SANTELMO THIAGO T, President, International at Restaurant Brands International (QSR), has demonstrated a clear selling bias in recent transactions, with no buys recorded in the latest filings. Over 71 reported trades, Santelmo has sold $2.89 million worth of QSR shares while purchasing just under $1 million, reflecting a net divestment trend. The most recent activity includes five sales between January and March 2026, with notable transactions on March 17 totaling $1.31 million ($754,147 and $555,500) and two sales on February 23 each valued at $383,882.73. Earlier in the year, two smaller sales on January 7 amounted to $47,152.05 apiece.
The filings also include multiple transactions coded as "A" (award or grant) and "M" (exercise of derivative security), though these entries show no dollar value, suggesting they may represent stock awards or option exercises rather than market purchases. The absence of recent buying activity, combined with consistent sales—particularly the high-value disposals in February and March—indicates a sustained reduction in Santelmo’s QSR holdings. The pattern aligns with a broader trend of executives liquidating positions, though the filings provide no context beyond the disclosed transactions. All activity remains confined to QSR, with no trades in other securities.
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