McDonald's Director Lloyd H. Dean Receives Phantom Stock Grant Under Deferred Comp Plan

Overview & Context

On October 2, 2026, McDonald's Corp ($MCD) filed a Form 4 disclosing that Director Lloyd H. Dean acquired 156.97 shares of Phantom Stock on September 30, 2026, priced at $230.94 per share, totaling approximately $36,250.65.

Transaction Details

• Security: Phantom Stock, convertible on a 1-for-1 basis into cash equivalent to McDonald's Corporation common stock.
• Transaction Code: 'A' (Grant, award, or other acquisition pursuant to Rule 16b-3(d)(1)).
• Plan Details: The shares were acquired under the Board of Directors' Deferred Compensation Plan. Payment is deferred and will be made following the director's retirement or termination from the Board.
• Post-Transaction Holdings: Following this transaction, Director Dean directly holds 16,309.43 shares of phantom stock, which includes prior dividend reinvestment accumulations.

Market & Strategic Significance

This filing represents standard quarterly director compensation deferred into phantom stock rather than an open-market discretionary trade. Because it reflects scheduled retainer/fee deferral under the company's established compensation framework, it conveys Low informational significance regarding insider sentiment on the stock's future performance.