Sami A. Siddiqui - 21 Feb 2025 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Role: Chief Financial Officer
Signature: /s/ Michele Keusch, as Attorney-in-Fact for Sami Siddiqui
Issuer symbol: QSR
Transactions as of: 21 Feb 2025
Net transactions value: -$1,152,018
Form type: 4
Filing time: 25 Feb 2025, 17:51:38 UTC
Previous filing: 07 Jan 2025
Next filing: 27 Feb 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	QSR	Common Shares	Options Exercise	$0	+23,875	+88%	$0.000000	51,141	21 Feb 2025	Direct
transaction	QSR	Common Shares	Options Exercise	$0	+23,096	+45%	$0.000000	74,238	21 Feb 2025	Direct
transaction	QSR	Common Shares	Sale	$1,152,018	-18,477	-25%	$62.35	55,761	21 Feb 2025	Direct	F1
holding	QSR	Common Shares						178,589	21 Feb 2025	By Trust	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	Performance Share Units	Options Exercise	$0	-23,875	-100%	$0.000000	0	21 Feb 2025	Common Shares	23,875		Direct	F4
transaction	QSR	Performance Share Units	Options Exercise	$0	-23,096	-100%	$0.000000	0	21 Feb 2025	Common Shares	23,096		Direct	F5
holding	QSR	Option (Right to Buy)						80,000	21 Feb 2025	Common Shares	80,000	$55.55	Direct	F3
holding	QSR	Option (Right to Buy)						20,000	21 Feb 2025	Common Shares	20,000	$66.31	Direct	F3
holding	QSR	Restricted Share Units						2,395	21 Feb 2025	Common Shares	2,395		Direct	F6, F7
holding	QSR	Performance Share Units						43,708	21 Feb 2025	Common Shares	43,708		Direct	F8
holding	QSR	Restricted Share Units						4,745	21 Feb 2025	Common Shares	4,745		Direct	F6, F9
holding	QSR	Performance Share Units						39,335	21 Feb 2025	Common Shares	39,335		Direct	F10
holding	QSR	Restricted Share Units						10,803	21 Feb 2025	Common Shares	10,803		Direct	F6, F11
holding	QSR	Performance Share Units						47,977	21 Feb 2025	Common Shares	47,977		Direct	F12

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

Explanation of Responses:

Id	Content
F1	Represents shares sold to cover withholding taxes on the settlement of the vesting of the Reporting Person's performance share units.
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 fully vested and exercisable.
F4	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.
F5	The shares reported represent an award of performance based restricted share units ("2020-2 PBRSUs") granted to the Reporting Person. The 2020-2 PBRSUs will have a performance period beginning January 1, 2021 and ending December 31, 2021 and will vest on February 21, 2025, which is the fifth anniversary of the grant date.
F6	Each restricted share unit represents a contingent right to receive one common share.
F7	These restricted share units vest in equal installments on December 31, 2022, December 31, 2023, December 31, 2024 and December 31, 2025.
F8	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.
F9	These restricted share units vest in equal installments on December 15, 2023, December 15, 2024, December 15, 2025 and December 15, 2026.
F10	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.
F11	These restricted share units vest in equal installments on December 15, 2024, December 15, 2025, December 15, 2026 and December 15, 2027.
F12	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.