MCDONALDS CORP
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
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Item 5. Other Information
Rule 10b5-1 Trading Plans
In accordance with the disclosure requirement set forth in Item 408(a) of Regulation S-K, the following table discloses the officers (as defined in Rule 16a-1(f) under the Exchange Act) and directors who adopted a contract, instruction or written plan for the sale of the Company’s securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) during the quarter ended September 30, 2025. These trading plans were respectively terminated and adopted during an open trading window.
| Name / Title | Type of Plan | Adoption Date | End Date | Termination Date | Aggregate Number of Securities to be Sold | Plan Description |
|---|---|---|---|---|---|---|
| Joseph Erlinger / President, McDonald's USA | Rule 10b5-1 trading plan | August 28, 2024 | December 23, 2025 | August 7, 2025 | 16,484 | Termination of Rule 10b5-1 trading plan[1] |
| Joseph Erlinger / President, McDonald's USA | Rule 10b5-1 trading plan | August 7, 2025 | December 23, 2026 | N/A | 45,083[2] | Sale of shares[1] |
[1]On August 7, 2025, Joseph Erlinger, President, McDonald’s USA, terminated a Rule 10b5-1 trading plan that was adopted on August 28, 2024, and provided for the sale of up to 16,484 shares of McDonald’s stock until December 23, 2025. Following the termination of the previous Rule 10b5-1 trading plan, on August 7, 2025, Mr. Erlinger entered into a new Rule 10b5-1 trading plan, which provides for the potential sale of up 45,083 shares of McDonald’s stock until December 23, 2026 (with the first trade under the new trading plan scheduled for January 12, 2026).
[2]Represents the maximum number of shares that are eligible to vest pursuant to Mr. Erlinger’s 2023 performance-based restricted stock unit award. The actual number of shares that will vest and be sold pursuant to the trading plan will depend upon the Company’s performance against the applicable performance targets.
Other than as disclosed above, no officer or director adopted, modified, or terminated a contract, instruction or written plan for the purchase or sale of the Company’s securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or a non-Rule 10b5-1 trading arrangement.
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