Form 4: Restaurant Brands International Executive Awarded Share Units

Jeffrey W. Klein, President of Popeyes-US & Canada, received restricted and performance-based share units in Restaurant Brands International Inc.

Summary

• Jeffrey W. Klein, President of Popeyes-US & Canada, reported changes in beneficial ownership of Restaurant Brands International Inc. securities.
• The report details the acquisition of restricted share units (RSUs) and performance share units (PSUs) on October 4, 2024.
• These units represent a contingent right to receive common shares of Restaurant Brands International Inc.
• The RSUs vest at various dates, including December 31, 2024, and in installments on December 15 of 2023, 2024, 2025, 2026 and 2027.
• The PSUs have performance periods ending December 31, 2024 (vesting February 25, 2025), December 31, 2025 (vesting February 22, 2026), and February 23, 2027 (vesting March 15, 2027), with the number of shares earned subject to performance conditions.
• Klein directly owns 6,801.2391 common shares.
• Following the reported transactions, Klein holds 3,623.3133 restricted share units, 2,394.37 restricted share units, 10,871.0271 performance share units, 4,952.1427 restricted share units, 10,137.5046 performance share units and 22,677.4338 performance share units.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed neutrally to positively as it aligns management interests with shareholders. The sentiment is slightly positive due to the incentive structure.

Positives

• The granting of share units aligns the executive's interests with those of the shareholders.
• Performance-based share units incentivize the executive to achieve specific performance goals.

Future Outlook

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.

Industry Context

Granting share-based compensation is a common practice in the restaurant industry to incentivize executives and align their interests with shareholders.

Comparison to Industry Standards

• Companies like McDonald's (MCD) and Starbucks (SBUX) also utilize restricted stock units and performance-based equity awards as part of their executive compensation packages.
• The vesting schedules and performance metrics associated with these awards vary depending on the company's specific goals and objectives.

Stakeholder Impact

• Shareholders: The granting of share units can have a positive impact on shareholder value if the executive's performance improves as a result.
• Employees: The granting of share units to executives can motivate other employees by demonstrating that the company values performance.

Key Dates