Form 4: Restaurant Brands International Executive Thiago T. Santelmo Reports Changes in Beneficial Ownership

Thiago T. Santelmo, President, International at Restaurant Brands International, reports acquisition of restricted share units and performance share units on April 4, 2025.

Summary

• On April 4, 2025, Thiago T. Santelmo, President, International of Restaurant Brands International Inc. [QSR], reported changes in beneficial ownership.
• The report includes the acquisition of restricted share units (RSUs) and performance share units (PSUs).
• Santelmo directly owns 59,406.1569 common shares.
• He also holds exchangeable units convertible into common shares, options to buy common shares at various prices and vesting schedules, and various RSUs and PSUs with different vesting dates and performance periods.

Sentiment

Score: 6

Explanation: The document is a neutral report of stock ownership changes. The sentiment is moderately positive as it reflects continued investment by the executive in the company's stock.

Positives

• The granting of RSUs and PSUs 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 commitment from the executive.

Future Outlook

The number of common shares that will be earned from the performance share units is subject to increase or decrease based on the results of the performance condition.

Industry Context

This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies like Restaurant Brands International.

Comparison to Industry Standards

• Equity compensation is a standard practice among publicly traded companies to align executive interests with shareholder value.
• Companies like McDonald's (MCD) and Starbucks (SBUX) also utilize stock options, 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 are typically designed to incentivize long-term growth and profitability.

Stakeholder Impact

• The granting of equity-based compensation can positively impact shareholders by aligning management's interests with long-term company performance.
• Employees may view the executive's increased stake in the company as a positive sign of confidence in its future prospects.

Key Dates

Keywords

beneficial ownership, Form 4, Restaurant Brands International, QSR, Thiago T. Santelmo, restricted share units, performance share units, insider trading