SCHWAN AXEL (Pres., Tim Hortons Americas) sold 15.2% of their position (34.94K shares) of RESTAURANT BRANDS INTERNATIONAL INC. on the open market

Open‑market sale worth $2.36M — a significant reduction. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 1 sale

SCHWAN AXEL

Filed: 2/24/2026ACC: 0001594977-26-000009

InsiderSCHWAN AXELCIK 1594977

→

IssuerRESTAURANT BRANDS INTERNATIONAL INC.CIK 1618756

Officer· Pres., Tim Hortons Americas

Since Jan 2020

-51.26K

Net shares

Net seller

$2.36M

Total sold

Open market trades

0B · 1S

Total transactions

65.27K acquired · 116.53K disposed

Non-Derivative Transactions2

Common Shares

Direct

M · Option Exercise

+65.27K

Price / share

—

Trade value

—

% of position

39.6%

2/22/2026

164.65K→229.92K

Common Shares

Direct

S · Sale

−34.94K

Price / share

$67.51

Trade value

$2.36M

% of position

15.2%

2/23/2026

229.92K→194.98K

Total

Net shares

+30.33K

Net value

-$2.36M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Shares Direct	2/22/2026	M · Option Exercise	+65.27K	—	—	39.6%	164.65K	229.92K
Common Shares Direct	2/23/2026	S · Sale	−34.94K	$67.51	$2.36M	15.2%	229.92K	194.98K
Total			+30.33K		-$2.36M

Derivative Transactions1

Performance Share Units

Direct

M · Option Exercise

Converts to

Common Shares

81.59K shares

−81.59K

Strike price

Held after

0.00

Exercisable

—

2/22/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Performance Share Units Direct	Common Shares81.59K shares	2/22/2026	M · Option Exercise	−81.59K		—	0.00

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)8

Option (Right to Buy)

Direct

Underlying security

Common Shares

Underlying shares

30K

Shares owned

30K

Exercise price

64.75

Expiration

—

Exercise window

—

Performance Share Units

Direct

Underlying security

Common Shares

Underlying shares

56.86K

Shares owned

56.86K

Exercise price

Expiration

—

Exercise window

—

Restricted Share Units

Direct

Underlying security

Common Shares

Underlying shares

4.33K

Shares owned

4.33K

Exercise price

Expiration

—

Exercise window

—

Option (Right to Buy)

Direct

Underlying security

Common Shares

Underlying shares

56K

Shares owned

56K

Exercise price

66.31

Expiration

—

Exercise window

—

Option (Right to Buy)

Direct

Underlying security

Common Shares

Underlying shares

40K

Shares owned

40K

Exercise price

58.44

Expiration

—

Exercise window

—

Performance Share Units

Direct

Underlying security

Common Shares

Underlying shares

63.63K

Shares owned

63.63K

Exercise price

Expiration

—

Exercise window

—

Restricted Share Units

Direct

Underlying security

Common Shares

Underlying shares

7.16K

Shares owned

7.16K

Exercise price

Expiration

—

Exercise window

—

Restricted Share Units

Direct

Underlying security

Common Shares

Underlying shares

9.40K

Shares owned

9.40K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

267.39K

Owned

267.39K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Option (Right to Buy) Direct	Common Shares	64.75	—	—	30K	30K
Performance Share Units Direct	Common Shares		—	—	56.86K	56.86K
Restricted Share Units Direct	Common Shares		—	—	4.33K	4.33K
Option (Right to Buy) Direct	Common Shares	66.31	—	—	56K	56K
Option (Right to Buy) Direct	Common Shares	58.44	—	—	40K	40K
Performance Share Units Direct	Common Shares		—	—	63.63K	63.63K
Restricted Share Units Direct	Common Shares		—	—	7.16K	7.16K
Restricted Share Units Direct	Common Shares		—	—	9.40K	9.40K
Total					267.39K	267.39K