Axel Schwan - Aug 23, 2024 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Role: Pres., Tim Hortons Americas
Signature: /s/ Michele Keusch, as Attorney-in-Fact for Axel Schwan
Stock symbol: QSR
Transactions as of: Aug 23, 2024
Transactions value $: -$2,535,934
Form type: 4
Date filed: 8/27/2024, 05:02 PM
Previous filing: Jul 9, 2024
Next filing: Oct 8, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	QSR	Common Shares	Sale	-$1.69M	-24.1K	-18.05%	$70.12	109K	Aug 23, 2024	Direct	F1
transaction	QSR	Common Shares	Sale	-$846K	-11.9K	-10.88%	$71.10	97.5K	Aug 23, 2024	Direct	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
holding	QSR	Option (Right to Buy)						40K	Aug 23, 2024	Common Shares	40K	$58.44	Direct	F3
holding	QSR	Option (Right to Buy)						30K	Aug 23, 2024	Common Shares	30K	$64.75	Direct	F3
holding	QSR	Option (Right to Buy)						56K	Aug 23, 2024	Common Shares	56K	$66.31	Direct
holding	QSR	Restricted Share Units						3.19K	Aug 23, 2024	Common Shares	3.19K		Direct	F4, F5
holding	QSR	Performance Share Units						46.9K	Aug 23, 2024	Common Shares	46.9K		Direct	F6
holding	QSR	Restricted Share Units						2.21K	Aug 23, 2024	Common Shares	2.21K		Direct	F4, F7
holding	QSR	Restricted Share Units						7.57K	Aug 23, 2024	Common Shares	7.57K		Direct	F4, F8
holding	QSR	Performance Share Units						43K	Aug 23, 2024	Common Shares	43K		Direct	F9
holding	QSR	Restricted Share Units						12.3K	Aug 23, 2024	Common Shares	12.3K		Direct	F4, F10
holding	QSR	Performance Share Units						77.3K	Aug 23, 2024	Common Shares	77.3K		Direct	F11
holding	QSR	Restricted Share Units						13.6K	Aug 23, 2024	Common Shares	13.6K		Direct	F4, F12
holding	QSR	Performance Share Units						53.9K	Aug 23, 2024	Common Shares	53.9K		Direct	F13

* 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 $70.00 to $70.41 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 price.
F2	Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $71.10 to $71.13 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 price.
F3	These options are fully vested and exercisable.
F4	Each restricted share unit represents a contingent right to receive one common share.
F5	These restricted share units vest on December 31, 2024.
F6	The shares reported represent an award of performance based restricted share units ("2020 PBRSUs") granted to the Reporting Person. The 2020 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.
F7	These restricted share units vest in equal installments on December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2024.
F8	These restricted share units vest in equal installments on December 31, 2022, December 31, 2023, December 31, 2024 and December 31, 2025.
F9	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.
F10	These restricted share units vest in equal installments on December 15, 2023, December 15, 2024, December 15, 2025 and December 15, 2026.
F11	The shares reported represent an award of performance based restricted share units ("2023 PBRSUs") granted to the Reporting Person. The 2023 PBRSUs will have a performance period beginning January 1, 2023 and ending December 31, 2025 and to the extent earned will vest on February 22, 2026, 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 15, 2024, December 15, 2025, December 15, 2026 and December 15, 2027.
F13	The shares reported represent an award of performance based share units ("2024 PSUs") granted to the Reporting Person. The 2024 PSUs 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.