Duncan Fulton - 21 Feb 2025 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Signature
/s/ Michele Keusche, as Attorney-in-Fact for Duncan Fulton
Issuer symbol
QSR
Transactions as of
21 Feb 2025
Net transactions value
-$998,044
Form type
4
Filing time
25 Feb 2025, 17:52:52 UTC
Previous filing
07 Jan 2025
Next filing
27 Feb 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction QSR Common Shares Options Exercise $0 +29,841 +95% $0.000000 61,222 21 Feb 2025 Direct
transaction QSR Common Shares Sale $998,044 -15,974 -26% $62.48 45,248 21 Feb 2025 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 Performance Share Units Options Exercise $0 -29,841 -100% $0.000000 0 21 Feb 2025 Common Shares 29,841 Direct F6
holding QSR Option (Right to Buy) 60,000 21 Feb 2025 Common Shares 60,000 $63.64 Direct F3, F4
holding QSR Option (Right to Buy) 15,000 21 Feb 2025 Common Shares 15,000 $66.31 Direct F5
holding QSR Restricted Share Units 3,108 21 Feb 2025 Common Shares 3,108 Direct F7, F8
holding QSR Performance Share Units 27,063 21 Feb 2025 Common Shares 27,063 Direct F9
holding QSR Restricted Share Units 4,737 21 Feb 2025 Common Shares 4,737 Direct F7, F10
holding QSR Performance Share Units 23,205 21 Feb 2025 Common Shares 23,205 Direct F11
holding QSR Restricted Share Units 7,446 21 Feb 2025 Common Shares 7,446 Direct F7, F12
holding QSR Performance Share Units 20,493 21 Feb 2025 Common Shares 20,493 Direct F13
* 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 The reported shares were sold in Canadian dollars at a price of CAD$88.76 per share. The sale price was converted into its U.S. dollar equivalent using the Bank of Canada daily exchange rate on the sale date.
F3 The options were issued with an exercise price of CAD $82.81. The reported exercise price represents the U.S. dollar equivalent.
F4 These options are fully vested and exercisable.
F5 The options were issued with an exercise price of CAD $88.03. The reported exercise price represents the U.S. dollar equivalent.
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 Each restricted share unit represents a contingent right to receive one common share.
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 perforamnce based share units ("2024 PSUs") granted to the Reporting Person. The 2024 PSUs will have a performance period beginning Febuary 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 eaned at the end of hte performance period is subject to increase or decrease based on the results of the performance condition.