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Restaurant Brands International Inc.·4

Feb 27, 5:34 PM ET

PERDUE PETER 4

Research Summary

AI-generated summary

Updated

Restaurant Brands (QSR) Peter Perdue Buys Shares and Receives RSU/PBRSU

What Happened

  • Peter Perdue, President of Popeyes – U.S. & Canada, acquired 721 common shares of Restaurant Brands International at $68.81 each on Feb 25, 2026 (total cost $49,612) and was also granted 2,703 restricted share units (RSUs) and 29,065 performance-based RSUs (PBRSUs) the same day. The share purchase was made under the company’s 2025 Bonus Swap Program; the RSUs and PBRSUs are derivative awards (reported at $0 because they are contingent/right-to-receive shares, not a cash purchase).

Key Details

  • Transaction date(s): February 25, 2026. Purchase price for the 721 shares: $68.81 (purchase price was based on the Feb 24, 2026 NYSE closing price). Total purchase = $49,612. (See footnotes F1, F2.)
  • Awards: 2,703 2026 RSUs (matching grant under Bonus Swap Program) and 29,065 2026 PBRSUs (performance-based). RSUs vest in equal annual installments (Dec 15, 2026–2029). PBRSUs have a performance period Feb 25, 2026–Feb 25, 2029 and, if earned, vest on March 15, 2029. (See F10, F11, F12.)
  • Conditions: RSUs are forfeitable if the purchased Investment Shares are sold before RSU vesting (per F10). PBRSUs are earned/forfeited based on future performance metrics.
  • Shares owned after transaction: Not specified in the provided filing excerpt.
  • Timeliness: Form 4 was filed on Feb 27, 2026 for a Feb 25, 2026 transaction — the filing appears timely (no late filing indicated).
  • Transaction codes: A = Award/Grant/Acquisition (purchase reported as acquisition; RSUs/PBRSUs reported as derivative awards).

Context

  • This was a purchase combined with compensation awards. The 721-share buy is a direct purchase (a concrete purchase signal), while the RSUs and PBRSUs are compensation awards that vest over time or based on performance and do not represent immediately transferable shares.
  • For retail investors, purchases by insiders can be interpreted as a modest personal investment in the company, while RSU/PBRSU grants are standard executive compensation and primarily reflect pay structure rather than immediate market sentiment.