Sami Siddiqui - Mar 19, 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
Stock symbol: QSR
Transactions as of: Mar 19, 2025
Transactions value $: -$851,500
Form type: 4
Date filed: 3/21/2025, 05:34 PM
Previous filing: Mar 12, 2025
Next filing: Apr 8, 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	Gift	$0	-81.6K	-86.44%	$0.00	12.8K	Mar 19, 2025	Direct	F1, F2
transaction	QSR	Common Shares	Gift	$0	+81.6K	+49.15%	$0.00	248K	Mar 19, 2025	By Trust	F1, F2, F3
transaction	QSR	Common Shares	Sale	-$852K	-12.5K	-5.05%	$68.12	235K	Mar 19, 2025	By Trust	F3, F4

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)						80K	Mar 19, 2025	Common Shares	80K	$55.55	Direct	F5
holding	QSR	Option (Right to Buy)						20K	Mar 19, 2025	Common Shares	20K	$66.31	Direct	F5
holding	QSR	Restricted Share Units						2.4K	Mar 19, 2025	Common Shares	2.4K		Direct	F6, F7
holding	QSR	Restricted Share Units						4.74K	Mar 19, 2025	Common Shares	4.74K		Direct	F6, F8
holding	QSR	Performance Share Units						39.3K	Mar 19, 2025	Common Shares	39.3K		Direct	F9
holding	QSR	Restricted Share Units						10.8K	Mar 19, 2025	Common Shares	10.8K		Direct	F6, F10
holding	QSR	Performance Share Units						48K	Mar 19, 2025	Common Shares	48K		Direct	F11
holding	QSR	Restricted Share Units						10K	Mar 19, 2025	Common Shares	10K		Direct	F6, F12
holding	QSR	Performance Share Units						69K	Mar 19, 2025	Common Shares	69K		Direct	F13

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

Explanation of Responses:

Id	Content
F1	The Reporting Person gifted these shares to his revocable trust in an exempt transaction pursuant to Rule 16b-5 under the Securities Exchange Act of 1934, as amended.
F2	On March 12, 2025, the Reporting Person timely filed a Form 4 to report the sale of an aggregate of 12,500 shares, which shares were sold by the revocable trust; however, due to an administrative error, the shares were reported as being sold from the Reporting Person's direct holdings. The number of shares held directly and indirectly through the revocable trust have been adjusted to reflect this correction.
F3	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.
F4	Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $68.00 to $68.35 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.
F5	These options are fully vested and exercisable.
F6	Each restricted share unit represents a contingent right to receive one common share.
F7	These restricted share units vest in equal annual installments. The remaining vesting will occur on December 31, 2025.
F8	These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2025 and December 15, 2026.
F9	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.
F10	These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2025, December 15, 2026 and December 15, 2027.
F11	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.
F12	These restricted share units vest in equal installments on December 15, 2025, December 15, 2026, December 15, 2027 and December 15, 2028.
F13	The shares reported represent an award of performance based restricted share units ("2025 PBRSUs") granted to the Reporting Person. The 2025 PBRSUs will 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.