Form 4: Restaurant Brands International Executive Thomas Curtis Reports Share Transactions
SEC Form 4
Thomas Benjamin Curtis, President of Burger King U.S. and Canada, reports the vesting of performance-based restricted share units and subsequent sale of shares to cover withholding taxes.
Summary
- On September 1, 2024, Thomas Benjamin Curtis, President of Burger King U.S. and Canada, had 16,611.0901 performance-based restricted share units vest.
- Following the vesting, Mr. Curtis sold 6,536.464 shares on September 3, 2024, at a weighted average price of $68.6276 per share to cover withholding taxes.
- The prices of the shares sold ranged from $68.51 to $68.77 per share.
- Mr. Curtis also holds various restricted share units and performance share units with vesting dates ranging from December 2024 to March 2027.
- These units are subject to performance conditions that may increase or decrease the number of common shares earned.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing insider transactions, with no inherent positive or negative sentiment.
Future Outlook
The reporting person holds various restricted share units and performance share units that will vest over the next several years, subject to performance conditions.
Industry Context
This filing is a routine disclosure of insider transactions and provides insight into executive compensation structures within Restaurant Brands International.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, and restricted stock units.
- The vesting schedules and performance-based criteria are typical for aligning executive incentives with company performance.
- Comparable companies like McDonald's (MCD) and Starbucks (SBUX) also utilize similar equity-based compensation plans for their executives.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- The filing provides transparency regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 09/01/2024 | 16,611.0901 performance based restricted share units vested |
| 09/03/2024 | 6,536.464 shares sold at a weighted average price of $68.6276 |
| 09/04/2024 | Date of filing |
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