Housman Jeffrey 4
4 · Restaurant Brands International Inc. · Filed Mar 20, 2026
Research Summary
AI-generated summary of this filing
Restaurant Brands (QSR) Chief People Officer Jeffrey Housman Exercises, Sells
What Happened
Jeffrey Housman, Chief People & Services Officer of Restaurant Brands International (QSR), exercised 20,000 vested options at $55.55 per share (cost $1,111,000) and immediately sold 20,000 common shares in the open market for total proceeds of $1,469,616 on March 20, 2026. The filing also reports a derivative disposition of 20,000 units at $0.00, reflecting the exercised/cancelled derivative instrument. Gross proceeds exceeded the exercise cost by about $358,616 (before taxes, fees or withholding).
Key Details
- Transaction date: March 20, 2026 (filed same day — timely).
- Exercise: 20,000 shares at $55.55 per share = $1,111,000 (transaction code M).
- Sale: 20,000 shares sold at a weighted average $73.48 per share = $1,469,616 (transaction code S); sale prices ranged $73.38–$73.585 (footnote F1).
- Derivative entry: 20,000 units reported disposed at $0.00 (reflects exercised/cancelled derivative).
- Options were fully vested and exercisable (footnote F3).
- Shares owned after the transactions are not reported in the excerpt.
- Footnote F1: SEC staff or holders can request the breakdown of number of shares sold at each separate price.
Context
This looks like a cashless exercise: Housman exercised vested options and immediately sold the resulting shares—common for executives to cover strike price and tax obligations. Such transactions are typically routine and do not, by themselves, indicate a change in insider sentiment.
Insider Transaction Report
Form 4
Housman Jeffrey
See Remarks
Transactions
- Exercise/Conversion
Common Shares
2026-03-20$55.55/sh+20,000$1,111,000→ 182,076.925 total - Sale
Common Shares
[F1]2026-03-20$73.48/sh−20,000$1,469,616→ 162,076.925 total - Exercise/Conversion
Option (Right to Buy)
[F3]2026-03-20−20,000→ 0 totalExercise: $55.55Exp: 2027-02-24→ Common Shares (20,000 underlying)
Holdings
- 431
Exchangeable Units
[F2]→ Common Shares (431 underlying) - 30,000
Option (Right to Buy)
[F3]Exercise: $58.44Exp: 2028-02-23→ Common Shares (30,000 underlying) - 20,000
Option (Right to Buy)
[F3]Exercise: $66.31Exp: 2030-02-21→ Common Shares (20,000 underlying) - 2,580.282
Restricted Share Units
[F4][F5]→ Common Shares (2,580.282 underlying) - 5,322.623
Restricted Share Units
[F4][F6]→ Common Shares (5,322.623 underlying) - 28,431.617
Performance Share Units
[F7]From: 2027-03-15Exp: 2027-03-15→ Common Shares (28,431.617 underlying) - 5,666.571
Restricted Share Units
[F4][F8]→ Common Shares (5,666.571 underlying) - 34,202.693
Performance Share Units
[F9]From: 2028-03-15Exp: 2028-03-15→ Common Shares (34,202.693 underlying) - 7,934
Restricted Share Units
[F4][F10]→ Common Shares (7,934 underlying) - 36,331
Performance Share Units
[F11]From: 2029-03-15Exp: 2029-03-15→ Common Shares (36,331 underlying)
Footnotes (11)
- [F1]Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction range from $73.38 to $73.585 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.
- [F10]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.
- [F11]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 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.
- [F3]These options are fully vested and exercisable.
- [F4]Each restricted share unit represents a contingent right to receive one common share.
- [F5]These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026.
- [F6]These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026 and December 15, 2027.
- [F7]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.
- [F8]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.
- [F9]The shares reported represent an award of performance based restricted share units ("2025 PBRSUs") granted to the Reporting Person. The 2025 PBRSUs will 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.
Signature
/s/ David Wallace, as Attorney-in-Fact for Jeffrey Housman|2026-03-20