Form 4 for QSR Restaurant Brands International Inc.
Accepted 2023-02-24 00:00:00 ET · period of report 2023-02-22 · accession 0001209191-23-012966 · 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 | 2023-02-24 | 2023-02-22 | QSR | Friesner Jacqueline | See Remarks | A - Grant | $67.75 | +2,093 | 126.4K | +2% | +$141.8K |
| DM | 2023-02-24 | 2023-02-22 | QSR | Friesner Jacqueline | See Remarks | A - Grant | $0.00 | +20.3K | 13.3K | 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 | 2023-02-22 | A | A | 2,093 | $67.75 | 126,447.22 | D | — | — | (F1) The shares reported represent common shares purchased from the Issuer by the Reporting Person upon exercise of her investment rights pursuant to the Issuer's 2022 Bonus Swap Program under its Amended and Restated 2014 Omnibus Incentive Plan ("2014 Plan"). The Reporting Person elected to use 50% of her 2022 net bonus to purchase common shares at a purchase price of $67.75 per share ("Investment Shares"). (F2) Pursuant to the Issuer's 2014 Plan, the purchase price of the Investment Shares is, and the number of matching restricted share units described in footnote 13 below pursuant to the Issuer's 2022 Bonus Swap Program 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 21, 2023. |
| 2 | Derivative | Restricted Share Units | 2023-02-22 | A | A | 6,977 | $0.00 | 6,977 | D | — · — to — | 6,977 Common Shares | (F13) The Issuer granted the 2023 restricted share units ("2023 RSUs") to the Reporting Person pursuant to the Issuer's 2022 Bonus Swap Program under its 2014 Plan. The Reporting Person elected to use 50% of her 2022 net bonus to purchase Investment Shares and received a matching grant of 2023 RSUs in an amount equal to 50% of her 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 $67.75 per share. The RSU Multiplier was 2 for senior vice presidents. If the Reporting Person sells any of the Investment Shares, she will forfeit all of the 2023 RSUs that have not vested. (F5) Each restricted share unit represents a contingent right to receive one common share. (F14) These restricted share units vest in equal installments on December 15, 2023, December 15, 2024, December 15, 2025 and December 15, 2026. |
| 3 | Derivative | Performance Share Units | 2023-02-22 | A | A | 13,284 | $0.00 | 13,284 | D | — · 2026-02-22 to 2026-02-22 | 13,284 Common Shares | (F15) 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 100% 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. |