Peter Perdue, president of Popeyes-US & Canada at Restaurant Brands International, has filed 52 Form 4 transactions, all in QSR, with a clear sell-side bias. Over the reporting period, he has recorded $706,165.54 in open-market sales and zero open-market purchases, while acquiring $49,612.01 in shares through compensation awards. The most recent activity, dated July 7, 2026, consists entirely of seven "A" code grants valued at $0—equity awards that carry no cash outlay and reflect routine compensation rather than discretionary buying.
The pattern in early 2026 shows a cluster of option exercises and sales. On February 23, Perdue executed two sales totaling $524,165.56, following four "M" code option exercises on February 22. He also sold $53,366.06 in two transactions on January 7. These sales were preceded by a February 25 grant valued at $49,612.01, suggesting the exercise-and-sell sequence was tied to vesting. The four most recent sell transactions occurred between January and February 2026, with no open-market purchases in the entire filing history.
The absence of any "P" code purchases—the only transaction type indicating conviction buying—combined with the consistent sale activity, points to a disposition-oriented insider. Perdue’s sales are modest in size relative to typical executive liquidations, and the compensation grants (code "A") and tax-related withholdings (code "F") account for the acquisition side. Overall, the filings depict a president who regularly monetizes vested equity but has not added shares at market prices, a stance consistent with portfolio diversification rather than accumulation.
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