PETER PERDUE - 25 Feb 2026 Form 4 Insider Report for Restaurant Brands International Inc. (QSR)

Role
President, Popeyes-US & Canada
Signature
/s/ David Wallace, Attorney-in-Fact for Peter Perdue
Issuer symbol
QSR
Transactions as of
25 Feb 2026
Net transactions value
+$49,612
Form type
4
Filing time
27 Feb 2026, 17:34:37 UTC
Previous filing
24 Feb 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
PERDUE PETER President, Popeyes-US & Canada C/O RESTAURANT BRANDS INTERNATIONAL INC, 5707 WATERFORD DISTRICT DRIVE, MIAMI /s/ David Wallace, Attorney-in-Fact for Peter Perdue 27 Feb 2026 0002096961

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction QSR Common Shares Award $49,612 +721 +1.7% $68.81 43,627 25 Feb 2026 Direct F1, 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 Restricted Share Units Award $0 +2,703 $0.000000 2,703 25 Feb 2026 Common Shares 2,703 Direct F4, F10, F11
transaction QSR Performance Share Units Award $0 +29,065 $0.000000 29,065 25 Feb 2026 Common Shares 29,065 Direct F12
holding QSR Option (Right to Buy) 10,000 25 Feb 2026 Common Shares 10,000 $64.75 Direct F3
holding QSR Option (Right to Buy) 12,000 25 Feb 2026 Common Shares 12,000 $66.31 Direct F3
holding QSR Restricted Share Units 499 25 Feb 2026 Common Shares 499 Direct F4, F5
holding QSR Restricted Share Units 2,166 25 Feb 2026 Common Shares 2,166 Direct F4, F6
holding QSR Performance Share Units 12,083 25 Feb 2026 Common Shares 12,083 Direct F7
holding QSR Restricted Share Units 2,236 25 Feb 2026 Common Shares 2,236 Direct F4, F8
holding QSR Performance Share Units 13,521 25 Feb 2026 Common Shares 13,521 Direct F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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 2025 Bonus Swap Program under its 2023 Omnibus Incentive Plan ("2023 Plan"). The Reporting Person elected to use 50% of his 2025 net bonus to purchase common shares at a purchase price of $68.81 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 common shares of the Issuer reported on the New York Stock Exchange on the trading day immediately preceding the grant date, in this case February 24, 2026.
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 annual installments. The remaining vesting will occur on December 15, 2026.
F6 These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027.
F7 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.
F8 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.
F9 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 on 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.
F10 The Issuer granted the 2026 restricted share units ("2026 RSUs") to the Reporting Person pursuant to the Issuer's 2025 Bonus Swap Program under its 2023 Plan. The Reporting Person elected to use 50% of his 2025 net bonus to purchase Investment Shares and received a matching grant of 2026 RSUs in an amount equal to 50% of his gross bonus, multiplied by a multiplier based on the Reporting Person's position level with the Issuer ("RSU Multiplier"), and divided by the purchase price of $68.81 per share. The RSU Multiplier was 2.25 for executive vice presidents and above. If the Reporting Person sells any of the Investment Shares, he will forfeit all of the 2026 RSUs that have not yet vested.
F11 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.
F12 The shares reported represent an award of performance based restricted share 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.