A Form 4 is filed within two business days of a company insider — an officer, a director, or a holder of more than ten percent of the stock — changing their position in the shares. All 11 filings in this group are Form 4s for McDonald's Corporation.
The difficulty with reading these filings as a group is that a single form type covers transactions that mean entirely different things. An executive spending their own money to buy stock and an executive having shares withheld to pay tax on a vesting grant both appear as a Form 4. Every filing below is therefore tagged with the nature of the underlying transaction, taken from the transaction code reported on the form itself.
Across the 11 insider filings shown, the breakdown is 6 compensation award, 4 open-market sale and 1 option exercise. 4 of them involved a discretionary open-market trade; the rest are compensation and administrative mechanics.
Form 4
Compensation award
Tax / Compensation Filing
2026-10-02
MCD insider Form 4 filed for equity award, exercise, or tax withholding
Dean Lloyd H (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
derivative · Phantom Stock
|
156 |
$230.94 |
$36.0K |
Filing: Form 4 (Insider Transaction)
Insider: Dean Lloyd H (Director)
Form 4
Compensation award
Tax / Compensation Filing
2026-10-02
MCD insider Form 4 filed for equity award, exercise, or tax withholding
Taubert Jennifer L (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
derivative · Phantom Stock
|
129 |
$230.94 |
$29.8K |
Filing: Form 4 (Insider Transaction)
Insider: Taubert Jennifer L (Director)
Form 4
Compensation award
Tax / Compensation Filing
2026-10-02
MCD insider Form 4 filed for equity award, exercise, or tax withholding
Hsu Michael D. (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
derivative · Phantom Stock
|
129 |
$230.94 |
$29.8K |
Filing: Form 4 (Insider Transaction)
Insider: Hsu Michael D. (Director)
Form 4
Option exercise
Tax / Compensation Filing
2026-08-11
MCD insider Form 4 filed for equity award, exercise, or tax withholding
Elting Lauren B (VP - CAO and Corp Controller) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
The insider converted options into shares. The exercise price was fixed when the options were granted, so the timing usually tracks an expiry schedule.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
M |
Option exercise
|
990 |
— |
— |
M |
Option exercise
|
48 |
— |
— |
F |
Tax withholding on vested shares
|
304 |
$274.48 |
$83.4K |
M |
Option exercise
derivative · Restricted Stock Unit
|
990 |
— |
— |
M |
Option exercise
derivative · Dividend Equivalent Rights
|
48 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: Elting Lauren B (VP - CAO and Corp Controller)
Shares: 1,342
Form 4
Compensation award
Tax / Compensation Filing
2026-07-02
MCD insider Form 4 filed for equity award, exercise, or tax withholding
Taubert Jennifer L (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
derivative · Phantom Stock
|
96 |
$310.79 |
$29.8K |
A |
Compensation award
derivative · Phantom Stock
|
110 |
$270.31 |
$29.7K |
Filing: Form 4 (Insider Transaction)
Insider: Taubert Jennifer L (Director)
Form 4
Compensation award
Tax / Compensation Filing
2026-07-02
MCD insider Form 4 filed for equity award, exercise, or tax withholding
Dean Lloyd H (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
derivative · Phantom Stock
|
116 |
$310.79 |
$36.1K |
A |
Compensation award
derivative · Phantom Stock
|
134 |
$270.31 |
$36.2K |
Filing: Form 4 (Insider Transaction)
Insider: Dean Lloyd H (Director)
Form 4
Compensation award
Tax / Compensation Filing
2026-07-02
MCD insider Form 4 filed for equity award, exercise, or tax withholding
Hsu Michael D. (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
derivative · Phantom Stock
|
96 |
$310.79 |
$29.8K |
A |
Compensation award
derivative · Phantom Stock
|
110 |
$270.31 |
$29.7K |
Filing: Form 4 (Insider Transaction)
Insider: Hsu Michael D. (Director)
Form 4
Open-market sale
Insider Selling
2026-06-10
MCD insider Erlinger Joseph M. (President, McDonald's USA) sold 5,252 shares (~$1.49M)
Erlinger Joseph M., listed as President, McDonald's USA at MCDONALDS CORP, reported an open-market sale of 5,252 MCD shares in a Form 4 filing. This is a confirmed insider sale, not just a proposed sale notice.
The insider sold shares on the open market. Sales may be discretionary or executed automatically under a pre-arranged Rule 10b5-1 trading plan, and a Form 4 does not always make clear which applies.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
M |
Option exercise
|
5,252 |
$157.79 |
$828.7K |
S |
Open-market sale
|
5,252 |
$284.32 |
$1.49M |
M |
Option exercise
derivative · Options (Right to Buy)
|
5,252 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: Erlinger Joseph M. (President, McDonald's USA)
Shares: 5,252
Est. Value: $1.49M
Form 4
Open-market sale
Insider Selling
2026-06-01
MCD insider Ralls-Morrison Desiree (EVP, Chief Legal Officer) sold 2,763 shares (~$769.1K)
Ralls-Morrison Desiree, listed as EVP, Chief Legal Officer at MCDONALDS CORP, reported an open-market sale of 2,763 MCD shares in a Form 4 filing. This is a confirmed insider sale, not just a proposed sale notice.
The insider sold shares on the open market. Sales may be discretionary or executed automatically under a pre-arranged Rule 10b5-1 trading plan, and a Form 4 does not always make clear which applies.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
S |
Open-market sale
|
2,763 |
$278.36 |
$769.1K |
Filing: Form 4 (Insider Transaction)
Insider: Ralls-Morrison Desiree (EVP, Chief Legal Officer)
Shares: 2,763
Est. Value: $769.1K
Form 4
Open-market sale
Insider Selling
2026-05-27
MCD insider Erlinger Joseph M. (President, McDonald's USA) sold 333 shares (~$93.3K)
Erlinger Joseph M., listed as President, McDonald's USA at MCDONALDS CORP, reported an open-market sale of 333 MCD shares in a Form 4 filing. This is a confirmed insider sale, not just a proposed sale notice.
The insider sold shares on the open market. Sales may be discretionary or executed automatically under a pre-arranged Rule 10b5-1 trading plan, and a Form 4 does not always make clear which applies.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
S |
Open-market sale
|
333 |
$280.11 |
$93.3K |
Filing: Form 4 (Insider Transaction)
Insider: Erlinger Joseph M. (President, McDonald's USA)
Shares: 333
Est. Value: $93.3K
Form 4
Open-market sale
Insider Selling
2026-04-23
MCD insider Erlinger Joseph M. (President, McDonald's USA) sold 333 shares (~$100.8K)
Erlinger Joseph M., listed as President, McDonald's USA at MCDONALDS CORP, reported an open-market sale of 333 MCD shares in a Form 4 filing. This is a confirmed insider sale, not just a proposed sale notice.
The insider sold shares on the open market. Sales may be discretionary or executed automatically under a pre-arranged Rule 10b5-1 trading plan, and a Form 4 does not always make clear which applies.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
S |
Open-market sale
|
333 |
$302.72 |
$100.8K |
Filing: Form 4 (Insider Transaction)
Insider: Erlinger Joseph M. (President, McDonald's USA)
Shares: 333
Est. Value: $100.8K