based on meeting performance targets tied to the appreciation of the price of RBI common shares.