Form 4: Restaurant Brands International Executive Jill Granat Reports Acquisition of Restricted Share Units

Jill Granat, a Senior EVP at Restaurant Brands International, reported the acquisition of restricted share units and performance share units on April 4, 2024.

Summary

• On April 4, 2024, Jill Granat, Senior EVP, General Counsel and Secretary of Restaurant Brands International Inc. (QSR), reported the acquisition of multiple types of derivative securities.
• These include restricted share units (RSUs) and performance share units (PSUs) with varying vesting schedules and performance periods.
• Granat also holds exchangeable units convertible into common shares, fully vested options to buy common shares at prices of $33.67, $56.92 and $66.31, and directly owns 410,759.3554 common shares.
• The reported transactions involve dividend equivalent rights that accrue on the underlying awards of restricted share units and performance based restricted share units.
• The vesting dates for the restricted share units range from December 31, 2024, to December 15, 2027.
• The performance periods for the performance share units end between December 31, 2021, and February 23, 2027, with vesting occurring between February 21, 2025, and March 15, 2027, depending on performance conditions.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing executive compensation. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about stock ownership and equity awards.

Positives

• The acquisition of restricted share units and performance share units aligns the executive's interests with the long-term performance of the company.
• The vesting schedules of the RSUs and PSUs encourage continued service and achievement of performance goals.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive compensation and potential alignment with company performance.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, stock options, restricted stock units, and performance-based incentives.
• The vesting schedules and performance metrics associated with the RSUs and PSUs are typical components of executive compensation plans designed to retain talent and incentivize performance.
• Comparing the specific terms of Granat's equity awards to those of executives at peer companies like McDonald's (MCD) or Starbucks (SBUX) would provide further context on the competitiveness of the compensation package.

Stakeholder Impact

• The reported transactions provide transparency to shareholders regarding executive compensation and alignment with company performance.
• The vesting schedules and performance metrics associated with the equity awards can incentivize executives to create long-term value for shareholders.

Key Dates