J Patrick Doyle Sells $2.91M of Restaurant Brands International Inc (QSR) — SEC Form 4, Nov 25, 2024

Open-Market Net Sale · SEC Form 4
−$2,909,181

Equity position changed by +10.7%

Reporting Owner
TXN 2024-11-21 · FILED 2024-11-25
Equity Position 669K sh 604,555 → 669,052
Equity Change +10.7% 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
2024-11-25
Report Date
2024-11-25
Accession No.
0001618756-24-000192
Accepted At
2024-11-25 21:33 UTC
Reporting Owner
Name Relationship
J Patrick Doyle CIK 0001337160
Director Chair
J Patrick Doyle at Restaurant Brands International Inc Full insider history
Bought (12 mo) —
Sold (12 mo) $3,042,920
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All filings by this insider at Restaurant Brands International Inc
Non-Derivative Securities Transactions
Title Date Type Shares Price Net Total Post-Txn Ownership
Common Shares 2024-11-21 M - Exercise 106,549.6846 A $0.00 — 169,052.6322 Direct
Common SharesF1F2 2024-11-21 S - Sale 40,521 D $69.16 -$2,802,574 128,531.6322 Direct
Common SharesF1F3 2024-11-21 S - Sale 1,531 D $69.63 -$106,608 127,000.6322 Direct
Derivative Securities Transactions
Title Strike Date Type Shares Price Expiration Underlying Ownership
Restricted Share UnitsF5F6F6 2024-11-21 M - Exercise 106,549.6846 D $0.00 106,549.6846 Common Shares Direct
Non-Derivative Holdings
Title Shares Held Ownership
Common SharesF4 500,000 Indirect By LLC
Derivative Holdings
Title Amount Exercise Price Expiration
Option (Right to Buy) Common Shares 2,000,000 $66.74 2032-11-20
Performance Share UnitsF7F7F7 Common Shares 799,122.6342
Footnotes (7)
F1
Represents shares sold to cover withholding tax obligations on the settlement of the reported vesting of the Reporting Person's restricted share units. Show more
F2
Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $68.60 to $69.59 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. Show more
F3
Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $69.61 to $69.66 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. Show more
F4
These shares are held by Lodgepole 231 LLC, a Delaware limited liability company ("L231LLC"). The Reporting Person is a member of L231LLC and the Investment Manager with the sole voting and dispositive power over all of the assets of L231LLC, including the shares. The Reporting Person disclaims beneficial ownership of the securities held by L231LLC except to the extent of his pecuniary interest therein. Show more
F5
Each restricted share unit represents a contingent right to receive one common share. Show more
F6
These restricted share units vest in equal installments on November 21, 2023, November 21, 2024, November 21, 2025, November 21, 2026 and November 21, 2027. Show more
F7
The performance based restricted share units ("PBRSUs") will have a performance period beginning November 21, 2022 and ending May 21, 2028 and may be earned from 50% for the threshold performance to 200% for maximum performance, based on meeting performance targets tied to the appreciation of the price of RBI common shares. Show more
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