Restaurant Brands (QSR) executive swaps bonus for shares and new RSU, PSU grants
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Restaurant Brands International Inc. executive Jill Granat reported equity awards and a bonus-related share purchase. On February 25, 2026, she acquired 13,949 Restricted Share Units and 42,145 Performance Share Units at a stated price of $0 per unit as grants.
She also acquired 2,719 common shares at $68.81 per share by using 50% of her 2025 net bonus under the company’s 2025 Bonus Swap Program. Following this transaction, her direct common share holdings increased to 478,845.4063 shares, alongside existing exchangeable units, options, restricted share units, and performance share units that remain outstanding.
Positive
- None.
Negative
- None.
Insider Trade Summary
11 transactions reported
Mixed
11 txns
Insider
Granat Jill
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Share Units | 13,949 | $0.00 | -- |
| Grant/Award | Performance Share Units | 42,145 | $0.00 | -- |
| Grant/Award | Common Shares | 2,719 | $68.81 | $187K |
| holding | Exchangeable Units | -- | -- | -- |
| holding | Option (Right to Buy) | -- | -- | -- |
| holding | Option (Right to Buy) | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units — 13,949 shares (Direct);
Performance Share Units — 42,145 shares (Direct);
Common Shares — 478,845.406 shares (Direct);
Exchangeable Units — 52,965 shares (Direct);
Option (Right to Buy) — 50,000 shares (Direct)
Footnotes (1)
- The shares reported represent common shares purchased from the Issuer by the Reporting Person upon exercise of her investment rights pursuant to the Issuer's 2025 Bonus Swap Program under its 2023 Omnibus Incentive Plan ("2023 Plan"). The Reporting Person elected to use 50% of her 2025 net bonus to purchase common shares at a purchase price of $68.81 per share ("Investment Shares"). Pursuant to the Issuer's 2023 Plan, the purchase price of the Investment Shares is calculated based on the last sales price of common shares of the Issuer reported on the New York Stock Exchange on the trading day immediately preceding the grant date, in this case February 24, 2026. Each Restaurant Brands International Limited Partnership exchangeable unit is convertible, at the Reporting Person's election, into common shares of Restaurant Brands International Inc. or a cash amount equal to a prescribed cash amount determined by reference to the weighted average trading price of Restaurant Brands International Inc.'s common share on the New York Stock Exchange for the 20 consecutive trading days ending on the last business day prior to the exchange date, at the sole discretion of the general partner of Restaurant Brands International Partnership (subject to the consent of the Restaurant Brands International Inc. conflicts committee, in certain circumstances). This conversion right has no expiration date. These options are fully vested and exercisable. Each restricted share unit represents a contingent right to receive one common share. These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026. These restricted share units vest in equal annual installments. The remaining vesting will occur on December 15, 2026 and December 15, 2027. The shares reported represent an award of performance based restricted share units ("2024 PBRSUs") granted to the Reporting Person. The 2024 PBRSUs 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. These restricted share units vest in equal annual installments. The remaining vestings will occur on December 15, 2026, December 15, 2027 and December 15, 2028. The shares reported represent an award of performance based restricted share units ("2025 PBRSUs") granted to the Reporting Person. The 2025 PBRSUs will have a performance period beginning 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. The Issuer granted the 2026 restricted share units ("2026 RSUs") to the Reporting Person pursuant to the Issuer's 2025 Bonus Swap Program under its 2023 Plan. The Reporting Person elected to use 50% of her 2025 net bonus to purchase Investment Shares and received a matching grant of 2026 RSUs in an amount equal to 50% of her gross bonus, multiplied by a multiplier based on the Reporting Person's position level with the Issuer ("RSU Multiplier"), and divided by the purchase price of $68.81 per share. The RSU Multiplier was 2.25 for executive vice presidents and above. If the Reporting Person sells any of the Investment Shares, she will forfeit all of the 2026 RSUs that have not yet vested. These restricted share units vest in equal annual installments. The vestings will occur on December 15, 2026, December 15, 2027, December 15, 2028 and December 15, 2029. The shares reported represent an award of performance based restricted share units ("2026 PBRSUs") granted to the Reporting Person. The 2026 PBRSUs will have a performance period beginning February 25, 2026 and ending February 25, 2029 and to the extent earned will vest on March 15, 2029. 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.
FAQ
What insider transactions did Jill Granat report for QSR on February 25, 2026?
Jill Granat reported acquiring equity awards and shares in QSR. She received 13,949 Restricted Share Units, 42,145 Performance Share Units, and purchased 2,719 common shares, all dated February 25, 2026, increasing her direct ownership stake in the company.
What RSU and PSU grants did Jill Granat receive from Restaurant Brands (QSR)?
She received 13,949 Restricted Share Units and 42,145 Performance Share Units. Both are derivative equity awards that convert into common shares if vesting and, for performance units, performance conditions are satisfied, aligning her compensation more closely with shareholder outcomes.
What is Restaurant Brands’ 2025 Bonus Swap Program mentioned in Jill Granat’s Form 4?
The 2025 Bonus Swap Program lets executives use a portion of their net bonus to buy QSR common shares. In return, they receive matching restricted share units based on their gross bonus, a role-based multiplier, and the share price, increasing equity-linked compensation.