Welcome to our dedicated page for Restaurant Brand SEC filings (Ticker: QSR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Restaurant Brands International Inc. filings document operating results, governance and capital-structure matters for a global quick service restaurant company built around Tim Hortons, Burger King, Popeyes and Firehouse Subs. Its 8-K reports furnish quarterly and annual earnings releases, supplemental operating metrics, comparable sales, system-wide sales and segment information for brand and international operations.
Proxy materials cover board and shareholder-voting matters, while material-event filings address agreements, capital actions and other corporate disclosures, including dividends, repurchases and changes affecting restaurant holdings or brand-market structures.
Pershing Square and affiliates updated their ownership disclosure in Restaurant Brands International Inc. through Amendment No. 5 to Schedule 13D. The reporting group now reports beneficial ownership of 27,136,716 shares of Common Stock, representing about 7.8% of the company’s outstanding shares as of April 30, 2026.
The amendment adds Pershing Square USA, Ltd. as a reporting person and explains that its investment was funded from its own working capital, raised through an initial public offering and preferred share private placements. The filing details that 2,652,778 shares are tied to over-the-counter forward purchase contracts with Nomura and 357,841 shares are issuable upon exchange of partnership units.
Restaurant Brands International delivered much stronger results for the quarter ended March 31, 2026. Total revenues rose to $2.26 billion from $2.11 billion, driven by 6.2% system-wide sales growth and higher franchise and property revenues, especially in the International and Burger King segments.
Net income from continuing operations doubled to $445 million from $223 million, helped by foreign-exchange gains and a sharply lower effective tax rate of 7.9%. Diluted earnings per share increased to $0.97 from $0.49. Adjusted Operating Income improved to $610 million, with notable contributions from Tim Hortons, Burger King and International.
The company ended the quarter with $1.01 billion in cash and $13.23 billion of long-term debt, continued paying a quarterly dividend of $0.65 per share, and repurchased shares under its $1 billion authorization while remaining in compliance with all debt covenants.
Restaurant Brands International reported solid first-quarter 2026 results, with consolidated system-wide sales of $11.51 billion, up from $10.50 billion, and comparable sales growth of 3.2%. Total revenues rose to $2,264 million from $2,109 million.
Income from operations increased to $606 million, a 39.3% rise, while net income from continuing operations reached $445 million versus $223 million. Diluted EPS from continuing operations nearly doubled to $0.97 from $0.49.
Adjusted metrics were strong: Adjusted Operating Income was $610 million with 10.7% organic growth, Adjusted EBITDA was $706 million, and Adjusted EPS was $0.86, up from $0.75 with 14.6% nominal and 11.0% organic growth. Free cash flow improved to $169 million from $54 million, and net leverage declined to 4.2x from 4.7x. The company resumed share repurchases in March, expects to repurchase $500 million in 2026, and reiterated its goal of 8%+ organic Adjusted Operating Income growth for 2026.
Restaurant Brands International Inc. (QSR) received an updated ownership disclosure from Pershing Square entities and William A. Ackman. Amendment No. 4 to their Schedule 13D reflects share sales on April 27, 2026 and a subsequent reorganization of Pershing Square’s ownership structure on April 28, 2026.
After these changes, the reporting group may be deemed to beneficially own 22,623,938 shares of Common Stock, including 22,266,097 shares and 357,841 shares issuable upon exchange of Exchangeable Units. This stake represents approximately 6.5% of QSR’s Common Stock, based on 347,282,917 shares outstanding as of April 8, 2026 plus the exchangeable units. The amendment also updates the list of reporting persons, confirms they share voting and dispositive power over these shares, and notes that certain ManagementCo members hold small direct positions, each under 0.01% of the class.
Restaurant Brands International Inc. is asking shareholders to vote at its June 3, 2026 hybrid annual meeting on three items: electing ten directors, a non-binding advisory vote on executive pay, and appointing KPMG LLP as auditors through the 2027 annual meeting.
The proxy describes a majority-independent board with an Executive Chair and a Lead Independent Director, formal governance guidelines, board committees overseeing audit, compensation, nominations and conflicts, and a majority-voting standard for director elections. It highlights skills-based board composition, diversity metrics, and active shareholder engagement, including the shift to hybrid meetings.
For 2025, RBI reports global system-wide sales of $46.8 billion, 2.4% global comparable sales growth, 2.9% net restaurant growth, income from operations of $2.2 billion, diluted EPS from continuing operations of $2.63, adjusted diluted EPS of $3.69, adjusted operating income of $2.6 billion and free cash flow of $1.4 billion.
The company emphasizes a pay-for-performance philosophy: for 2025, about 94% of the CEO’s target total direct compensation and about 90% for other named executive officers were performance- and/or equity-based, with no hedging, short-selling or pledging allowed for employees, and a clawback policy covering incentive-based compensation.
Housman Jeffrey reported acquisition or exercise transactions in this Form 4 filing.
Restaurant Brands International Inc. executive Jeffrey Housman reported equity compensation awards rather than market trades. On April 2, 2026, he received several grants of restricted share units and performance share units, each representing rights to receive common shares in the future, some tied to multi‑year performance periods and specific vesting dates. Following these awards, he directly holds common shares, exchangeable units and fully vested stock options in addition to the new units disclosed.
CURTIS THOMAS BENJAMIN reported acquisition or exercise transactions in this Form 4 filing.
Restaurant Brands International Inc. executive Thomas Benjamin Curtis, President of Burger King US & Canada, reported multiple equity awards on April 2, 2026. He received grants of restricted share units and performance share units that each represent the right to receive one common share at vesting.
The filing shows several RSU awards, including 21.7299, 67.3444, 63.1731 and 66.7224 restricted share units, plus performance-based awards of 553.6783, 550.7587 and 503.1312 performance share units. These performance-based units have performance periods running through 2027, 2028 and 2029 with vesting dates in March of those years.
Dividend equivalent rights accrue on both RSU and performance-based awards as dividends are paid and vest on the same schedule as the underlying units. After these transactions, Curtis directly holds 102216.2029 common shares, along with sizable outstanding RSU and performance share unit balances that vest over several future years.
Restaurant Brands International executive Axel Schwan, President of Tim Hortons US & Canada, reported multiple equity compensation awards rather than market trades. On April 2, 2026, he received several grants of restricted share units and performance share units, each convertible into an equal number of common shares.
Key awards include 492.1585, 550.7587 and 767.2684 performance share units that have performance periods running into 2027, 2028 and 2029 and, if earned, vest in March of those years. Following these awards, he also directly holds 197,481.9293 common shares and fully vested stock options over 40,000, 30,000 and 56,000 shares at exercise prices between $58.44 and $66.31.
Restaurant Brands International Inc. executive Peter Perdue, President of Popeyes US & Canada, reported multiple equity-based compensation grants on April 2, 2026. He received awards of restricted share units and performance share units, each representing the right to receive an equal number of common shares at no exercise price.
The performance share units have performance periods ending between February 23, 2027 and February 25, 2029, with vesting dates on March 15, 2027, March 15, 2028 and March 15, 2029 to the extent earned. Related restricted share units vest in equal annual installments through dates ranging from December 15, 2026 to December 15, 2029. No open‑market purchases or sales were reported, and Perdue continues to hold 43,626.7121 common shares directly, along with fully vested options over additional common shares.