Patrick Doyle appointed Executive Chairman of RBI; buys $30M in stock, granted 3.25M options/RSUs/PSUs

Restaurant Brands International Inc.

Doyle appointed Executive Chairman effective Nov 16, 2022; to join Board in Jan 2023.
Purchasing 500,000 common shares (~$30M) at avg NYSE close price; agrees to 5-yr hold.
No base salary or annual bonus; receives one-time equity: 2M options (5yr vest, 10yr expiry), 500k RSUs (5yr ratable vest), 750k PSUs.
PSUs vest based on share price: threshold $81.32 (6% CAGR), target $97.87 (10% CAGR), max $122.23 (15% CAGR) over 5 years.
Doyle previously CEO of Domino's (2010-2018); system sales grew from $5.6B to $13B and ~$11B shareholder value created.

item 1.01 item 5.02 item 9.01

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Appointed

J. Patrick Doyle

Executive Chairman

QSR · Restaurant Brands International Inc.

Effective: 2022-11-16
Filed: November 16, 2022, 6:59 PM ET

On November 16, 2022, RBI announced that the Board of Directors of RBI appointed J. Patrick Doyle to become Executive Chairman of RBI.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

J. Patrick Doyle was appointed as Executive Chairman at Restaurant Brands International Inc..

Action: appointed
Role: Executive Chairman

Exact text from the filing

On November 16, 2022, RBI announced that the Board of Directors of RBI appointed J. Patrick Doyle to become Executive Chairman of RBI.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Restaurant Brands International Inc. entered into stock purchase agreement with Lodgepole 231 LLC valued at 500,000 common shares (effective 2022-11-15).

Action: entry
Agreement: equity purchase
Counterparty: Lodgepole 231 LLC
Value: 500,000 common shares
Effective: 2022-11-15

Exact text from the filing

On November 15, 2022, Restaurant Brands International Inc. (“RBI”) and Lodgepole 231 LLC, a Delaware limited liability company of which J. Patrick Doyle is the sole member, entered into a stock purchase agreement for the purchase of 500,000 common shares of RBI in a private placement at a price per share equal to the average closing price on the New York Stock Exchange for the five trading days preceding the agreement.

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Restaurant Brands International Inc. filing history →

Source: SEC EDGAR

accession 0001618756-22-000063

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