Form 4 for QSR Restaurant Brands International Inc.
Accepted 2024-02-26 00:00:00 ET · period of report 2024-02-23 · accession 0000950170-24-020554 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2024-02-26 | 2024-02-23 | QSR | CURTIS THOMAS BENJAMIN | See Remarks | A - Grant | $75.38 | +3,872 | 27.1K | +17% | +$291.9K |
| DM | 2024-02-26 | 2024-02-23 | QSR | CURTIS THOMAS BENJAMIN | See Remarks | A - Grant | $0.00 | +74.2K | 14.5K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Shares | 2024-02-23 | A | A | 3,872 | $75.38 | 27,104.10 | D | — | — | (F1) The shares reported represent common shares purchased from the Issuer by the Reporting Person upon exercise of his investment rights pursuant to the Issuer's 2023 Bonus Swap Program under its 2023 Omnibus Incentive Plan ("2023 Plan"). The Reporting Person elected to use 50% of his 2023 net bonus to purchase common shares at a purchase price of $75.38 per share ("Investment Shares"). (F2) Pursuant to the Issuer's 2023 Plan, the purchase price of the Investment Shares is calculated based on, the last sales price of a common share of the Issuer on the New York Stock Exchange on the trading day immediately preceding the grant date, in this case February 22, 2024. |
| 2 | Derivative | Performance Share Units | 2024-02-23 | A | A | 59,697 | $0.00 | 59,697 | D | — · 2027-03-15 to 2027-03-15 | 59,697 Common Shares | (F6) 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. |
| 3 | Derivative | Restricted Share Units | 2024-02-23 | A | A | 14,523 | $0.00 | 14,523 | D | — · — to — | 14,523 Common Shares | (F4) The Issuer granted the 2024 restricted share units ("2024 RSUs") to the Reporting Person pursuant to the Issuer's 2023 Bonus Swap Program under its 2023 Plan. The Reporting Person elected to use 50% of his 2023 net bonus to purchase Investment Shares and received a matching grant of 2024 RSUs in an amount equal to 50% of his gross bonus, multiplied by a multiple based on the Reporting Person's position level with the Issuer ("RSU Multiplier"), and divided by the purchase price of $75.38 per share. The RSU Multiplier was 2.25 for executive vice president or above. If the Reporting Person sells any of the Investment Shares, he will forfeit all of the 2024 RSUs that have not yet vested. (F3) Each restricted share unit represents a contingent right to receive one common share. (F5) These restricted share units vest in equal installments on December 15, 2024, December 15, 2025, December 15, 2026 and December 15, 2027. |