Form 4: Restaurant Brands International Executive Axel Schwan Reports Share Transactions

Axel Schwan, President of Tim Hortons Americas, reports the vesting and sale of shares to cover withholding taxes, along with holdings of options and restricted share units.

Summary

• Axel Schwan, President of Tim Hortons Americas, reported transactions involving Restaurant Brands International Inc. shares on February 25, 2025.
• These transactions included the vesting of 59,338.0277 performance-based restricted share units (PBRSUs) and the sale of 31,763.6463 shares at $64.38 to cover withholding taxes.
• Following these transactions, Schwan directly owns 155,075.389 common shares.
• Schwan also holds options to purchase 40,000, 30,000, and 56,000 common shares at exercise prices of $58.44, $64.75, and $66.31, respectively.
• Additionally, Schwan holds various restricted share units (RSUs) and performance share units (PSUs) that vest at different dates in the future.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment. It reflects routine executive compensation practices.

Future Outlook

The reporting person holds various restricted share units and performance share units that will vest in the future, subject to performance conditions.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, providing transparency to investors about insider activity.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading.
• The vesting schedules and performance-based equity awards are common compensation practices among large corporations, including competitors like McDonald's (MCD) and Starbucks (SBUX).

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive compensation and insider activity.
• The vesting of equity awards incentivizes the executive to perform well, potentially benefiting shareholders.

Key Dates