What was the total number of performance-based RSUs forfeited by Burger King during 2024?
Burger_King Franchise · 2025 FDDAnswer from 2025 FDD Document
For grants of time-vested RSUs, if the employee is terminated for any reason prior to any vesting date, the employee will forfeit all of the RSUs that are unvested at the time of termination. For grants of performance-based RSUs beginning in 2021, if the employee is terminated within the first two years of the Anniversary Date, 100% of the performance-based RSUs will be forfeited. If we terminate the employment of a performance-based RSU holder without cause at least two years after the grant date, or if the employee retires, the employee will become vested in 67% of the performance-based RSUs that are earned based on the performance criteria.
An alternate ratable vesting schedule applies to the extent the participant ends employment by reason of death or disability.
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 109–124)
What This Means (2025 FDD)
Based on the 2025 Burger King Franchise Disclosure Document, the document discusses the conditions under which performance-based Restricted Stock Units (RSUs) are forfeited. For grants of performance-based RSUs beginning in 2021, if an employee is terminated within the first two years of the Anniversary Date, 100% of the performance-based RSUs are forfeited.
If Burger King terminates the employment of a performance-based RSU holder without cause at least two years after the grant date, or if the employee retires, the employee will become vested in 67% of the performance-based RSUs that are earned based on the performance criteria. An alternate ratable vesting schedule applies if the participant ends employment due to death or disability.
However, the 2025 FDD does not state the total number of performance-based RSUs forfeited by Burger King during 2024. To get this information, prospective franchisees should ask Burger King directly for specific data on RSU forfeitures during that year.