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Held by 136 of 2,417 reporting institutions (92th percentile) — extremely crowded.
Data as of Q3 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 27 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MCD | $182.1B | 21.5× | 17.3× | 6.8× | 3.7% | — | 31.9% | -478% | 22.0% | 3.1× | 1,221 |
| YUM | $42.2B | 27.9× | 14.9× | 5.1× | 8.8% | 69.8% | 19.0% | -21.3% | -21.4% | -0.2× | 409 |
| CMG | $39.7B | 27.4× | 17.1× | 3.3× | 5.4% | — | 12.9% | 54.3% | 54.3% | -0.1× | 337 |
| QSR | $25.5B | 31.1× | 16.1× | 2.7× | 12.2% | — | 11.4% | 29.6% | 6.4% | 5.5× | 136 |
| DRI | $24.9B | 21.2× | 12.6× | 1.9× | 9.4% | 20.3% | 9.1% | 54.7% | 26.6% | 1.0× | 315 |
| YUMC | $15.2B | 18.0× | 8.5× | 1.3× | 4.4% | — | 7.9% | 17.3% | 17.2% | -0.3× | 149 |
| ARMK | $14.7B | 45.9× | 15.4× | 0.8× | 6.4% | — | 1.8% | 10.4% | 3.8% | 3.8× | 120 |
| TXRH | $12.0B | 30.0× | 17.4× | 2.0× | 9.4% | — | 7.0% | 28.4% | 28.4% | -0.2× | 132 |
| EAT | $9.2B | 20.2× | 10.9× | 1.6× | 7.9% | — | 8.4% | 110% | 110% | -0.1× | 110 |
| CAVA | $6.9B | 109.7× | 51.4× | 5.9× | 22.4% | — | 5.4% | 8.2% | 8.2% | -2.2× | 98 |
| CAKE | $5.6B | 37.0× | 20.4× | 1.5× | 4.7% | — | 4.0% | 34.0% | 13.9% | 1.4× | 76 |
| WING | $3.9B | 23.4× | 24.2× | 5.6× | 11.4% | — | 25.0% | -23.7% | 36.9% | 5.0× | 73 |
| CBRL | $1.6B | 51.8× | 17.4× | 0.5× | -4.7% | 69.1% | 1.0% | 6.6% | 3.9% | 2.7× | 48 |
| ARCO | $1.5B | 6.8× | 4.2× | 0.3× | 4.7% | 98.1% | 4.5% | 27.5% | 11.1% | 1.4× | 25 |
| BJRI | $1.3B | 29.3× | 11.4× | 1.0× | 3.1% | 74.7% | 3.5% | 13.3% | 10.8% | 0.5× | 31 |
| BH | $1.2B | — | 20.5× | 3.1× | 9.2% | 59.2% | -9.5% | -7.2% | -4.9% | -0.4× | 13 |
| BLMN | $915M | 106.9× | 7.7× | 0.2× | 0.1% | 70.2% | 0.2% | 2.5% | 0.7% | 3.4× | 35 |
| FWRG | $772M | 40.4× | 11.0× | 0.6× | 20.3% | — | 1.6% | 3.1% | 2.1% | 2.8× | 32 |
| PZZA | $619M | 20.9× | 7.2× | 0.3× | -0.3% | — | 1.5% | -6.9% | 11.3% | 3.8× | 47 |
| LOCO | $468M | 17.1× | 8.8× | 0.9× | 3.6% | — | 5.4% | 9.1% | 7.7% | 0.8× | 23 |
| DIN | $445M | 31.7× | — | 0.5× | 8.2% | 40.9% | 1.9% | -6.2% | 1.9% | — | 26 |
| KRUS | $424M | — | 40.6× | 1.5× | 18.9% | — | -0.7% | -0.8% | -0.8% | -5.1× | 16 |
| NATH | $418M | 21.0× | 14.2× | 2.6× | 9.4% | 34.3% | 12.4% | -141% | 59.0% | 0.8× | 22 |
| PTLO | $360M | 18.4× | 9.4× | 0.5× | 3.0% | — | 2.6% | 4.1% | 2.4% | 4.5× | 33 |
| PLAY | $283M | — | 4.9× | 0.1× | -1.4% | 85.7% | -2.3% | -53.4% | -3.0% | 4.1× | 20 |
Peers = companies sharing QSR's sector (Retail-Eating Places) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
What the company returns to shareholders — and whether it's covered by cash.
The dividend takes 76% of free cash flow — sustainable but with limited headroom. Last year: $1.11B dividends + $0 buybacks = $1.11B returned on $1.45B FCF.
9 consecutive years of dividend increases · 4%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 6%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $72.41 today, the market must believe free cash flow compounds 12.9%/yr for a decade (off $1.32B on the 3-yr avg basis).
On the basis ($1.15B) the requirement is 14.8%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 12.9% is more optimistic than its 9-yr track record.
Default is 10.0% — this company's computed cost of capital (published default — this company's cost of capital could not be computed), the same rate the Analysis tab discounts at.
2-stage DCF · 0.35B shares (market data) · net debt $13.28B
mean 8.0% · volatility σ 41% · implied rate exceeded in 2/9 yrs
Central path = implied 12.9%/yr growth; shaded band = ±1σ (41%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
$32.0M of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.43B 100.0% | $8.41B 100.0% | $7.02B 100.0% | $6.50B 100.0% | $5.74B 100.0% | $4.97B 100.0% | $5.60B 100.0% | $5.36B 100.0% | $4.58B 100.0% | $4.15B 100.0% |
| Cost of Revenue | — | — | $2.44B 34.7% | $2.31B 35.5% | $1.89B 32.9% | $1.61B 32.4% | $1.81B 32.4% | $1.82B 33.9% | $1.85B 40.4% | $1.73B 41.7% |
| Cost of Products | — | — | — | — | — | — | — | — | $1.85B 40.4% | $1.73B 41.7% |
| Selling, General & Admin | $741.0M 7.9% | $733.0M 8.7% | $704.0M 10.0% | $631.0M 9.7% | $484.0M 8.4% | $1.26B 25.4% | $1.26B 22.6% | $1.21B 22.7% | $416.0M 9.1% | $319.0M 7.7% |
| Total Operating Expenses | $7.23B 76.7% | $5.99B 71.2% | $4.97B 70.8% | $4.61B 70.8% | $3.86B 67.3% | $3.55B 71.4% | $3.60B 64.2% | $3.44B 64.2% | $2.84B 62.1% | $2.48B 59.8% |
| Operating Income | $2.20B 23.3% | $2.42B 28.8% | $2.05B 29.2% | $1.90B 29.2% | $1.88B 32.7% | $1.42B 28.6% | $2.01B 35.8% | $1.92B 35.8% | $1.74B 37.9% | $1.67B 40.2% |
| Interest & Investment Income | $31.0M 0.3% | $39.0M 0.5% | $40.0M 0.6% | $7.0M 0.1% | $3.0M 0.1% | $9.0M 0.2% | $20.0M 0.4% | $15.0M 0.3% | $26.0M 0.6% | $4.0M 0.1% |
| Pretax Income | $1.68B 17.9% | $1.81B 21.5% | $1.45B 20.7% | $1.36B 21.0% | $1.36B 23.7% | $816.0M 16.4% | $1.45B 25.9% | $1.38B 25.8% | $1.10B 24.1% | $1.20B 28.9% |
| Income Tax Expense | $483.0M 5.1% | $364.0M 4.3% | -$265.0M -3.8% | -$117.0M -1.8% | $110.0M 1.9% | $66.0M 1.3% | $341.0M 6.1% | $238.0M 4.4% | -$134.0M -2.9% | $244.0M 5.9% |
| Net Income | $1.07B 11.4% | $1.45B 17.2% | $1.72B 24.5% | $1.48B 22.8% | $1.25B 21.8% | $750.0M 15.1% | $1.11B 19.8% | $1.14B 21.4% | $1.24B 27.0% | $956.0M 23.1% |
| Per Share | ||||||||||
| EPS (Basic) | $2.36 | $3.21 | $3.82 | $3.28 | $2.71 | $1.61 | $2.40 | $2.46 | $2.64 | $1.48 |
| EPS (Diluted) | $2.35 | $3.18 | $3.76 | $3.25 | $2.69 | $1.60 | $2.37 | $2.42 | $2.54 | $1.45 |
| Weighted Avg Shares (Basic) | 329.0M | 319.0M | 312.0M | 307.0M | 310.0M | 302.0M | 268.0M | 249.0M | 237.0M | 233.0M |
| Weighted Avg Shares (Diluted) | 457.0M | 454.0M | 456.0M | 455.0M | 464.0M | 468.0M | 469.0M | 473.0M | 477.0M | 470.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-30
Where each multiple sits in its own 12-yr range · 71th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 12-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 30% against ROIC 6% — 23% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 31.9% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 33.9 | 32.4 | 32.4 | 32.9 | 35.5 | 34.7 | — | — |
| SG&A | 22.7 | 22.6 | 25.4 | 8.4 | 9.7 | 10.0 | 8.7 | 7.9 |
| Operating Income | 35.8 | 35.8 | 28.6 | 32.7 | 29.2 | 29.2 | 28.8 | 23.3 |
| Income Tax | 4.4 | 6.1 | 1.3 | 1.9 | -1.8 | -3.8 | 4.3 | 5.1 |
| Net Income | 21.4 | 19.8 | 15.1 | 21.8 | 22.8 | 24.5 | 17.2 | 11.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on QSR: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns 5.53pts above its cost of capital, but margins are compressing.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 11.4% | 4.7% (today's — no rate published for this year) | 6.7pts |
| FY2020 | 7.9% | 4.7% (today's — no rate published for this year) | 3.2pts |
| FY2021 | 10.1% | 4.7% (today's — no rate published for this year) | 5.3pts |
| FY2022 | 10.1% | 4.7% (today's — no rate published for this year) | 5.4pts |
| FY2023 | 10.6% | 4.7% (today's — no rate published for this year) | 5.9pts |
| FY2024 | 11.4% | 4.7% (today's — no rate published for this year) | 6.7pts |
| FY2025 | 10.2% | 4.7% (today's — no rate published for this year) | 5.5pts |
| Now | 6.4% | 4.7% | 1.6pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 58.3% | 40.2% | 23.1% |
| FY2017 | 59.6% | 37.9% | 27.0% |
| FY2018 | 66.1% | 35.8% | 21.4% |
| FY2019 | 67.6% | 35.8% | 19.8% |
| FY2020 | 67.6% | 28.6% | 15.1% |
| FY2021 | 67.1% | 32.7% | 21.8% |
| FY2022 | 64.5% | 29.2% | 22.8% |
| FY2023 | 65.3% | 29.2% | 24.5% |
| FY2024 | not reported | 28.8% | 17.2% |
| FY2025 | not reported | 23.3% | 11.4% |
Leverage and buybacks account for 23 points of the 30% return on equity in FY2025. The business earns 6% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$6.2B of goodwill — 32% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
ROIC ex-goodwill is 15.05% against 10.24% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Converts 1.04x of reported profit into free cash flow over 5 years, with accruals negative.
Reported free cash flow is $1.45B; after share-based compensation it is $1.30B. The difference is a real cost that the cash flow statement adds back.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025. No cash figure on the matching balance sheet, so no coverage line is drawn.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: interest_expense.
At $73.01, free cash flow must compound 13.76%/yr for 10 years. It has done 0.41%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | −43.1% | 13.8% |
| FY2021 | 101.5% | 13.8% |
| FY2022 | −14.2% | 13.8% |
| FY2023 | −13.5% | 13.8% |
| FY2024 | 8.2% | 13.8% |
| FY2025 | 11.3% | 13.8% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
| Step | Amount | Running total |
|---|---|---|
| Net income | $1.07B | $1.07B |
| Share-based comp | $151M | $1.23B |
| Other non-cash & working capital | $488M | $1.71B |
| Operating cash flow | $1.71B | $1.71B |
| Capex | −$265M | $1.45B |
| Free cash flow | $1.45B | $1.45B |
| FCF after SBC | $1.30B | $1.30B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -11.3% | not reported | not reported |
| FY2021 | 15.5% | not reported | not reported |
| FY2022 | 13.3% | not reported | not reported |
| FY2023 | 8.0% | not reported | not reported |
| FY2024 | 19.7% | not reported | not reported |
| FY2025 | 12.2% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -1.6 percent |
| FY2020 | -0.8 percent |
| FY2021 | -2.0 percent |
| FY2022 | -0.0 percent |
| FY2023 | 1.7 percent |
| FY2024 | -0.2 percent |
| FY2025 | -2.5 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-02 | 7 co-filers President, Popeyes-US & Canada | Grant | 5 | $0.00 | — |
| 2026-10-02 | 7 co-filers Pres., Tim Hortons US & Canada | Grant | 41 | $0.00 | — |
| 2026-10-02 | 8 co-filers Chief Executive Officer | Grant | 68 | $0.00 | — |
| 2026-10-02 | 7 co-filers See Remarks | Grant |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 38 |
| $0.00 |
| — |
| 2026-10-02 | 7 co-filers See Remarks | Grant | 24 | $0.00 | — |
| 2026-10-02 | 8 co-filers Chief Financial Officer | Grant | 23 | $0.00 | — |
| 2026-10-02 | 7 co-filers President, International | Grant | 21 | $0.00 | — |
| 2026-10-02 | 2 co-filers Executive Chairman | Grant | 2,114 | $0.00 | — |
| 2026-10-02 | 7 co-filers Pres., BK US & CA | Grant | 24 | $0.00 | — |
| 2026-10-02 | 7 co-filers See Remarks | Grant | 18 | $0.00 | — |
| 2026-10-02 | 7 co-filers Chief Corporate Officer | Grant | 23 | $0.00 | — |
| 2026-10-02 | 2 co-filers Executive Chairman | Grant | 7,927 | $0.00 | — |
| 2026-10-02 | 7 co-filers Chief Corporate Officer | Grant | 49 | $0.00 | — |
| 2026-10-02 | 7 co-filers See Remarks | Grant | 34 | $0.00 | — |
| 2026-10-02 | 8 co-filers Chief Executive Officer | Grant | 3,145 | $0.00 | — |
| 2026-10-02 | 7 co-filers President, Popeyes-US & Canada | Grant | 21 | $0.00 | — |
| 2026-10-02 | 7 co-filers Pres., Tim Hortons US & Canada | Grant | 68 | $0.00 | — |
| 2026-10-02 | 7 co-filers Pres., BK US & CA | Grant | 74 | $0.00 | — |
| 2026-10-02 | 8 co-filers Chief Financial Officer | Grant | 71 | $0.00 | — |
| 2026-10-02 | 7 co-filers See Remarks | Grant | 74 | $0.00 | — |
| 2026-10-02 | 7 co-filers President, International | Grant | 29 | $0.00 | — |
| 2026-10-02 | 7 co-filers See Remarks | Grant | 50 | $0.00 | — |
| 2026-10-02 | 7 co-filers Chief Corporate Officer | Grant | 202 | $0.00 | — |
| 2026-10-02 | 7 co-filers Pres., BK US & CA | Grant | 607 | $0.00 | — |
| 2026-10-02 | 7 co-filers Pres., Tim Hortons US & Canada | Grant | 539 | $0.00 | — |
| 2026-10-02 | 8 co-filers Chief Financial Officer | Grant | 472 | $0.00 | — |
| 2026-10-02 | 7 co-filers See Remarks | Grant | 270 | $0.00 | — |
| 2026-10-02 | 7 co-filers President, Popeyes-US & Canada | Grant | 115 | $0.00 | — |
| 2026-10-02 | 8 co-filers Chief Executive Officer | Grant | 156 | $0.00 | — |
| 2026-10-02 | 7 co-filers See Remarks | Grant | 337 | $0.00 | — |
| 2026-10-02 | 7 co-filers See Remarks | Grant | 166 | $0.00 | — |
| 2026-10-02 | 7 co-filers President, International | Grant | 290 | $0.00 | — |
| 2026-10-02 | 7 co-filers See Remarks | Grant | 72 | $0.00 | — |
| 2026-10-02 | 7 co-filers See Remarks | Grant | 33 | $0.00 | — |
| 2026-10-02 | 7 co-filers Chief Corporate Officer | Grant | 46 | $0.00 | — |
| 2026-10-02 | 7 co-filers Pres., Tim Hortons US & Canada | Grant | 89 | $0.00 | — |
| 2026-10-02 | 7 co-filers Pres., BK US & CA | Grant | 69 | $0.00 | — |
| 2026-10-02 | 7 co-filers President, International | Grant | 53 | $0.00 | — |
| 2026-10-02 | 8 co-filers Chief Financial Officer | Grant | 74 | $0.00 | — |
| 2026-10-02 | 7 co-filers See Remarks | Grant | 54 | $0.00 | — |