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Gaming & Lodging

Restaurant Brands International Executive Compensation (FY25)

QSR · Miami, FL · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Joshua Kobza
Latest say-on-pay support
=
June 3, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of November 4, 2026Latest filing (8-K): June 3, 2026
14 filings cited on this page
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306 figures on this page: 298 cited to the filing that reported them, 8 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Joshua Kobza: $14,469,868 → $15,159,780 (4.8% higher)
CEO pay ratio: 770:1 → 1,369:1 (77.8% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Restaurant Brands International's chief executive and what were they paid?
Joshua Kobza, Chief Executive Officer, received $15,159,780 in total compensation for fiscal 2025. Compared with the $14,469,868 reported for fiscal 2024, Kobza's total was 4.8% higher.
What was Restaurant Brands International's say-on-pay result?
The say-on-pay proposal drew 97.5% support at the meeting held June 3, 2026 for fiscal 2025.
Which companies are in Restaurant Brands International's peer group?
The disclosed peer group includes Chipotle Mexican Grill, Inc., Hilton Worldwide Holdings, Inc., Hyatt Hotels Corporation, Kellanova and Kimberly-Clark Corporation, among others.
What is Restaurant Brands International's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 1,369:1, against median employee compensation of $11,075.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
J. Patrick Doyle
Executive Chairman
——◇◇———◇
Jos Cil
CEO
◇—◇—◇—◇◇
Joshua Kobza
Chief Operating Officer
◇—◇—◇—◇◇
David Shear
President, International
◇—◇—◇—◇— not reconciled
Matthew Dunnigan
Chief Financial Officer
◇—◇—◇—◇— not reconciled
Thomas Curtis
President, Burger King
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joshua Kobza
CEO
◇—◇—◇—◇◇
David Shear
President, International
◇—◇—◇—◇◇
Axel Schwan
President
◇—◇—◇—◇◇
Thomas Curtis
President, Burger King
◇—◇—◇—◇◇
Matthew Dunnigan
CFO
◇—◇—◇—◇◇
José Cil
Former CEO
Departed during or after this year
◇—◇———◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joshua Kobza
Chief Executive Officer
◇—◇—◇—◇◇
Axel Schwan
President, Tim Hortons Canada & US
◇—◇—◇—◇◇
David Shear
Former President, International
Departed during or after this year
◇—◇———◇◇
Thomas Curtis
President, Burger King US & Canada
◇—◇—◇—◇◇
Sami Siddiqui
Chief Financial Officer
◇—◇—◇—◇◇
Jill Granat
General Counsel
◇—◇—◇—◇◇
Matthew Dunnigan
Former Chief Financial Officer
Departed during or after this year
◇—◇———◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joshua Kobza
Chief Executive Officer
◇—◇—◇—◇◇
Sami Siddiqui
Chief Financial Officer
◇—◇—◇—◇◇
Axel Schwan
President, Tim Hortons Canada & US
◇—◇—◇—◇◇
Thomas Curtis
President, Burger King US & Canada
◇—◇—◇—◇◇
Jill Granat
General Counsel
◇—◇—◇◇◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Axel SchwanPSU◇◇◇—◇—◇
Axel SchwanRSU◇——◇——◇
Jill GranatRSU◇——◇——◇
Jill GranatPSU◇◇◇—◇—◇
Joshua KobzaPSU◇◇◇—◇—◇
Joshua KobzaRSU◇——◇——◇
Sami SiddiquiPSU◇◇◇—◇—◇
Sami SiddiquiPSU◇◇◇—◇—◇
Sami SiddiquiRSU◇——◇——◇
Thomas CurtisRSU◇——◇——◇
Thomas CurtisPSU◇◇◇—◇—◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Joshua KobzaRSU◇◇——
Option◇—◇5/4/2027
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Thomas CurtisPSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Sami SiddiquiOption◇—◇02/23/27
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇02/20/30
RSU◇◇——
RSU◇◇——
RSU◇◇——
Axel SchwanRSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇02/20/30
Option◇—◇02/22/28
Option◇—◇02/21/29
RSU◇◇——
RSU◇◇——
RSU◇◇——
Jill GranatOption◇—◇05/04/27
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇02/20/30
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Axel Schwan
President, Tim Hortons Canada & US · Offer letter
Non-compete period◇
Non-solicit period◇
Thomas Curtis
President, Burger King US & Canada · Offer letter
Change-in-control trigger◇
Non-compete period◇
Non-solicit period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ali Hedayat
Lead independent director
—◇————◇
Jason Melbourne
—◇————◇
Alexandre Behring
—◇————◇
Maximilien de Limburg Stirum
—◇————◇
Cristina Farjallat
—◇————◇
Thecla Sweeney
—◇————◇
Marc Lemann
—◇————◇
Daniel S. Schwartz
—◇————◇
Jordana Fribourg
—◇————◇
Marcia Smith and J. Patrick Doyle served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee member◇
Compensation committee member◇
Nominating and governance member◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 5x base annual cash retainer ($250,000)

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Chipotle Mexican Grill, Inc. CMG
  • Hilton Worldwide Holdings, Inc. HLT
  • Hyatt Hotels Corporation H
  • Kellanova K
  • Kimberly-Clark Corporation KMB
  • Kraft Heinz Company KHC
  • Las Vegas Sands Corp. LVS
  • Marriott International Inc. MAR
  • Restaurants DRI
  • Royal Caribbean Cruises Ltd. RCL
  • Starbucks Corporation SBUX

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 3, 2026=◇◇◇
2024June 3, 2025=◇◇◇
2023June 6, 2024=◇◇◇
2022May 23, 2023=◇◇◇
2021June 15, 2022=◇◇◇
2020June 16, 2021=◇◇◇
2019June 10, 2020=◇◇◇
2018June 11, 2019=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”
- Joshua Kobza (Chief Executive Officer), FY2025 total compensation $15,159,780 (base salary $950,000) [exec_comp, SEC accession 0001193125-26-171760, filed 2026-04-23]

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What this page does not include

Everything above is a fact Restaurant Brands International disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Restaurant Brands International sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $500
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
306 figures on this page: 298 cited to the filing that reported them, 8 calculated from figures it prints.
298 cited to the filing
8 calculated from the filing

Documents cited

  1. 0001618756-26-000037
  2. 0001193125-26-171760
    2025 Grants of Plan-Based Awards Table · 2025 Summary Compensation Table · CEO Pay Ratio · Non-Management Director Compensation · and 1 more section
  3. 0001618756-26-000017
    EX-10.20
  4. 0001618756-25-000249
  5. 0001193125-25-091549
    2024 Summary Compensation Table
  6. 0001618756-24-000094
  7. 0001193125-24-114030
    2023 Summary Compensation Table
  8. 0001618756-23-000024
  9. 0001193125-23-098778
    2022 Summary Compensation Table
  10. 0001618756-22-000035
  11. 0001618756-21-000034
  12. 0001618756-21-000022
    Exhibit
  13. 0001618756-20-000020
  14. 0001193125-19-170367
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Velarion, “Restaurant Brands International executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/QSR (accessed 2026).
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Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
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14 filings cited on this page
Method: intel.velarion.ai/methodology
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Gaming & Lodging rankings

Chief executive pay — Gaming & LodgingCEO pay ratio — Gaming & LodgingSay-on-pay support — Gaming & Lodging

Peers Restaurant Brands International discloses

The companies named in QSR's own disclosed peer group.

Chipotle Mexican Grill, Inc.Hilton Worldwide Holdings, Inc.Hyatt Hotels CorporationKellanovaKimberly-Clark CorporationKraft Heinz CompanyLas Vegas Sands Corp.Marriott International Inc.RestaurantsRoyal Caribbean Cruises Ltd.Starbucks Corporation

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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