Kobza Joshua 4

What Happened

• Joshua Kobza, CEO of Restaurant Brands International (QSR), purchased 8,149 common shares on Feb 25, 2026 at $68.81 per share for a cash cost of $560,733.
• On the same date he received two types of derivative awards: 30,561 restricted share units (RSUs) and 167,126 performance-based RSUs (PBRSUs), both reported as acquisitions (derivative awards) on the Form 4.

Key Details

• Transaction date: February 25, 2026; Form 4 filed Feb 27, 2026 (timely).
• Purchase: 8,149 shares @ $68.81 = $560,733 (reported per footnote F1/F2 as purchase under the 2025 Bonus Swap Program).
• Awards: 30,561 RSUs (matching grant) and 167,126 PBRSUs (performance‑based award). RSUs/PBRSUs reported at $0 because they are contingent/derivative awards.
• Vesting & conditions (not exhaustive): matching RSUs vest in equal annual installments (remaining vesting dates include Dec 15 in future years) and the PBRSUs have multi-year performance periods (vesting contingent on performance at the end of the stated period). If Kobza sells the purchased investment shares, he may forfeit unvested matching RSUs (per footnote F12). See footnotes F1, F2, F11–F14 for full plan details.
• Shares owned after the transaction: not specified in the excerpt provided.

Context

• This was a purchase funded by Kobza electing to use 50% of his 2025 net bonus to buy shares (a common "bonus-swap" purchase) and simultaneous award of matching RSUs and longer-term performance RSUs. Purchases like this indicate the executive invested personal bonus proceeds into company stock; the RSUs and PBRSUs are compensation awards that vest over time and/or based on performance, so they are not immediately tradable.