Jacqueline Friesner - 25 Feb 2026 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Signature
/s/ David Wallace, as Attorney-in-Fact for Jacqueline Friesner
Issuer symbol
QSR
Transactions as of
25 Feb 2026
Net transactions value
+$105,004
Form type
4
Filing time
27 Feb 2026, 17:34:16 UTC
Previous filing
24 Feb 2026

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Friesner Jacqueline SVP, Controller and Principal Accounting Officer C/O RESTAURANT BRANDS INTERNATIONAL INC., 5707 WATERFORD DISTRICT DRIVE, MIAMI /s/ David Wallace, as Attorney-in-Fact for Jacqueline Friesner 27 Feb 2026 0001552051

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction QSR Common Shares Award $105,004 +1,526 +0.79% $68.81 195,727 25 Feb 2026 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 Restricted Share Units Award $0 +5,089 $0.000000 5,089 25 Feb 2026 Common Shares 5,089 Direct F4, F10, F11
transaction QSR Performance Share Units Award $0 +18,892 $0.000000 18,892 25 Feb 2026 Common Shares 18,892 Direct F12
holding QSR Exchangeable Units 9,098 25 Feb 2026 Common Shares 9,098 Direct F3
holding QSR Restricted Share Units 1,928 25 Feb 2026 Common Shares 1,928 Direct F4, F5
holding QSR Restricted Share Units 3,538 25 Feb 2026 Common Shares 3,538 Direct F4, F6
holding QSR Performance Share Units 17,540 25 Feb 2026 Common Shares 17,540 Direct F7
holding QSR Restricted Share Units 3,433 25 Feb 2026 Common Shares 3,433 Direct F4, F8
holding QSR Performance Share Units 17,499 25 Feb 2026 Common Shares 17,499 Direct F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares reported represent common shares purchased from the Issuer by the Reporting Person upon exercise of her investment rights pursuant to the Issuer's 2025 Bonus Swap Program under its 2023 Omnibus Incentive Plan ("2023 Plan"). The Reporting Person elected to use 50% of her 2025 net bonus to purchase common shares at a purchase price of $68.81 per share ("Investment Shares").
F2 Pursuant to the Issuer's 2023 Plan, the purchase price of the Investment Shares is calculated based on the last sales price of common shares of the Issuer reported on the New York Stock Exchange on the trading day immediately preceding the grant date, in this case February 24, 2026.
F3 Each Restaurant Brands International Limited Partnership exchangeable unit is convertible, at the Reporting Person's election, into common shares of Restaurant Brands International Inc. or a cash amount equal to a prescribed cash amount determined by reference to the weighted average trading price of Restaurant Brands International Inc.'s common shares on the New York Stock Exchange for the 20 consecutive trading days ending on the last business day prior to the exchange date, at the sole discretion of the general partner of Restaurant Brands International Limited Partnership (subject to the consent of the Restaurant Brands International Inc. conflicts committee, in certain circumstances). This conversion right has no expiration date.
F4 Each restricted share unit represents a contingent right to receive one common share.
F5 These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026.
F6 These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027.
F7 The shares reported represent an award of performance based restricted share units ("2024 PBRSUs") granted to the Reporting Person. The 2024 PBRSUs will have a performance period beginning February 23, 2024 and ending February 23, 2027 and to the extent earned will vest on March 15, 2027. 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.
F8 These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026, December 15, 2027 and December 15, 2028.
F9 The shares reported represent an award of performance based restricted share units ("2025 PBRSUs") granted to the Reporting Person. The 2025 PBRSUs have a performance period beginning February 28, 2025 and ending on February 28, 2028 and to the extent earned will vest on March 15, 2028. 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 The Issuer granted the 2026 restricted share units ("2026 RSUs") to the Reporting Person pursuant to the Issuer's 2025 Bonus Swap Program under its 2023 Plan. The Reporting Person elected to use 50% of her 2025 net bonus to purchase Investment Shares and received a matching grant of 2026 RSUs in an amount equal to 50% of her gross bonus, multiplied by a multiplier based on the Reporting Person's position level with the Issuer ("RSU Multiplier"), and divided by the purchase price of $68.81 per share. The RSU Multiplier was 2.0 for senior vice presidents and above. If the Reporting Person sells any of the Investment Shares, she will forfeit all of the 2026 RSUs that have not yet vested.
F11 These restricted share units vest in equal annual installments. The vestings will occur on December 15, 2026, December 15, 2027, December 15, 2028 and December 15, 2029.
F12 The shares reported represent an award of performance based restricted share units ("2026 PBRSUs") granted to the Reporting Person. The 2026 PBRSUs will have a performance period beginning February 25, 2026 and ending February 25, 2029 and to the extent earned will vest on March 15, 2029. 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.

Remarks:

SVP, Controller and Principal Accounting Officer