Restaurant Brands International Inc. reported an insider ownership change by Fulton Duncan in a Form 4 filed July 9, 2026, covering a transaction date of July 7, 2026. The filing relates to RBI common shares and equity-based compensation instruments tied to those shares. The document’s explanatory notes indicate that the reported holdings include stock options, restricted share units, dividend equivalent rights, and performance-based restricted share units. Some of the options were originally issued with Canadian-dollar exercise prices of CAD $82.81 and CAD $88.03, with the Form 4 reporting the U.S.-dollar equivalent exercise price as of the grant date. One set of options is described as fully vested and exercisable. The filing also describes restricted share units, with each RSU representing a contingent right to receive one RBI common share. Dividend equivalent rights accrued on the underlying RSU awards; these rights accrue when dividends are paid on the common shares underlying the RSUs and vest proportionately with the related RSUs. One RSU award has remaining vesting scheduled for December 15, 2026, while another has remaining installments scheduled for December 15, 2026, and December 15, 2027. In addition, the filing references performance-based restricted share units granted to Duncan, identified as “2024 PBRSUs.” 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 RBI common shares earned may increase or decrease depending on achievement of the applicable performance condition. Dividend equivalent rights also accrued on the PBRSUs. The provided filing text does not include the transaction table showing the exact share counts, transaction codes, per-share transaction prices, or Duncan’s ownership totals after the reported event. As a result, the clearest takeaway is that the Form 4 documents a July 7, 2026 change in Duncan’s beneficial ownership tied to RBI common shares and related equity compensation awards, including accrued dividend equivalents and outstanding vesting schedules, rather than providing enough detail here to quantify the net acquisition or disposition.