Taubert Jennifer L 4

What Happened

• Jennifer L. Taubert, a member of McDonald's Board of Directors, was granted phantom stock (derivative awards) on two dates: 96.53 shares on 2026-03-31 at $310.79/share ($30,001) and 110.99 shares on 2026-06-30 at $270.31/share ($30,002). These are grants (transaction code A), not open-market purchases or sales.

Key Details

• Transaction dates and values:
  • 2026-03-31: 96.53 phantom shares @ $310.79 = $30,001 (reported late; see remark)
  • 2026-06-30: 110.99 phantom shares @ $270.31 = $30,002
• Total awarded: 207.52 phantom shares, aggregate value ~$60,003.
• Shares owned after transaction: not reported in the filing.
• Notable footnotes:
  • F1/F2: Each phantom share equals the economic value of one McDonald's common share and was granted under the Board's Deferred Compensation Plan; the award is exempt under Rule 16b-3(d)(1) and represents deferred compensation.
  • F3: Phantom stock will be paid in cash after the director's retirement or termination from the Board.
  • F4: Awards include shares acquired through dividend reinvestment.
• Timeliness: The 3/31/2026 grant was reported late due to an administrative oversight (filing timeliness: L).

Context

• These are derivative, cash-settled director compensation awards (phantom stock). They represent deferred pay tied to McDonald's share value and will be settled in cash after Taubert leaves the Board, so they are routine compensation rather than an immediate bullish purchase signal. The late filing appears administrative and was disclosed in the remarks.