SCHWAN AXEL (Pres., Tim Hortons Americas) sold 21.5% of their position (57.57K shares) of RESTAURANT BRANDS INTERNATIONAL INC. on the open market

Open‑market sale worth $4.67M — a significant reduction. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 1 sale

SCHWAN AXEL

Filed: 9/9/2026ACC: 0001594977-26-000020

InsiderSCHWAN AXELCIK 1594977

→

IssuerRESTAURANT BRANDS INTERNATIONAL INC.CIK 1618756

Officer· Pres., Tim Hortons Americas

Since Jan 2020

-57.57K

Net shares

Net seller

$4.67M

Total sold

Open market trades

0B · 1S

Total transactions

70K acquired · 127.57K disposed

Non-Derivative Transactions3

Common Shares

Direct

M · Option Exercise

+40K

Price / share

$58.44

Trade value

$2.34M

% of position

20.3%

9/4/2026

197.48K→237.48K

Common Shares

Direct

M · Option Exercise

+30K

Price / share

$64.75

Trade value

$1.94M

% of position

12.6%

9/4/2026

237.48K→267.48K

Common Shares

Direct

S · Sale

−57.57K

Price / share

$81.14

Trade value

$4.67M

% of position

21.5%

9/4/2026

267.48K→209.91K

Total

Net shares

+12.43K

Net value

-$391.62K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Shares Direct	9/4/2026	M · Option Exercise	+40K	$58.44	$2.34M	20.3%	197.48K	237.48K
Common Shares Direct	9/4/2026	M · Option Exercise	+30K	$64.75	$1.94M	12.6%	237.48K	267.48K
Common Shares Direct	9/4/2026	S · Sale	−57.57K	$81.14	$4.67M	21.5%	267.48K	209.91K
Total			+12.43K		-$391.62K

Derivative Transactions2

Option (Right to Buy)

Direct

M · Option Exercise

Converts to

Common Shares

40K shares

−40K

Strike price

58.44

Held after

0.00

Exercisable

—

9/4/2026

Option (Right to Buy)

Direct

M · Option Exercise

Converts to

Common Shares

30K shares

−30K

Strike price

64.75

Held after

0.00

Exercisable

—

9/4/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Option (Right to Buy) Direct	Common Shares40K shares	9/4/2026	M · Option Exercise	−40K	58.44	—	0.00
Option (Right to Buy) Direct	Common Shares30K shares	9/4/2026	M · Option Exercise	−30K	64.75	—	0.00

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)8

Performance Share Units

Direct

Underlying security

Common Shares

Underlying shares

64.75K

Shares owned

64.75K

Exercise price

Expiration

—

Exercise window

—

Restricted Share Units

Direct

Underlying security

Common Shares

Underlying shares

11.44K

Shares owned

11.44K

Exercise price

Expiration

—

Exercise window

—

Performance Share Units

Direct

Underlying security

Common Shares

Underlying shares

57.86K

Shares owned

57.86K

Exercise price

Expiration

—

Exercise window

—

Restricted Share Units

Direct

Underlying security

Common Shares

Underlying shares

9.56K

Shares owned

9.56K

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

—

Restricted Share Units

Direct

Underlying security

Common Shares

Underlying shares

7.28K

Shares owned

7.28K

Exercise price

Expiration

—

Exercise window

—

Restricted Share Units

Direct

Underlying security

Common Shares

Underlying shares

4.41K

Shares owned

4.41K

Exercise price

Expiration

—

Exercise window

—

Performance Share Units

Direct

Underlying security

Common Shares

Underlying shares

90.21K

Shares owned

90.21K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

301.53K

Owned

301.53K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Performance Share Units Direct	Common Shares		—	—	64.75K	64.75K
Restricted Share Units Direct	Common Shares		—	—	11.44K	11.44K
Performance Share Units Direct	Common Shares		—	—	57.86K	57.86K
Restricted Share Units Direct	Common Shares		—	—	9.56K	9.56K
Option (Right to Buy) Direct	Common Shares	66.31	—	—	56K	56K
Restricted Share Units Direct	Common Shares		—	—	7.28K	7.28K
Restricted Share Units Direct	Common Shares		—	—	4.41K	4.41K
Performance Share Units Direct	Common Shares		—	—	90.21K	90.21K
Total					301.53K	301.53K