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Restaurant Brands International Inc.·4

Apr 6, 7:47 PM ET

Kobza Joshua 4

Research Summary

AI-generated summary

Updated

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.