Thomas Benjamin Curtis Receives Stock Award at Restaurant Brands International Inc (QSR) — SEC Form 4, Feb 26, 2024

SEC Form 4 · No Market Transaction
Stock Award

Compensation grant — no market purchase or sale.

Reporting Owner
TXN 2024-02-23 · FILED 2024-02-26
Equity Position 27.1K sh 23,232 → 27,104
Equity Change +16.7% shares held after vs before
Filing Lag 1 business day within 2-day SEC deadline
Form 4 · Statement of Changes in Beneficial Ownership
Filing Date
2024-02-26
Report Date
2024-02-23
Accession No.
0000950170-24-020554
Accepted At
2024-02-27 02:46 UTC
Reporting Owner
Name Relationship
Thomas Benjamin Curtis CIK 0001804729
Officer
Thomas Benjamin Curtis at Restaurant Brands International Inc Full insider history
Bought (12 mo) —
Sold (12 mo) $6,828,977
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Non-Derivative Securities Transactions
Title Date Type Shares Price Net Total Post-Txn Ownership
Common SharesF1F2 2024-02-23 A - Award/Grant 3,872 A $75.38 +$291,871 27,104.1023 Direct
Derivative Securities Transactions
Title Strike Date Type Shares Price Expiration Underlying Ownership
Restricted Share UnitsF3F4F5F5 2024-02-23 A - Award/Grant 14,523 A $0.00 14,523 Common Shares Direct
Performance Share UnitsF6 2024-02-23 A - Award/Grant 59,697 A $0.00 2027-03-15 59,697 Common Shares Direct
Derivative Holdings
Title Amount Exercise Price Expiration
Restricted Share UnitsF3F7F7 Common Shares 4,121.3388
Performance Share UnitsF8 Common Shares 16,350.7913 2024-09-01
Restricted Share UnitsF3F9F9 Common Shares 5,404.0307
Performance Share UnitsF10 Common Shares 16,212.0922 2024-12-15
Restricted Share UnitsF3F11F11 Common Shares 4,897.266
Performance Share UnitsF12 Common Shares 42,299.4695 2025-02-25
Restricted Share UnitsF3F13F13 Common Shares 7,029.7002
Performance Share UnitsF14 Common Shares 45,681.7031 2026-02-22
Footnotes (14)
F1
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 $75.38 per share ("Investment Shares"). Show more
F2
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 New York Stock Exchange on the trading day immediately preceding the grant date, in this case February 22, 2024. Show more
F3
Each restricted share unit represents a contingent right to receive one common share. Show more
F4
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
F5
These restricted share units vest in equal installments on December 15, 2024, December 15, 2025, December 15, 2026 and December 15, 2027. Show more
F6
The shares reported represent an award of performance based share units ("2024 PSUs") granted to the Reporting Person. The 2024 PSUs 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. Show more
F7
These restricted share units vest in equal installments on December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2024. Show more
F8
The shares reported represent an award of performance based restricted share units ("2021-1 PBRSUs") granted to the Reporting Person. The 2021-1 PBRSUs will have a performance period beginning January 1, 2021 and ending December 31, 2023 and to the extent earned will vest on September 1, 2024, 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
F9
These restricted share units vest in equal installments on December 15, 2022, December 15, 2023 and December 15, 2024. Show more
F10
The shares reported represent an award of performance based restricted share units ("2021-2 PBRSUs") granted to the Reporting Person. The 2021-2 PBRSUs will have a performance period beginning January 1, 2021 and ending December 31, 2023 and to the extent earned will best on December 15, 2024, 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
F11
These restricted share units vest in equal installments on December 31, 2022, December 31, 2023, December 31, 2024 and December 31, 2025. Show more
F12
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
F13
These restricted share units vest in equal installments on December 15, 2023, December 15, 2024, December 15, 2025 and December 15, 2026. Show more
F14
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
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