Kobza Joshua 4

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

Research Summary

AI-generated summary of this filing

Updated Apr 6, 2026

Restaurant Brands (QSR) CEO Joshua Kobza Receives Awards

What Happened
Joshua Kobza, CEO of Restaurant Brands International (QSR), received multiple equity awards on April 2, 2026 totaling 7,401.417 units. All awards were granted at $0.00 (derivative awards), consisting of restricted share units (RSUs), performance-based RSUs (PBRSUs), dividend-equivalent rights and exchangeable partnership units. These awards represent contingent rights to receive common shares (or, for exchangeable units, shares or cash per conversion rules) subject to vesting and performance conditions.

Key Details

Transaction date: April 2, 2026; Form 4 filed April 6, 2026 (timely filing).
Total units granted: 7,401.417 (aggregate of eight grants listed); reported price per unit = $0.00 (award/grant).
Award types (from footnotes): 2023–2026 PBRSUs (performance periods vary), time-based RSUs (annual installment vesting Dec 15 of various years), dividend equivalent rights that vest with the underlying units, and exchangeable partnership units convertible into common shares or a cash amount.
Vesting / performance highlights:
- PBRSUs have multi-year performance periods (examples: 2024 PBRSUs: 2/23/24–2/23/27, vest March 15, 2027; 2025 PBRSUs: 2/28/25–2/28/28, vest March 15, 2028; 2026 PBRSUs: 2/25/26–2/25/29, vest March 15, 2029).
- Some RSUs vest in equal annual installments (remaining vesting on Dec 15 in specified years up to 2029).
- Dividend equivalents accrue and vest proportionately with the related units.
Shares owned after the transaction: not provided in the excerpt supplied.

Context

These are award grants (not open-market purchases or sales). RSUs/PBRSUs are contingent — PBRSUs only convert to shares if performance targets are met at the end of the performance period; time-based RSUs vest on set dates. Exchangeable partnership units can be converted into common shares or a cash amount determined by a weighted-average price formula.
Because these are compensation awards rather than purchases, they are routine for executives and do not by themselves indicate immediate buying/selling sentiment.

Insider Transaction Report

Form 4

Period: 2026-04-02

Restaurant Brands International Inc.QSR

Kobza Joshua

Chief Executive Officer

Transactions

Award
Restricted Share Units
[F2][F3][F4]
2026-04-02+61.994→ 7,224.652 total
→ Common Shares (61.994 underlying)
Award
Performance Share Units
[F5][F6]
2026-04-02+2,870.522→ 334,526.252 total
From: 2028-05-21Exp: 2028-05-21→ Common Shares (2,870.522 underlying)
Award
Restricted Share Units
[F2][F3][F7]
2026-04-02+142.183→ 16,569.768 total
→ Common Shares (142.183 underlying)
Award
Performance Share Units
[F8][F6]
2026-04-02+1,107.366→ 129,050.715 total
From: 2027-03-15Exp: 2027-03-15→ Common Shares (1,107.366 underlying)
Award
Restricted Share Units
[F2][F3][F9]
2026-04-02+131.454→ 15,319.399 total
→ Common Shares (131.454 underlying)
Award
Performance Share Units
[F10][F6]
2026-04-02+1,376.892→ 160,460.899 total
From: 2028-03-15Exp: 2028-03-15→ Common Shares (1,376.892 underlying)
Award
Restricted Share Units
[F2][F3][F11]
2026-04-02+264.509→ 30,825.509 total
→ Common Shares (264.509 underlying)
Award
Performance Share Units
[F12][F6]
2026-04-02+1,446.497→ 168,572.497 total
From: 2029-03-15Exp: 2029-03-15→ Common Shares (1,446.497 underlying)

Holdings

Common Shares
960,769.242
Exchangeable Units
[F1]
→ Common Shares (5,413 underlying)
5,413

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 shares 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 Limited 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 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]Each restricted share unit represents a contingent right to receive one common share.
[F3]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.
[F4]These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026.
[F5]The shares reported represent an award of performance based restricted share units ("2023 PBRSUs") granted to the Reporting Person. The 2023 PBRSUs will have a performance period beginning February 22, 2023 and ending May 21, 2028 and to the extent earned will vest on May 21, 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.
[F6]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.
[F7]These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027.
[F8]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.
[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 Joshua Kobza|2026-04-06

Documents

1 file

4
wk-form4_1775519253.xmlPrimary
FORM 4