Restaurant Brands (QSR) CEO Joshua Kobza Receives Equity Awards

What happened

• Joshua Kobza, CEO of Restaurant Brands International (QSR), received a package of equity awards on July 7, 2026 totaling approximately 7,654 restricted share units (RSUs) and performance-based RSUs (PBRSUs). All grants were awards (code A) reported at $0.00 per share (derivative awards), meaning Kobza did not buy shares — he received contingent rights to shares.
• These awards include multiple performance-based grants with multi-year performance periods and time‑based RSUs (some vesting in equal annual installments) and associated dividend equivalent rights. Final share delivery depends on satisfaction of performance conditions and vesting schedules; value will be determined by the market price at settlement.

Key details

• Transaction date: July 7, 2026; Form 4 filed July 9, 2026 (no late filing indicated).
• Total granted: ~7,654 RSUs/PBRSUs (aggregated from eight award items); reported price = $0.00 (award).
• Vesting/performance notes: includes 2023–2026 PBRSUs (performance periods ending 2027–2029 with vesting on March 15 of the year following the period), time-based RSUs vesting in annual installments (remaining vest dates include December 15 of 2026–2029 depending on grant), and dividend equivalents that vest with the underlying awards.
• Derivative explanation: each restricted share unit represents a contingent right to receive one common share upon vesting/settlement; some awards reference exchangeable partnership units that can be converted into common shares or cash per partnership terms.
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context for retail investors

• These are grant awards, not open-market purchases or sales — they compensate executives and are contingent on future vesting/performance, so they don't represent an immediate buy/sell signal. Performance-based RSUs depend on meeting performance goals before converting to shares; time-based RSUs vest on set schedules.
• Because the awards are reported at $0.00, the eventual monetary value to the executive will depend on Restaurant Brands’ share price at the time the awards vest or are exchanged.