Axel Schwan - Feb 25, 2025 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Signature
/s/ Michele Keusch, as Attorney-in-Fact for Axel Schwan
Stock symbol
QSR
Transactions as of
Feb 25, 2025
Transactions value $
-$2,044,944
Form type
4
Date filed
2/27/2025, 05:25 PM
Previous filing
Feb 25, 2025
Next filing
Mar 4, 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction QSR Common Shares Options Exercise $0 +59.3K +46.54% $0.00 187K Feb 25, 2025 Direct F1
transaction QSR Common Shares Sale -$2.04M -31.8K -17% $64.38 155K Feb 25, 2025 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
transaction QSR Performance Share Units Options Exercise $0 -43.7K -100% $0.00 0 Feb 25, 2025 Common Shares 43.7K Direct F6
holding QSR Option (Right to Buy) 40K Feb 25, 2025 Common Shares 40K $58.44 Direct F3
holding QSR Option (Right to Buy) 30K Feb 25, 2025 Common Shares 30K $64.75 Direct F3
holding QSR Option (Right to Buy) 56K Feb 25, 2025 Common Shares 56K $66.31 Direct F3
holding QSR Restricted Share Units 3.85K Feb 25, 2025 Common Shares 3.85K Direct F4, F5
holding QSR Restricted Share Units 8.36K Feb 25, 2025 Common Shares 8.36K Direct F4, F7
holding QSR Performance Share Units 78.7K Feb 25, 2025 Common Shares 78.7K Direct F8
holding QSR Restricted Share Units 10.4K Feb 25, 2025 Common Shares 10.4K Direct F4, F9
holding QSR Performance Share Units 54.8K Feb 25, 2025 Common Shares 54.8K Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The 2022 PBRSUs vested at 135.76% of target based on the results of the performance condition.
F2 Represents shares sold to cover withholding taxes on the settlement of the vesting of the Reporting Person's performance share units.
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 in equal installments on December 31, 2022, December 31, 2023, December 31, 2024 and December 31, 2025.
F6 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.
F7 These restricted share units vest in equal installments on December 15, 2023, December 15, 2024, December 15, 2025 and December 15, 2026.
F8 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.
F9 These restricted share units vest in equal installments on December 15, 2024, December 15, 2025, December 15, 2026 and December 15, 2027.
F10 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.