Restaurant Brands International Inc. reported an insider ownership change for Fulton Duncan involving the company’s common shares and related equity awards on July 7, 2026. The Form 4, filed July 9, describes changes tied to stock options, restricted share units, performance-based restricted share units and related dividend equivalent rights. The filing references option awards with exercise prices originally set in Canadian dollars. One option tranche was issued with an exercise price of CAD $82.81, and another with an exercise price of CAD $88.03; the exercise prices reported in the filing reflect their U.S. dollar equivalents on the respective grant dates. At least one referenced option award is described as fully vested and exercisable. The report also covers restricted share units, with each RSU representing a contingent right to receive one Restaurant Brands International common share. Dividend equivalent rights accrued on the underlying RSU awards when dividends were paid on the company’s common shares. Those dividend equivalents vest proportionately with the RSUs and are settled or expire on the same terms as the underlying restricted share units. One RSU award has its remaining vesting scheduled for December 15, 2026, while another has remaining vesting dates on December 15, 2026 and December 15, 2027. In addition, the filing discusses performance-based restricted share units, identified as “2024 PBRSUs,” granted to Duncan. These awards have a performance period running from February 23, 2024 through February 23, 2027. To the extent earned, they are scheduled to vest on March 15, 2027. The final number of common shares deliverable under the 2024 PBRSUs may increase or decrease depending on the outcome of the applicable performance condition. Dividend equivalent rights also accrued on the PBRSU award. The provided filing text does not include the transaction table details such as exact share counts, transaction codes, per-share prices for the reported July 7 activity, or Duncan’s beneficial ownership after the transactions. As a result, the filing is best read as reporting equity-compensation-related ownership changes and accruals—rather than an open-market purchase or sale—affecting Duncan’s holdings in Restaurant Brands International common shares and derivative equity awards.