Joshua Kobza - 18 Mar 2026 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Reporting relationship: Chief Executive Officer
Issuer ticker: QSR
Reported as of: 18 Mar 2026
Net transaction value: -$15,009,900
SEC form: 4
Accepted by SEC: 18 Mar 2026, 17:11:48 UTC
Prior SEC filing: 27 Feb 2026
Next SEC filing: 06 Apr 2026
Source filing: View source filing
Reporting owner signature: /s/ David Wallace, as Attorney-in-Fact for Joshua Kobza

Key filing fact

Joshua Kobza filed Form 4 for Restaurant Brands International Inc. (QSR) on 18 Mar 2026.

Key facts

This page summarizes Joshua Kobza's Form 4 filing for Restaurant Brands International Inc. (QSR).
3 reported transactions and 10 derivative rows are listed below.
Accepted by SEC: 18 Mar 2026, 17:11.

Change

Previous filing in this sequence was filed on 27 Feb 2026.
Current net transaction value: -$15,009,900.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001574771 Primary reporting owner

Kobza Joshua

Relationship: Chief Executive Officer
Address: C/O RESTAURANT BRANDS INTERNATIONAL INC., 5707 WATERFORD DISTRICT DRIVE, MIAMI
Signature: /s/ David Wallace, as Attorney-in-Fact for Joshua Kobza
Signature date: 18 Mar 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

QSR transaction

Common Shares

Options Exercise

Transaction value
Shares: +200,000
Change %: +21%
Price: $56.92^*
Shares after: 1,160,769
Date: 18 Mar 2026
Ownership: Direct

QSR transaction

Common Shares

Sale

Transaction value: $15,009,900
Shares: -200,000
Change %: -17%
Price: $75.05
Shares after: 960,769
Date: 18 Mar 2026
Ownership: Direct
Footnotes: F1

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

QSR transaction Derivative

Option (Right to Buy)

Options Exercise

Transaction value
Shares: -200,000
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 18 Mar 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 200,000
Exercise price: $56.92
Footnotes: F3

QSR holding Derivative

Exchangeable Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 5,413
Date: 18 Mar 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 5,413
Exercise price
Footnotes: F2

QSR holding Derivative

Restricted Share Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 7,163
Date: 18 Mar 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 7,163
Exercise price
Footnotes: F4, F5

QSR holding Derivative

Performance Share Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 331,656
Date: 18 Mar 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 331,656
Exercise price
Footnotes: F6

QSR holding Derivative

Restricted Share Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 16,428
Date: 18 Mar 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 16,428
Exercise price
Footnotes: F4, F7

QSR holding Derivative

Performance Share Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 127,943
Date: 18 Mar 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 127,943
Exercise price
Footnotes: F8

QSR holding Derivative

Restricted Share Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 15,188
Date: 18 Mar 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 15,188
Exercise price
Footnotes: F4, F9

QSR holding Derivative

Performance Share Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 159,084
Date: 18 Mar 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 159,084
Exercise price
Footnotes: F10

QSR holding Derivative

Restricted Share Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 30,561
Date: 18 Mar 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 30,561
Exercise price
Footnotes: F4, F11

QSR holding Derivative

Performance Share Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 167,126
Date: 18 Mar 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 167,126
Exercise price
Footnotes: F12

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 12 footnotes

Footnote F1

Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction range from $74.58 to $75.41 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 separate price.

Footnote F2

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.

Footnote F3

These options are fully vested and exercisable.

Footnote F4

Each restricted share unit represents a contingent right to receive one common share.

Footnote F5

These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026.

Footnote F6

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 February 22, 2023 and ending May 21, 2028 and to the extent earned will vest on May 21, 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.

Footnote F7

These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027.

Footnote F8

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.

Footnote F9

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.

Footnote F10

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 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.

Footnote 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.

Footnote F12

The shares reported represent an award of performance based restricted shares 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.

We use cookies and similar technologies to provide certain features, enhance the user experience and, if you allow them, measure engagement and deliver advertising. Analytics and marketing storage stay off until you grant consent. By clicking on "Agree and continue", you declare your consent to the use of the selected optional cookies. to update or revoke optional consent for future visits. For more information, see our Privacy Policy .