Chief Financial Officer Siddiqui Sami A. exercised 80,000 shares at a strike of $55.55 and sold $5,991,680 worth of shares (80,000 units at $74.90), decreasing direct ownership by 66% to 12,139 units (SEC Form 4)
$QSR
Restaurants
Consumer Discretionary
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Restaurant Brands International Inc. [ QSR ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 03/16/2026 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Shares | 03/16/2026 | M | 40,000 | A | $55.55 | 75,766.257 | D | |||
| Common Shares | 03/16/2026 | S | 40,000 | D | $74.5095(1) | 35,766.257 | D | |||
| Common Shares | 03/17/2026 | M | 40,000 | A | $55.55 | 75,766.257 | D | |||
| Common Shares | 03/17/2026 | S | 40,000 | D | $75.2825(2) | 12,139.257 | D | |||
| Common Shares | 258,855 | I | By Trust(3) | |||||||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Option (Right to Buy) | $55.55 | 03/16/2026 | M | 40,000 | (4) | 02/23/2027 | Common Shares | 40,000 | $0 | 40,000 | D | ||||
| Option (Right to Buy) | $55.55 | 03/17/2026 | M | 40,000 | (4) | 02/23/2027 | Common Shares | 40,000 | $0 | 0 | D | ||||
| Option (Right to Buy) | $66.31 | (4) | 02/20/2030 | Common Shares | 20,000 | 20,000 | D | ||||||||
| Restricted Share Units | (5) | (6) | (6) | Common Shares | 2,459.78 | 2,459.78 | D | ||||||||
| Restricted Share Units | (5) | (7) | (7) | Common Shares | 7,469.0326 | 7,469.0326 | D | ||||||||
| Performance Share Units | (8) | 03/15/2027 | 03/15/2027 | Common Shares | 49,755.3302 | 49,755.3302 | D | ||||||||
| Restricted Share Units | (5) | (9) | (9) | Common Shares | 7,809.1656 | 7,809.1656 | D | ||||||||
| Performance Share Units | (10) | 03/15/2028 | 03/15/2028 | Common Shares | 71,587.1289 | 71,587.1289 | D | ||||||||
| Performance Share Units | (11) | 05/21/2030 | 05/21/2030 | Common Shares | 75,541.5927 | 75,541.5927 | D | ||||||||
| Restricted Share Units | (5) | (12) | (12) | Common Shares | 14,411 | 14,411 | D | ||||||||
| Performance Share Units | (13) | 03/15/2029 | 03/15/2029 | Common Shares | 58,131 | 58,131 | D | ||||||||
| Explanation of Responses: |
| 1. Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction range from $74.35 to $74.69 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. |
| 2. Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction range from $75.10 to $75.465 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. |
| 3. Reflects contribution of 23,627 shares from direct holdings to the revocable trust since the last report. 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. |
| 4. These options are fully vested and exercisable. |
| 5. Each restricted share unit represents a contingent right to receive one common share. |
| 6. These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026. |
| 7. These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027. |
| 8. 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. |
| 9. 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. |
| 10. The shares reported represent an award of performance based restricted share units ("2025-1 PBRSUs") granted to the Reporting Person. The 2025-1 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. |
| 11. The shares reported represent an award of performance based restricted share units ("2025-2 PBRSUs") granted to the Reporting Person. The 2025-2 PBRSUs will have a performance period beginning May 15, 2025 and ending May 21, 2028 and to the extent earned will vest on May 21, 2030. 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. |
| 12. 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. |
| 13. 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. |
| Remarks: |
| /s/ David Wallace, as Attorney-in-Fact for Sami A. Siddiqui | 03/17/2026 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||