Thomas Benjamin Curtis Receives Stock Award at Restaurant Brands International Inc (QSR) — SEC Form 4, Feb 24, 2023

SEC Form 4 · No Market Transaction
Stock Award

Compensation grant — no market purchase or sale.

Reporting Owner
TXN 2023-02-22 · FILED 2023-02-24
Equity Position 14.8K sh 12,345 → 14,768
Equity Change +19.6% shares held after vs before
Filing Lag 2 business days within 2-day SEC deadline
Form 4 · Statement of Changes in Beneficial Ownership
Filing Date
2023-02-24
Report Date
2023-02-22
Accession No.
0001209191-23-012965
Accepted At
2023-02-25 00:55 UTC
Reporting Owner
Name Relationship
Thomas Benjamin Curtis CIK 0001804729
President
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 2023-02-22 A - Award/Grant 2,423 A $67.75 +$164,158 14,768.3657 Direct
Derivative Securities Transactions
Title Strike Date Type Shares Price Expiration Underlying Ownership
Restricted Share UnitsF3F10F11F11 2023-02-22 A - Award/Grant 9,086 A $0.00 9,086 Common Shares Direct
Performance Share UnitsF12 2023-02-22 A - Award/Grant 44,280 A $0.00 2026-02-22 44,280 Common Shares Direct
Derivative Holdings
Title Amount Exercise Price Expiration
Restricted Share UnitsF3F4F4 Common Shares 7,989.7583
Performance Share UnitsF5 Common Shares 15,849.0815 2024-09-01
Restricted Share UnitsF3F6F6 Common Shares 10,476.4255
Performance Share UnitsF7 Common Shares 15,714.6383 2024-12-15
Restricted Share UnitsF3F8F8 Common Shares 7,120.4967
Performance Share UnitsF9 Common Shares 41,001.5473 2025-02-25
Footnotes (12)
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 2022 Bonus Swap Program under its Amended and Restated 2014 Omnibus Incentive Plan ("2014 Plan"). The Reporting Person elected to use 50% of his 2022 net bonus to purchase common shares at a purchase price of $67.75 per share ("Investment Shares"). Show more
F2
Pursuant to the Issuer's 2014 Plan, the purchase price of the Investment Shares is, and the number of matching restricted share units described in footnote 10 below pursuant to the Issuer's 2022 Bonus Swap Program 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 21, 2023. Show more
F3
Each restricted share unit represents a contingent right to receive one common share. Show more
F4
These restricted share units vest in equal installments on December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2024. Show more
F5
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
F6
These restricted share units vest in equal installments on December 15, 2022, December 15, 2023 and December 15, 2024. Show more
F7
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 vest 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
F8
These restricted share units vest in equal installments on December 31, 2022, December 31, 2023, December 31, 2024 and December 31, 2025. Show more
F9
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, 2024 and to the extent earned will vest 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
F10
The Issuer granted the 2023 restricted share units ("2023 RSUs") to the Reporting Person pursuant to the Issuer's 2022 Bonus Swap Program under its 2014 Plan. The Reporting Person elected to use 50% of his 2022 net bonus to purchase Investment Shares and received a matching grant of 2023 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 $67.75 per share. The RSU Multiplier was 2.25 for executive vice presidents and above. If the Reporting Person sells any of the Investment Shares, he will forfeit all of the 2023 RSUs that have not yet vested. Show more
F11
These restricted share units vest in equal installments on December 15, 2023, December 15, 2024, December 15, 2025 and December 15, 2026. Show more
F12
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
Remarks

President, Burger King US & Canada

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