McDonald’s Corp. director Jennifer L. Taubert reported a change in beneficial ownership tied to the company’s director deferred-compensation program. The reported transaction occurred on March 31, 2026, and involved phantom stock units linked to McDonald’s common stock. According to the filing, each share of phantom stock is economically equivalent to one share of McDonald’s common stock, but the units are not actual shares and will be settled in cash under McDonald’s Board of Directors’ Deferred Compensation Plan. The acquisition was described as deferred compensation and was reported as exempt under Rule 16b-3(d)(1), which commonly covers certain transactions between issuers and directors or officers under approved benefit plans. The phantom stock is payable after Taubert’s retirement from, or other termination of service on, McDonald’s board. The filing also notes that the reported holdings include additional phantom shares acquired through dividend reinvestment. No open-market purchase or sale of McDonald’s common stock was described in the provided filing text, and no transaction price, share quantity, transaction code, or post-transaction ownership total is visible in the supplied document excerpt. The report was signed on July 1, 2026, by Jeffrey J. Pochowicz as attorney-in-fact and filed on July 2, 2026. McDonald’s noted that the March 31, 2026 transaction was reported late because of an inadvertent administrative oversight. The filing therefore primarily documents a deferred-compensation-related phantom stock acquisition by a director, rather than a discretionary insider trade in the public market.