RBI Clarifies Class B Unit Registration on Toronto Stock Exchange

Ticker: QSR · Form: 8-K · Filed: Jan 8, 2024 · CIK: 1618756

Complexity: simple

Sentiment: neutral

Topics: regulatory-filing, corporate-governance, exchange-listing

TL;DR

**RBI just confirmed its Class B units are officially listed on the Toronto Stock Exchange.**

AI Summary

Restaurant Brands International Inc. (RBI) filed an 8-K on January 8, 2024, to update its registration information, specifically noting that its Class B exchangeable limited partnership units (trading symbol QSP) are registered on the Toronto Stock Exchange. This filing primarily serves to clarify the registration status of these units, which matters to investors because it confirms the official listing and trading venue for a specific class of RBI's securities, ensuring transparency and compliance with exchange regulations.

Why It Matters

This filing ensures investors have accurate information about where RBI's Class B exchangeable limited partnership units are officially traded, which is crucial for liquidity and regulatory compliance.

Risk Assessment

Risk Level: low — This filing is purely administrative, updating registration details, and does not indicate any operational or financial risks.

Analyst Insight

This filing is purely administrative and does not provide new financial or operational information that would warrant an immediate investment action. Investors should note the confirmed listing of QSP units for accurate trading information.

Key Players & Entities

FAQ

What is the purpose of this 8-K filing by Restaurant Brands International Inc.?

The purpose of this 8-K filing is to report an event on January 8, 2024, specifically a Regulation FD Disclosure and to provide information on Financial Statements and Exhibits, primarily clarifying the registration of its Class B exchangeable limited partnership units.

Which specific securities of Restaurant Brands International Inc. are mentioned as registered on the Toronto Stock Exchange in this filing?

The filing explicitly states that 'Common Shares, without par value' (trading symbol QSR) and 'Class B exchangeable limited partnership units' (trading symbol QSP) are registered on the Toronto Stock Exchange.

What is the trading symbol for Restaurant Brands International Inc.'s Common Shares and on which exchanges are they registered?

The trading symbol for Restaurant Brands International Inc.'s Common Shares is QSR, and they are registered on both the New York Stock Exchange and the Toronto Stock Exchange.

What is the full legal name of the registrant as specified in its charter, according to the filing?

The full legal name of the registrant as specified in its charter is 'RESTAURANT BRANDS INTERNATIONAL INC.' and 'RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP'.

When was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on January 8, 2024.

Filing Stats: 835 words · 3 min read · ~3 pages · Grade level 13.2 · Accepted 2024-01-08 06:46:46

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On January 8, 2024, Restaurant Brands International Inc. ("RBI") announced further details on its previously announced change to its reportable segments and announced an updated measure of segment income. Beginning with the fourth quarter and year ended December 31, 2023 , RBI revised its reportable segments to align with how the Chief Operating Decision Maker manages RBI's business, including resource allocation and performance assessment. RBI's revised reportable segments consist of the following: (1) Tim Hortons ("TH"); (2) Burger King ("BK"); (3) Popeyes Louisiana Kitchen ("PLK"); (4) Firehouse Subs ("FHS"); and (5) International ("INTL"). The TH, BK, PLK and FHS segments include results from each brands' operations in the United States and Canada. INTL includes consolidated results from each brands' operations outside of the United States and Canada. In addition, RBI has transitioned its measure of segment income from Adjusted EBITDA to Adjusted Operating Income ("AOI"). AOI represents income from operations, adjusted to exclude (i) franchise agreement amortization ("FAA") as a result of acquisition accounting, (ii) (income) loss from equity method investments, net of cash distributions received from equity method investments, (iii) other operating expenses (income), net and, (iv) income/expenses from non-recurring projects and non-operating activities. Unlike Adjusted EBITDA, AOI includes depreciation and amortization (excluding FAA) as well as share-based compensation and non-cash incentive compensation expense. RBI will continue to report Adjusted EBITDA on a consolidated and segment level basis for supplemental purposes. In order to assist investors, RBI has included in Exhibits 99.1 and 99.2 to this report certain unaudited historical information to provide investors with supplemental financial and operational information that is on a basis consistent with RBI's revised segment structure and new measure of segment

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release dated January 8, 2024. 99.2 Historical Financial Information for New Segment Reporting 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. RESTAURANT BRANDS INTERNATIONAL INC. RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP, by its general partner RESTAURANT BRANDS INTERNATIONAL INC. Date: January 8, 2024 /s/ Matthew Dunnigan Name: Matthew Dunnigan Title: Chief Financial Officer

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