Restaurant Brands International Inc.: management transactions · United States · SEC (Form 4)

About Restaurant Brands International Inc.

Restaurant Brands International Inc. (NYSE: QSR) is a multinational quick-service restaurant group headquartered in Miami, Florida, in the United States. For European investors, RBI is best understood as a franchised restaurant platform built around globally recognized brands rather than a company that mainly operates company-owned restaurants. The group was formed in 2014 through the merger of Burger King and Tim Hortons, and later expanded its portfolio with Popeyes Louisiana Kitchen and Firehouse Subs. That combination created a multi-brand, multi-market structure designed to generate value through franchising, international expansion, and disciplined operating execution. RBI’s business model is heavily franchise-based. Its earnings profile is driven primarily by franchise royalties, fees linked to restaurant development, and in some cases supply chain and product sales to franchisees. The company’s four core brands are Tim Hortons, Burger King, Popeyes, and Firehouse Subs. Tim Hortons remains an iconic Canadian coffee and breakfast brand, Burger King is the most globally recognized banner in the portfolio, Popeyes offers a differentiated position in chicken, and Firehouse Subs strengthens RBI’s exposure to the sandwich category. This mix gives RBI diversified consumer exposure and multiple growth levers across dayparts, formats, and geographies. In the competitive landscape, RBI faces major global peers such as McDonald’s, Yum! Brands, Domino’s, and Starbucks, depending on the market and category. Its competitive edge comes from brand equity, scale, and the ability to attract franchise partners rather than from operating a large owned-store base. According to company disclosures, RBI has more than 33,000 restaurants across more than 120 countries and territories, supported by nearly $47 billion in annual system-wide sales. That scale places it among the largest quick-service restaurant groups in the world. RBI has also been pursuing selective international growth, including a partnership structure for Burger King in China. Recent highlights include the company’s 2026 Investor Day in Miami, where management reaffirmed its long-term growth algorithm through 2028 and its capital-return plans, alongside the release of the annual Restaurant Brands for Good sustainability report. The first-quarter 2026 results and related investor events underscore RBI’s current focus on execution, restaurant growth, and shareholder returns. For investors, RBI remains a defensive-leaning consumer name, but one that is still exposed to franchisee health, interest rates, foreign exchange, and the company’s ability to keep expanding and revitalizing its core brands.