Form 4: Restaurant Brands International Executive Thomas Curtis Reports Share Transactions Following Vesting of Performance Share Units

Thomas Benjamin Curtis, President of Burger King U.S. and Canada, reports acquisition and disposal of Restaurant Brands International shares related to the vesting of performance-based restricted share units.

Summary

• On February 25, 2025, Thomas Benjamin Curtis, President of Burger King U.S. and Canada, reported transactions involving Restaurant Brands International Inc. (QSR) shares.
• The transactions involved the vesting of 2022 performance-based restricted share units (PBRSUs) at 135.76% of the target, resulting in the acquisition of 59,338.0277 common shares.
• Curtis also disposed of 23,349.5136 shares at a price of $64.38 to cover withholding taxes related to the vesting of the performance share units.
• Following these transactions, Curtis directly owns 94,305.6316 common shares.
• The report also details holdings of restricted share units and performance share units with vesting dates ranging from December 2022 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: This is a routine regulatory filing related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Future Outlook

The number of common shares that will be earned at the end of the performance period 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 share ownership, common in publicly traded companies. It provides transparency into the equity-based compensation structure for key personnel.

Comparison to Industry Standards

• Equity compensation is a standard practice among publicly traded companies to align management's interests with those of shareholders.
• Performance-based restricted share units (PBRSUs) are a common tool used to incentivize executives to achieve specific performance goals.
• The vesting schedules and performance metrics associated with these units are typically benchmarked against industry peers to ensure competitiveness and effectiveness.
• Companies like McDonald's (MCD) and Starbucks (SBUX) also utilize similar equity compensation plans for their executives.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders.
• The vesting of performance-based equity aligns executive interests with shareholder value creation.

Key Dates