0000950170-24-020540.txt : 20240226
0000950170-24-020540.hdr.sgml : 20240226
20240226213946
ACCESSION NUMBER: 0000950170-24-020540
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240222
FILED AS OF DATE: 20240226
DATE AS OF CHANGE: 20240226
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Shear David Chan
CENTRAL INDEX KEY: 0001842463
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36786
FILM NUMBER: 24681696
MAIL ADDRESS:
STREET 1: C/O RESTAURANT BRANDS INTERNATIONAL INC.
STREET 2: 5707 BLUE LAGOON DRIVE
CITY: MIAMI
STATE: FL
ZIP: 33126
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Restaurant Brands International Inc.
CENTRAL INDEX KEY: 0001618756
STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812]
ORGANIZATION NAME: 07 Trade & Services
IRS NUMBER: 000000000
STATE OF INCORPORATION: Z4
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 130 KING STREET WEST
STREET 2: SUITE 300
CITY: TORONTO
STATE: A6
ZIP: M5X 1E1
BUSINESS PHONE: (905) 845-6511
MAIL ADDRESS:
STREET 1: 130 KING STREET WEST
STREET 2: SUITE 300
CITY: TORONTO
STATE: A6
ZIP: M5X 1E1
FORMER COMPANY:
FORMER CONFORMED NAME: 9060669 Canada Inc.
DATE OF NAME CHANGE: 20141028
FORMER COMPANY:
FORMER CONFORMED NAME: 1011773 B.C. Unlimited Liability Co
DATE OF NAME CHANGE: 20140905
4
1
ownership.xml
4
X0508
4
2024-02-22
0001618756
Restaurant Brands International Inc.
QSR
0001842463
Shear David Chan
C/O RESTAURANT BRANDS INTERNATIONAL INC.
5707 BLUE LAGOON DRIVE
MIAMI
FL
33126
false
true
false
false
President, International
false
Common Shares
2024-02-22
4
M
false
59495.9509
A
270031.0974
D
Common Shares
2024-02-22
4
S
false
28141.5848
75.55
D
241889.5126
D
Common Shares
2024-02-23
4
A
false
3713
75.38
A
245602.5126
D
Performance Share Units
2024-02-22
4
M
false
59495.9509
0.00
D
2024-02-22
2024-02-22
Common Shares
59495.9509
0
D
Restricted Share Units
2024-02-23
4
A
false
13925
0.00
A
Common Shares
13925
13925
D
Performance Share Units
2024-02-23
4
A
false
59697
0.00
A
2027-03-15
2027-03-15
Common Shares
59697
59697
D
Exchangeable Units
Common Shares
2545
2545
D
Option (Right to Buy)
66.31
2025-02-21
2030-02-20
Common Shares
25000
25000
D
Restricted Share Units
Common Shares
6968.775
6968.775
D
Performance Share Units
2025-02-21
2025-02-21
Common Shares
28882.5226
28882.5226
D
Performance Share Units
2025-02-21
2025-02-21
Common Shares
22352.397
22352.397
D
Restricted Share Units
Common Shares
2963.684
2963.684
D
Restricted Share Units
Common Shares
10170.5035
10170.5035
D
Performance Share Units
2025-02-25
2025-02-25
Common Shares
63449.735
63449.735
D
Restricted Share Units
Common Shares
16998.5868
16998.5868
D
Performance Share Units
2026-02-22
2026-02-22
Common Shares
76136.1718
76136.1718
D
On February 22, 2024, 59,495.9509 of the Reporting Person's performance based restricted share units vested.
Represents shares sold to cover withholding taxes on the settlement of the vesting of the Reporting Person's performance share units.
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 2023 Bonus Swap Program under its 2023 Omnibus Incentive Plan ("2023 Plan"). The Reporting Person elected to use 50% of his 2023 net bonus to purchase common shares at a purchase price of $75.38 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 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 22, 2024.
The shares reported represent an award of performance based restricted share units ("2019 PBRSUs") granted to the Reporting Person. The 2019 PBRSUs have a performance period ending December 31, 2021 and will vest on February 22, 2024, which is the fifth anniversary of the grant date.
Each restricted share unit represents a contingent right to receive one common share.
The Issuer granted the 2024 restricted share units ("2024 RSUs") to the Reporting Person pursuant to the Issuer's 2023 Bonus Swap Program under its 2023 Plan. The Reporting Person elected to use 50% of his 2023 net bonus to purchase Investment Shares and received a matching grant of 2024 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 $75.38 per share. The RSU Multiplier was 2.25 for executive vice president or above. If the Reporting Person sells any of the Investment Shares, he will forfeit all of the 2024 RSUs that have not yet vested.
These restricted share units vest in equal installments on December 15, 2024, December 15, 2025, December 15, 2026 and December 15, 2027.
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.
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 shares 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 Limited Partnership (subject to the consent of the Restaurant Brands International Inc. conflicts committee, in certain circumstances). This conversion right has no expiration date.
These restricted share units vest on December 31, 2024.
The shares reported represent an award of performance based restricted share units (the "2020-1 PBRSUs") granted to the Reporting Person. The 2020-1 PBRSUs have a performance period ending December 31, 2021 adn will vest on February 21, 2025, which is the fifth anniversary of the grant date.
The shares reported represent an award of performance based restricted share units ("2020-2 PBRSUs") granted to the Reporting Person. The 2020-2 PBRSUs will have a performance period beginning January 1, 2021 and ending December 31, 2021 and to the extent earned will vest 100% on February 21, 2025, which has been selected as the vesting date of the grant. 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 installments on December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2024.
These restricted share units vest in equal installments on December 31, 2022, December 31, 2023, December 31, 2024 and December 31, 2025.
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, 2022 and to the extent earned will vest 100% 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.
These restricted share units vest in equal installments on December 15, 2023, December 15, 2024, December 15, 2025 and December 15, 2026.
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.
/s/ Michele Keusch, as Attorney-in-Fact for David Chan Shear
2024-02-26