Form 4: Restaurant Brands International Executive Sells Shares
Insider Transaction (Form 4)
Axel Schwan, Pres., Tim Hortons US & Canada of Restaurant Brands International Inc., sold 57,574 shares of common stock on September 4, 2026 for $81.14 per share.
Summary
- Option exercise/conversion: acquired 40,000 Common Shares at $58.44 ($2,337,600) on September 4, 2026; holds 237,482 after (Direct).
- Option exercise/conversion: acquired 30,000 Common Shares at $64.75 ($1,942,500) on September 4, 2026; holds 267,482 after (Direct).
- Open-market sale: disposed of 57,574 Common Shares at $81.14 ($4,671,716) on September 4, 2026; holds 209,908 after (Direct).
- Option exercise/conversion: disposed of 40,000 Option (Right to Buy) on September 4, 2026 (Direct).
- Option exercise/conversion: disposed of 30,000 Option (Right to Buy) on September 4, 2026 (Direct).
Sentiment
Score: 3
Explanation: StockSavvy.ai views this as a mildly negative signal: an insider sold $4,671,716 of stock on the open market.
Insider Transactions
Axel Schwan — Officer (Pres., Tim Hortons US & Canada)
| Date | Transaction | Security | Shares | Price | Value | Held After |
|---|---|---|---|---|---|---|
| 2026-09-04 | Option exercise/conversion | Common Shares | 40,000 | $58 | $2.3M | 237,481.929 |
| 2026-09-04 | Option exercise/conversion | Common Shares | 30,000 | $65 | $1.9M | 267,481.929 |
| 2026-09-04 | Open-market sale | Common Shares | 57,574 | $81 | $4.7M | 209,907.929 |
| 2026-09-04 | Option exercise/conversion | Option (Right to Buy) | 40,000 | — | — | 0 |
| 2026-09-04 | Option exercise/conversion | Option (Right to Buy) | 30,000 | — | — | 0 |
Key Dates
| Date | Description |
|---|---|
| 2026-09-04 | Option exercise/conversion (40,000 shares) |
| 2026-09-04 | Option exercise/conversion (30,000 shares) |
| 2026-09-04 | Open-market sale (57,574 shares) |
| 2026-09-04 | Option exercise/conversion (40,000 shares) |
| 2026-09-04 | Option exercise/conversion (30,000 shares) |
Keywords
insider transaction, Form 4, QSR, Restaurant Brands International Inc., bearish, Axel Schwan
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