McDonald's Director Michael D. Hsu Acquires Phantom Stock via Deferred Compensation

Executive Summary

On October 2, 2026, McDonald's Corp ($MCD) filed a Form 4 disclosing that Director Michael D. Hsu acquired 129.9 shares of Phantom Stock on September 30, 2026. The shares were credited at an effective price of $230.94 per share, representing approximately $30,000 in value under the Board of Directors Deferred Compensation Plan.

Transaction Analysis

• Nature of Transaction: Transaction Code A represents an acquisition under a deferred compensation plan exempt pursuant to Rule 16b-3(d)(1). Directors often elect to receive board retainers in phantom stock rather than cash.
• Terms: Each phantom stock unit represents the economic equivalent of one share of common stock and is payable in cash following director retirement or board departure.
• Holdings: Following this transaction, Michael D. Hsu directly holds 2,148.52 shares of Phantom Stock (including dividend reinvestments) and indirectly holds 89 shares of Common Stock via trust.

Market Impact & Significance

This filing reflects routine quarterly director retainer deferral rather than discretionary open-market buying or selling. Consequently, it carries Low trading significance for investors.