Form 4: Restaurant Brands International Executive Jill Granat Acquires Shares and Receives Restricted Share Units

Jill Granat, a Senior EVP at Restaurant Brands International, acquired common shares through a bonus swap program and received restricted and performance-based share units.

Summary

• On February 28, 2025, Jill Granat, a Senior EVP at Restaurant Brands International, acquired 2,612 common shares at $65.19 per share through the company's 2024 Bonus Swap Program.
• Granat now directly owns 455,614.6543 common shares.
• Granat also received 9,796 restricted share units (RSUs) and 42,184 performance-based restricted share units (PBRSUs) on February 28, 2025.
• The RSUs vest in equal installments starting December 15, 2025, and the PBRSUs vest on March 15, 2028, subject to performance conditions over a three-year period ending February 28, 2028.
• Granat also holds exchangeable units convertible into common shares, options to buy 75,000 common shares, and various other RSUs and PBRSUs with different vesting schedules and performance periods.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices, suggesting stability and alignment of interests. The sentiment is neutral to positive as it indicates confidence from the executive in the company's future.

Positives

• The acquisition of shares by a high-ranking executive demonstrates confidence in the company's future.
• The bonus swap program aligns executive compensation with shareholder value.
• The vesting schedules of the RSUs and PBRSUs incentivize long-term performance.

Risks

• The value of the restricted and performance share units is contingent on the company's performance and stock price.
• If the Reporting Person sells any of the Investment Shares, she will forfeit all of the 2025 RSUs that have not yet vested.

Future Outlook

The document outlines future vesting dates for restricted share units and performance-based restricted share units, indicating a long-term incentive structure for the reporting person.

Industry Context

Executive compensation packages often include a mix of salary, bonus, stock options, and restricted stock units to align management's interests with those of shareholders. The bonus swap program is a specific mechanism to encourage stock ownership.

Comparison to Industry Standards

• Restaurant Brands International's executive compensation practices, including the use of bonus swap programs and performance-based equity awards, are generally in line with industry standards for large, publicly traded companies.
• Companies like McDonald's and Starbucks also utilize similar equity-based compensation strategies to incentivize their executives.
• The specific terms of the equity awards, such as vesting schedules and performance metrics, are tailored to the company's specific goals and objectives.

Stakeholder Impact

• The acquisition of shares by an executive can positively influence shareholder confidence.
• The vesting schedules of the RSUs and PBRSUs incentivize long-term performance, potentially benefiting shareholders.
• The bonus swap program aligns executive compensation with shareholder value.

Key Dates