J. Patrick Doyle - Jan 4, 2023 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Role
Executive Chairman, Director
Signature
/s/ Michele Keusch, as Attorney-in-Fact for J. Patrick Doyle
Stock symbol
QSR
Transactions as of
Jan 4, 2023
Transactions value $
$0
Form type
4
Date filed
1/6/2023, 05:27 PM
Previous filing
Nov 23, 2022
Next filing
Apr 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding QSR Common Shares 500K Jan 4, 2023 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 Restricted Share Units Award $0 +4.19K +0.84% $0.00 504K Jan 4, 2023 Common Shares 4.19K Direct F2, F3, F4
transaction QSR Performance Share Units Award $0 +6.28K +0.84% $0.00 756K Jan 4, 2023 Common Shares 6.28K Direct F5, F6
holding QSR Option (right to buy) 2M Jan 4, 2023 Common Shares 2M $66.74 Direct
* 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 a member of L231LLC and the Investment Manager with sole voting and dispositive power over all of the assets of L231LLC, including the shares. 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 Represents 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.
F4 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.
F5 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.
F6 Represents 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.