Granat Jill 4/A

What Happened
Jill Granat, EVP, General Counsel & Secretary of Restaurant Brands International (QSR), purchased 3,719 common shares on February 25, 2026 at $68.81 per share for a total cash outlay of $255,904 under the company’s 2025 Bonus Swap Program. On the same date she was also granted two types of restricted share units (derivatives): 13,949 time‑based RSUs and 42,145 performance‑based RSUs (no immediate cash paid for these awards).

Key Details

• Transaction date: February 25, 2026; Form 4/A filed April 6, 2026 to amend the reported purchase (added 1,000 shares that were originally omitted).
• Purchase: 3,719 common shares @ $68.81 = $255,904 (purchase price calculated from NYSE closing price on 2/24/2026). (Footnotes F1, F2, F3)
• Awards: 13,949 RSUs (time‑based) and 42,145 PBRSUs (performance‑based); both reported as derivatives with $0 immediate cash value. (Footnotes F6, F11, F12, F13, F14)
• Vesting and conditions: time‑based RSUs vest in equal annual installments (Dec 15, 2026–Dec 15, 2029). PBRSUs have a multi‑year performance period (e.g., 2026 PBRSUs: Feb 25, 2026 – Feb 25, 2029) and only convert to shares if performance conditions are met (vesting on March 15, 2029 if earned). (F11, F13, F14)
• Forfeiture condition: if the Reporting Person sells any Investment Shares she purchased, she will forfeit any unvested 2026 RSUs. (F12)
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing status: Amended Form 4 (corrects previously omitted 1,000 purchased shares); amendment suggests an administrative correction rather than a new trading event.

Context

• The cash purchase is a direct buy of common shares under an employee bonus‑swap purchase program (a purchase is a clearer bullish signal than an award, but this purchase was part of a structured bonus program rather than an open‑market stock buy).
• The RSUs and PBRSUs are compensation awards: time‑based RSUs convert to shares on set vesting dates, while PBRSUs depend on future performance metrics and may yield more or fewer shares at the end of the performance period (or none if targets aren’t met).
• Because this filing is an amendment, it corrects previously reported amounts (administrative correction); it does not by itself disclose additional buying/selling beyond the Feb 25, 2026 transactions.