Duncan Fulton Sells $4.89M of Restaurant Brands International Inc (QSR) — SEC Form 4, Feb 26, 2024
Open-Market Net Sale · SEC Form 4
−$4,894,891
Equity position changed by -9.7%
Equity Position
25.4K sh
28,105 → 25,385
Equity Change
-9.7%
shares held after vs before
Filing Lag
0 business days
within 2-day SEC deadline
Form 4 · Statement of Changes in Beneficial Ownership
Reporting Owner
| Name | Relationship |
|---|---|
| Duncan Fulton CIK 0001908102 |
Officer
|
Duncan Fulton at Restaurant Brands International Inc
Full insider history
Bought (12 mo)
—
Sold (12 mo)
$1,065,856
More from this insider at Restaurant Brands International Inc
| 2026-10-06 | Award | — | View |
| 2026-07-09 | Award | — | View |
| 2026-04-06 | Award | — | View |
| 2026-02-27 | Award | — | View |
| 2026-02-24 | Sell | -$695,826 | View |
Non-Derivative Securities Transactions
| Title | Date | Type | Shares | Price | Net Total | Post-Txn | Ownership |
|---|---|---|---|---|---|---|---|
| Common SharesF1 | 2024-02-22 | M - Exercise | 59,489.9963 A | — | 87,595.9521 | Direct | |
| Common SharesF4F5 | 2024-02-23 | A - Award/Grant | 2,135 A | $75.29 | +$160,744 | 57,885.9571 | Direct |
| Common SharesF6 | 2024-02-26 | S - Sale | 32,500 D | $76.44 | -$2,484,300 | 25,385.9571 | Direct |
| Common SharesF2F3 | 2024-02-22 | S - Sale | 31,844.995 D | $75.70 | -$2,410,666 | 55,750.9571 | Direct |
Derivative Securities Transactions
| Title | Strike | Date | Type | Shares | Price | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| Performance Share UnitsF7 | 2024-02-22 | M - Exercise | 59,489.9963 D | $0.00 | 2024-02-22 | 59,489.9963 Common Shares | Direct | |
| Restricted Share UnitsF8F9F10F10 | 2024-02-23 | A - Award/Grant | 9,608 A | $0.00 | 9,608 Common Shares | Direct | ||
| Performance Share UnitsF11 | 2024-02-23 | A - Award/Grant | 19,833 A | $0.00 | 2027-03-15 | 19,833 Common Shares | Direct |
Derivative Holdings
| Title | Amount | Exercise Price | Expiration |
|---|---|---|---|
| Option (Right to Buy)F12 Common Shares | 60,000 | $63.64 | 2028-08-03 |
| Option (Right to Buy) Common Shares | 15,000 | $66.31 | 2030-02-21 |
| Restricted Share UnitsF8F13F13 Common Shares | 3,039.2713 | ||
| Performance Share UnitsF14 Common Shares | 28,879.4306 | 2025-02-21 | |
| Restricted Share UnitsF8F15F15 Common Shares | 1,854.5894 | ||
| Restricted Share UnitsF8F16F16 Common Shares | 6,015.3313 | ||
| Performance Share UnitsF17 Common Shares | 26,191.043 | 2025-02-25 | |
| Restricted Share UnitsF8F18F18 Common Shares | 6,877.8829 | ||
| Performance Share UnitsF19 Common Shares | 22,457.5721 | 2026-02-22 |
Footnotes (19)
- F1
- On February 22, 2024, 59,489.9963 of the Reporting Person's performance based restricted share units vested. Show more
- F2
- Represents shares sold to cover withholding taxes on the settlement of the vesting of the Reporting Person's performance share units. Show more
- F3
- The reported shares were sold in Canadian dollars at a price of CAD$102.14 per share. The purchase price was converted into its U.S. dollar equivalent using the Bank of Canada daily exchange rate on the sale date. Show more
- F4
- The shares reported represent common shares purchased from the Issuer by the Reporting Person upon exercise of his investment rights pursuant to the Issuer's 2023 Bonus Swap Program under its 2023 Omnibus Incentive Plan ("2023 Plan"). The Reporting Person elected to use 50% of his 2023 net bonus to purchase common shares at a purchase price of CAD $101.60 per share ("Investment Shares"). The purchase price was converted into its U.S. dollar equivalent using the Bank of Canada daily exchange rate on February 22, 2024. Show more
- F5
- Pursuant to the Issuer's 2023 Plan, the purchase price of the Investment Shares is calculated based on, the last sales price of a common share of the Issuer on the Toronto Stock Exchange on the trading day immediately preceding the grant date, in this case February 22, 2024. Show more
- F6
- Represents the weighted average price of the share sold. The prices of the shares sold pursuant to the transaction ranged from $76.37 to $76.52 per share. The reported shares were sold in Canadian dollars and was converted into its U.S. dollar equivalent using the Bank of Canada daily exchange rate on the sale date. 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 price. Show more
- F7
- The shares reported represent an award of performance based restricted share units ("2019 PBRSUs") granted to the Reporting Person. The 2019 PBRSUs have a performance period ending December 31, 2021 and will vest on February 22, 2024, which is the fifth anniversary of the grant date. Show more
- F8
- Each restricted share unit represents a contingent right to receive one common share. Show more
- F9
- The Issuer granted the 2024 restricted share units ("2024 RSUs") to the Reporting Person pursuant to the Issuer's 2023 Bonus Swap Program under its 2023 Plan. The Reporting Person elected to use 50% of his 2023 net bonus to purchase Investment Shares and received a matching grant of 2024 RSUs in an amount equal to 50% of his gross bonus, multiplied by a multiple based on the Reporting Person's position level with the Issuer ("RSU Multiplier"), and divided by the purchase price of $75.38 per share. The RSU Multiplier was 2.25 for executive vice president or above. If the Reporting Person sells any of the Investment Shares, he will forfeit all of the 2024 RSUs that have not yet vested. Show more
- F10
- These restricted share units vest in equal installments on December 15, 2024, December 15, 2025, December 15, 2026 and December 15, 2027. Show more
- F11
- The shares reported represent an award of perforamnce based share units ("2024 PSUs") granted to the Reporting Person. The 2024 PSUs will have a performance period beginning Febuary 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 eaned at the end of hte performance period is subject to increase or decrease based on the results of the performance condition. Show more
- F12
- These options are fully vested and exercisable. Show more
- F13
- These restricted share units vest on December 31, 2024. Show more
- F14
- The shares reported represent an award of performance based restricted share units ("2020 PBRSUs") granted to the Reporting Person. The 2020 PBRSUs have a performance period ending December 31, 2021 and will vest on February 21, 2025, which is the fifth anniversary of the grant date. Show more
- F15
- These restricted share units vest in equal installments on December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2024. Show more
- F16
- These restricted share units vest in equal installments on December 31, 2022, December 31, 2023, December 31, 2024 and December 31, 2025. Show more
- F17
- The shares reported represent an award of performance based restricted share units ("2022 PBRSUs") granted to the Reporting Person. The 2022 PBRSUs will have a performance period beginning January 1, 2022 and ending December 31, 2022 and to the extent earned will vest 100% on February 25, 2025. 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. Show more
- F18
- These restricted share units vest in equal installments on December 15, 2023, December 15, 2024, December 15, 2025 and December 15, 2026. Show more
- F19
- The shares reported represent an award of performance based restricted share units ("2023 PBRSUs") granted to the Reporting Person. The 2023 PBRSUs will have a performance period beginning January 1, 2023 and ending December 31, 2025 and to the extent earned will vest on February 22, 2026, 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. Show more
Related filings at Restaurant Brands International Inc
Institutional Holders
13F holders · Jun 30, 2026
581
institutional managers reporting a position
Largest by reported value
- Capital World Investors $3.18B
- Pershing Square Holdco, L.P. $1.87B
- Royal Bank Of Canada $1.47B
5%+ Holders · 13D/G
4 filers
Other insiders at Restaurant Brands International Inc
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