Form 4: QSR Director Sells Shares Under 10b5-1 Plan

A director at Restaurant Brands International Inc. sold 7,000 common shares for approximately $509,361 under a pre-arranged trading plan.

Summary

• Ali Hedayat, a Director of Restaurant Brands International Inc. (QSR), reported the sale of 7,000 common shares.
• The transactions occurred on November 26, 2025, and were made pursuant to a Rule 10b5-1(c) pre-arranged trading plan.
• The first sale involved 2,273 shares at a weighted average price of $72.6543 per share, with prices ranging from $72.63 to $72.655.
• The second sale involved 4,727 shares at a weighted average price of $72.8316 per share.
• The second sale's prices were originally in Canadian dollars (CAD$102.33 to CAD$102.47) and converted to U.S. dollars (USD$72.7873 to USD$72.8869) using a Bank of Canada exchange rate of 0.7113 on the transaction date.
• Following these transactions, Ali Hedayat beneficially owns 18,962 common shares directly.

Sentiment

Score: 5

Explanation: The sentiment is neutral. A director's sale of shares under a pre-arranged 10b5-1 plan is a routine event and does not typically indicate a change in company fundamentals or management's confidence.

Negatives

• A director reduced their direct beneficial ownership in the company by 7,000 common shares.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This is a routine insider transaction report and does not provide specific insights into broader industry trends or competitive landscape. It reflects an individual director's portfolio management decisions.

Stakeholder Impact

• Shareholders: The director's direct ownership stake in the company has decreased, which is a minor change in insider alignment. However, the sale was pre-planned under a 10b5-1 plan, mitigating potential negative interpretations.

Key Dates

Recommendation

A director's sale of shares under a pre-arranged 10b5-1 plan is a routine event and does not typically signal a change in the company's fundamental outlook or warrant a shift in investment recommendation based solely on this filing. The transaction value is not significant enough to impact the overall market perception of Restaurant Brands International Inc.

Keywords

Restaurant Brands International, QSR, Insider Trading, Form 4, Stock Sale, Director, Ali Hedayat, 10b5-1 Plan