Form 4: Restaurant Brands Exec Jill Granat Trades Shares

Restaurant Brands International Inc. (QSR) executive Jill Granat reported transactions involving company stock, including the acquisition of restricted and performance share units.

Summary

• Jill Granat, EVP, General Counsel and Secretary of Restaurant Brands International Inc., reported several transactions related to company securities on July 7, 2026.
• These transactions include the acquisition of restricted share units (RSUs) and performance-based restricted share units (PBRSUs) with various vesting schedules and performance periods.
• Granat also holds vested options to buy common shares and has exchangeable units convertible into common shares.
• The filing details dividend equivalent rights accrued on RSUs and PBRSUs, which vest proportionally with the underlying awards.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports routine executive stock transactions and equity awards rather than significant financial performance or strategic shifts.

Positives

• Acquisition of performance-based restricted share units indicates potential future value tied to company performance.
• Vested options suggest a prior incentive that is now exercisable, reflecting past compensation or awards.
• The reporting person, Jill Granat, holds a significant number of common shares directly, indicating substantial direct ownership.

Negatives

• The filing primarily details routine executive compensation and stock transactions, with no immediate negative financial implications apparent.

Risks

• The value of RSUs and PBRSUs is subject to market fluctuations and the achievement of performance conditions, posing a risk to the ultimate value received by the reporting person.
• The conversion of exchangeable units is subject to the discretion of the general partner and potential consent from a conflicts committee, introducing a degree of uncertainty.

Future Outlook

The filing details future vesting dates for various equity awards, including restricted share units and performance-based restricted share units, with performance periods extending up to February 2029 and vesting dates up to March 2029.

Management Comments

• The filing is a statement of changes in beneficial ownership and does not contain direct management comments or quotes.
• The signature indicates that David Wallace acted as an Attorney-in-Fact for Jill Granat.

Industry Context

StockSavvy.ai notes that this Form 4 filing for Restaurant Brands International (QSR) is typical for executive compensation disclosures within the quick-service restaurant industry, reflecting standard practices for incentivizing and retaining key personnel through equity awards.

Stakeholder Impact

• Shareholders: The transactions reflect executive compensation and potential future dilution if equity awards are exercised or vested, but do not indicate immediate changes in share structure or voting power.
• Employees: The filing is specific to executive compensation and does not directly impact general employee compensation or benefits.
• Management: The filing details the equity holdings and transactions of a key executive, Jill Granat.

Next Steps

• Vesting of restricted share units and performance share units according to their respective schedules.
• Potential exercise of vested stock options.
• Potential conversion of exchangeable units into common shares or cash.

Key Dates

Keywords

Form 4, SEC Filing, Restaurant Brands International, QSR, Jill Granat, Stock Transaction, Executive Compensation, Restricted Share Units, Performance Share Units, Beneficial Ownership