Duncan Fulton Receives Stock Award at Restaurant Brands International Inc (QSR) — SEC Form 4, Jul 10, 2025

SEC Form 4 · No Market Transaction
Stock Award

Compensation grant — no market purchase or sale.

Reporting Owner
Officer
TXN 2025-07-08 · FILED 2025-07-10
Equity Position 36.2K sh 36,215 → 36,215
Filing Lag 2 business days within 2-day SEC deadline
Form 4 · Statement of Changes in Beneficial Ownership
Filing Date
2025-07-10
Report Date
2025-07-10
Accession No.
0001618756-25-000281
Accepted At
2025-07-10 21:03 UTC
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
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Derivative Securities Transactions
Title Strike Date Type Shares Price Expiration Underlying Ownership
Restricted Share UnitsF4F5F6F6 2025-07-08 A - Award/Grant 28.7036 A $0.00 28.7036 Common Shares Direct
Restricted Share UnitsF4F5F7F7 2025-07-08 A - Award/Grant 43.7528 A $0.00 43.7528 Common Shares Direct
Performance Share UnitsF8F9 2025-07-08 A - Award/Grant 214.3235 A $0.00 2026-02-22 214.3235 Common Shares Direct
Restricted Share UnitsF4F5F10F10 2025-07-08 A - Award/Grant 68.7704 A $0.00 68.7704 Common Shares Direct
Restricted Share UnitsF4F5F12F12 2025-07-08 A - Award/Grant 57.9006 A $0.00 57.9006 Common Shares Direct
Performance Share UnitsF11F9 2025-07-08 A - Award/Grant 189.276 A $0.00 2027-03-15 189.276 Common Shares Direct
Performance Share UnitsF13F9 2025-07-08 A - Award/Grant 212.5021 A $0.00 2028-03-15 212.5021 Common Shares Direct
Non-Derivative Holdings
Title Shares Held Ownership
Common Shares 36,215.1586 Direct
Derivative Holdings
Title Amount Exercise Price Expiration
Option (Right to Buy)F1F2 Common Shares 60,000 $63.64 2028-08-03
Option (Right to Buy)F3F2 Common Shares 15,000 $66.31 2030-02-21
Footnotes (13)
F1
The options were issued with an exercise price of CAD $82.81. The reported exercise price represents the U.S. dollar equivalent. Show more
F2
These options are fully vested and exercisable. Show more
F3
The options were issued with an exercise price of CAD $88.03. The reported exercise price represents the U.S. dollar equivalent. Show more
F4
Each restricted share unit represents a contingent right to receive one common share. Show more
F5
Represents dividend equivalent rights that accrued on the underlying award of restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted share units to which they relate. Show more
F6
These restricted share units vest in equal annual installments. The remaining vesting will occur on December 31, 2025. Show more
F7
These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2025 and December 15, 2026. Show more
F8
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
F9
Represents dividend equivalent rights that accrued on the underlying award of performance based restricted share units. Dividend equivalent rights accrue when and as dividends are paid on the common shares underlying the applicable performance based restricted share units and vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted share units to which they relate. Show more
F10
These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2025, December 15, 2026 and December 15, 2027. Show more
F11
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
F12
These restricted share units vest in equal annual installments on December 15, 2025, December 15, 2026, December 15, 2027 and December 15, 2028. Show more
F13
The shares reported represent an award of performance based restricted share units ("2025 PBRSUs") granted to the Reporting Person. The 2025 PBRSUs have a performance period beginning on February 28, 2025 and ending February 28, 2028 and to the extent earned will vest on March 15, 2028. 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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