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Restaurant Brands International Inc.·4

Apr 6, 7:47 PM ET

Granat Jill 4

4 · Restaurant Brands International Inc. · Filed Apr 6, 2026

Research Summary

AI-generated summary of this filing

Updated

Restaurant Brands (QSR) Jill Granat Receives Equity Awards

What Happened
Jill Granat, EVP, General Counsel and Secretary of Restaurant Brands International (QSR), was granted multiple equity awards on April 2, 2026. The filings show a total of approximately 1,340 derivative units (various restricted share units and performance-based restricted share units) granted at $0 per unit (transaction code A — award/grant). These awards are not open-market purchases or sales; they are compensation grants that convert to common shares if and when they vest or performance conditions are met.

Key Details

  • Transaction date: April 2, 2026; Form 4 filed April 6, 2026 (timely filing).
  • Total granted: ~1,339.82 units (reported as individual grants of 34.322; 67.808; 307.599; 65.947; 378.644; 120.73; and 364.77 units).
  • Price: $0.00 per unit (awards/derivative grants).
  • Award types: mix of time-based restricted share units (RSUs), performance-based RSUs (PBRSUs), and related dividend-equivalent rights (derivative awards that convert to common shares upon vesting/settlement).
  • Vesting/performance notes: some PBRSUs have multi-year performance periods (examples: 2024 PBRSUs ending Feb 23, 2027; 2025 PBRSUs ending Feb 28, 2028; 2026 PBRSUs ending Feb 25, 2029) with vesting dates in March of the year following the performance period; other RSUs vest in equal annual installments on December 15 in upcoming years (remaining vesting through 2026–2029 depending on grant). Dividend equivalents accrue and vest with the underlying awards.
  • Shares owned after the transaction: not specified in the provided excerpt.

Context
These are compensation grants (not purchases or sales). RSUs and PBRSUs are contingent rights to receive shares later — performance-based awards only convert to shares if performance goals are met at the end of the performance period; time-based RSUs convert as they vest. Dividend-equivalent rights, where granted, track cash dividends and vest/settle on the same terms as the related RSUs. Such grants are routine executive compensation and do not by themselves indicate the insider is buying or selling shares in the open market.

Insider Transaction Report

Form 4
Period: 2026-04-02
Restaurant Brands International Inc.QSR
Granat Jill
See Remarks
Transactions
  • Award

    Restricted Share Units

    [F3][F4][F5]
    2026-04-02+34.322→ 3,999.819 total
    → Common Shares (34.322 underlying)
  • Award

    Restricted Share Units

    [F3][F4][F6]
    2026-04-02+67.808→ 7,902.255 total
    → Common Shares (67.808 underlying)
  • Award

    Performance Share Units

    [F7][F8]
    2026-04-02+307.599→ 35,847.121 total
    From: 2027-03-15Exp: 2027-03-15→ Common Shares (307.599 underlying)
  • Award

    Restricted Share Units

    [F3][F4][F9]
    2026-04-02+65.947→ 7,685.328 total
    → Common Shares (65.947 underlying)
  • Award

    Performance Share Units

    [F10][F8]
    2026-04-02+378.644→ 44,126.564 total
    From: 2028-03-15Exp: 2028-03-15→ Common Shares (378.644 underlying)
  • Award

    Restricted Share Units

    [F3][F4][F11]
    2026-04-02+120.73→ 14,069.73 total
    → Common Shares (120.73 underlying)
  • Award

    Performance Share Units

    [F12][F8]
    2026-04-02+364.77→ 42,509.77 total
    From: 2029-03-15Exp: 2029-03-15→ Common Shares (364.77 underlying)
Holdings

  • Common Shares

    479,845.406

  • Exchangeable Units

    [F1]
    → Common Shares (52,965 underlying)
    52,965

  • Option (Right to Buy)

    [F2]
    Exercise: $66.31Exp: 2030-02-20→ Common Shares (25,000 underlying)
    25,000
Footnotes (12)
  • [F1]Each Restaurant Brands International Limited Partnership exchangeable unit is convertible, at the Reporting Person's election, into common shares of Restaurant Brands International Inc. or a cash amount equal to a prescribed cash amount determined by reference to the weighted average trading price of Restaurant Brands International Inc.'s common share on the New York Stock Exchange for the 20 consecutive trading days ending on the last business day prior to the exchange date, at the sole discretion of the general partner of Restaurant Brands International Partnership (subject to the consent of the Restaurant Brands International Inc. conflicts committee, in certain circumstances). This conversion right has no expiration date.
  • [F10]The shares reported represent an award of performance based restricted share units ("2025 PBRSUs") granted to the Reporting Person. The 2025 PBRSUs will have a performance period beginning February 28, 2025 and ending February 28, 2028 and to the extent earned will vest on March 15, 2028. 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.
  • [F11]These restricted share units vest in equal annual installments. The vestings will occur on December 15, 2026, December 15, 2027, December 15, 2028 and December 15, 2029.
  • [F12]The shares reported represent an award of performance based restricted shares units ("2026 PBRSUs") granted to the Reporting Person. The 2026 PBRSUs will have a performance period beginning February 25, 2026 and ending February 25, 2029 and to the extent earned will vest on March 15, 2029. 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.
  • [F2]These options are fully vested and exercisable.
  • [F3]Each restricted share unit represents a contingent right to receive one common share.
  • [F4]Represents dividend equivalent rights that accrued on the underlying award of restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted share units to which they relate.
  • [F5]These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026.
  • [F6]These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027.
  • [F7]The shares reported represent an award of performance based restricted share units ("2024 PBRSUs") granted to the Reporting Person. The 2024 PBRSUs will have a performance period beginning February 23, 2024 and ending February 23, 2027 and to the extent earned will vest on March 15, 2027. 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.
  • [F8]Represents dividend equivalent rights that accrued on the underlying award of performance based restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable performance based restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the performance based restricted share units to which they relate.
  • [F9]These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026, December 15, 2027 and December 15, 2028.
Signature
/s/ David Wallace, as Attorney-in-Fact for Jill Granat|2026-04-06

Documents

1 file
  • 4
    wk-form4_1775519234.xmlPrimary

    FORM 4