McDonald's insider activity
What the executives and directors of McDonald's actually did with their own shares, decoded from their SEC Form 4 filings. Each figure says the stretch of time it covers.
−$41M
net open-market flow, 12 m
0 open-market buys, 12 m
92.5%
of sale value on 10b5-1 plans, 12 m
1,267 days since an insider bought, whole record
The tape: three years of insider trades
Open-market buy
Discretionary sale
Planned sale (10b5-1)
Reported-price path
Routine
Every marker sits at the price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the grey strip is the routine flow (grants, vestings, tax withholding and gifts) that a headline gets wrong by counting it as selling.
The 73 routine events on the chart, as a list
| Date | Insider | Shares |
|---|---|---|
| Aug 7, 2026 | Elting Lauren B | 1,342 |
| Jun 10, 2026 | Erlinger Joseph M. | 5,252 |
| Apr 10, 2026 | Erlinger Joseph M. | 2,626 |
| Mar 10, 2026 | Erlinger Joseph M. | 2,626 |
| Feb 23, 2026 | Banner Jonathan | 4,600 |
| Feb 13, 2026 | Erlinger Joseph M. | 11K |
| Feb 13, 2026 | Kempczinski Christopher J | 82K |
| Feb 13, 2026 | Flatley Edith Morgan | 7,484 |
| Feb 13, 2026 | Borden Ian Frederick | 8,747 |
| Feb 13, 2026 | Ralls-Morrison Desiree | 5,529 |
| Feb 13, 2026 | Rice Brian S | 3,598 |
| Feb 13, 2026 | Steijaert Manuel JM | 5,148 |
| Feb 13, 2026 | McDonald Gillian | 9,903 |
| Feb 13, 2026 | Banner Jonathan | 11K |
| Feb 13, 2026 | Boyd Tiffanie L. | 3,050 |
| Feb 13, 2026 | Baroni Dario | 4,355 |
| Jan 12, 2026 | Erlinger Joseph M. | 2,626 |
| Dec 1, 2025 | Steijaert Manuel JM | 6,567 |
| Nov 21, 2025 | Borden Ian Frederick | 17K |
| Nov 20, 2025 | Erlinger Joseph M. | 690 |
| Nov 5, 2025 | Steijaert Manuel JM | 13K |
| Oct 14, 2025 | Rice Brian S | 7,448 |
| Aug 31, 2025 | Rice Brian S | 8,080 |
| Aug 20, 2025 | Flatley Edith Morgan | 4,692 |
| Aug 11, 2025 | Boyd Tiffanie L. | 4,474 |
| Aug 7, 2025 | Elting Lauren B | 1,311 |
| May 20, 2025 | Steijaert Manuel JM | 6,000 |
| May 7, 2025 | Kempczinski Christopher J | 32K |
| Feb 24, 2025 | Steijaert Manuel JM | 10K |
| Feb 14, 2025 | Kempczinski Christopher J | 55K |
| Feb 14, 2025 | Borden Ian Frederick | 16K |
| Feb 14, 2025 | Erlinger Joseph M. | 16K |
| Feb 14, 2025 | Ralls-Morrison Desiree | 11K |
| Feb 14, 2025 | Steijaert Manuel JM | 8,782 |
| Feb 14, 2025 | Gross Marion K. | 2,011 |
| Feb 14, 2025 | Sempels Jo | 2,339 |
| Feb 14, 2025 | Flatley Edith Morgan | 8,063 |
| Feb 14, 2025 | Boyd Tiffanie L. | 4,474 |
| Feb 13, 2025 | McDonald Gillian | 5,784 |
| Feb 13, 2025 | Banner Jonathan | 16K |
| Jan 2, 2025 | Gross Marion K. | 1,499 |
| Nov 1, 2024 | Gross Marion K. | 1,499 |
| Oct 14, 2024 | Flatley Edith Morgan | 2,346 |
| Oct 8, 2024 | Rice Brian S | 4,792 |
| Sep 27, 2024 | Kempczinski Christopher J | 9,291 |
| Sep 23, 2024 | Borden Ian Frederick | 5,939 |
| Sep 16, 2024 | Borden Ian Frederick | 1,325 |
| Sep 3, 2024 | Gross Marion K. | 1,498 |
| Aug 31, 2024 | Rice Brian S | 5,903 |
| Jul 3, 2024 | Gross Marion K. | 1,498 |
| May 28, 2024 | CAPOZZI HEIDI B | 10K |
| May 22, 2024 | HERNANDEZ ENRIQUE JR | 9,939 |
| May 17, 2024 | Ralls-Morrison Desiree | 18K |
| May 7, 2024 | Rice Brian S | 5,338 |
| Feb 26, 2024 | Gross Marion K. | 223 |
| Feb 23, 2024 | Flatley Edith Morgan | 2,346 |
| Feb 16, 2024 | Flatley Edith Morgan | 8,498 |
| Feb 16, 2024 | Kempczinski Christopher J | 93K |
| Feb 16, 2024 | Borden Ian Frederick | 29K |
| Feb 16, 2024 | CAPOZZI HEIDI B | 19K |
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
The chart, in numbers
| Flow | Shares |
|---|---|
| Vested / exercised | 181K |
| Withheld for tax | 28K |
| Planned sales (10b5-1) | 118K |
| Discretionary sales | 9,396 |
| Gifts | 4,414 |
| Kept | 21K |
Skin in the game
Directly held shares as reported after each trade, indexed to 100 at the start of the window, up to five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
The chart, in numbers
| Insider | Start of the window | Latest reported | Indexed, start = 100 |
|---|---|---|---|
| Borden Ian Frederick | 14K | 30K | 221.2 |
| Erlinger Joseph M. | 8,187 | 7,734 | 94.5 |
Who holds what
the 14 largest holdings of 17| Insider | Role | Shares held | Buys 12 m | Sales 12 m | 12 m | Last trade |
|---|---|---|---|---|---|---|
| Kempczinski Christopher J Chairman and CEO Last trade Feb 13, 2026 | CEO | 49K | – | $17M | net selling over the year: 0 months buying, 1 month selling | Feb 13, 2026 |
| Borden Ian Frederick EVP - CFO Last trade Nov 21, 2025 | CFO | 32K | – | $5.3M | net selling over the year: 0 months buying, 1 month selling | Nov 21, 2025 |
| CAPOZZI HEIDI B EVP - Chief People Officer Last trade Dec 29, 2023 | Officer | 30K | – | – | Dec 29, 2023 | |
| Gross Marion K. EVP-Chief Supply Chain Officer Last trade Feb 21, 2025 | Officer | 14K | – | – | Feb 21, 2025 | |
| Erlinger Joseph M. President, McDonald's USA Last trade Jun 10, 2026 | Officer | 13K | – | $6.2M | net selling over the year: 0 months buying, 7 months selling | Jun 10, 2026 |
| Rice Brian S EVP-Global Chief Info. Officer | Officer | 11K | – | – | – | |
| HERNANDEZ ENRIQUE JR Last trade Jul 29, 2022 | Other | 9,939 | – | – | Jul 29, 2022 | |
| Boyd Tiffanie L. EVP - Chief People Officer Last trade Feb 27, 2025 | Officer | 8,511 | – | – | Feb 27, 2025 | |
| McDonald Gillian EVP, Global Rest. Exp. Ofc. | Officer | 8,212 | – | – | – | |
| Flatley Edith Morgan EVP - Global CMO Last trade Feb 12, 2026 | Officer | 8,059 | – | $1.8M | net selling over the year: 0 months buying, 2 months selling | Feb 12, 2026 |
| Steijaert Manuel JM EVP - President, IOM Last trade Dec 1, 2025 | Officer | 7,878 | – | $6.0M | net selling over the year: 0 months buying, 2 months selling | Dec 1, 2025 |
| Ralls-Morrison Desiree EVP, Chief Legal Officer Last trade May 28, 2026 | Officer | 6,268 | – | $1.6M | net selling over the year: 0 months buying, 2 months selling | May 28, 2026 |
| Sempels Jo President, IDL Last trade May 5, 2023 | Officer | 5,693 | – | – | May 5, 2023 | |
| Banner Jonathan EVP - Chief Impact Officer Last trade Feb 23, 2026 | Officer | 2,291 | – | $2.1M | net selling over the year: 0 months buying, 1 month selling | Feb 23, 2026 |
Open-market trade log
the 60 most recent of 697| Date | Insider | Type | Shares | Price | Value | Since trade | Filed |
|---|---|---|---|---|---|---|---|
| Jun 10, 2026 | Erlinger Joseph M. (Officer) 5,252 shares $284.32 +0.0% since trade filed Jun 10, 2026 | Planned sale (10b5-1) | 5,252 | $284.32 | $1.5M | +0.0% | Jun 10, 2026 |
| May 28, 2026 | Ralls-Morrison Desiree (Officer) 2,763 shares $278.36 +2.1% since trade filed Jun 1, 2026 | Planned sale (10b5-1) | 2,763 | $278.36 | $769K | +2.1% | Jun 1, 2026 |
| May 26, 2026 | Erlinger Joseph M. (Officer) 333 shares $280.11 +1.5% since trade filed May 27, 2026 | Planned sale (10b5-1) | 333 | $280.11 | $93K | +1.5% | May 27, 2026 |
| Apr 23, 2026 | Erlinger Joseph M. (Officer) 333 shares $302.72 −6.1% since trade filed Apr 23, 2026 | Planned sale (10b5-1) | 333 | $302.72 | $101K | −6.1% | Apr 23, 2026 |
| Apr 10, 2026 | Erlinger Joseph M. (Officer) 2,626 shares $307.00 −7.4% since trade filed Apr 13, 2026 | Planned sale (10b5-1) | 2,626 | $307.00 | $806K | −7.4% | Apr 13, 2026 |
| Mar 23, 2026 | Erlinger Joseph M. (Officer) 333 shares $313.47 −9.3% since trade filed Mar 24, 2026 | Planned sale (10b5-1) | 333 | $313.47 | $104K | −9.3% | Mar 24, 2026 |
| Mar 18, 2026 | Baroni Dario (Officer) 600 shares $323.77 −12.2% since trade filed Mar 19, 2026 | Planned sale (10b5-1) | 600 | $323.77 | $194K | −12.2% | Mar 19, 2026 |
| Mar 10, 2026 | Erlinger Joseph M. (Officer) 2,626 shares $328.34 −13.4% since trade filed Mar 11, 2026 | Planned sale (10b5-1) | 2,626 | $328.34 | $862K | −13.4% | Mar 11, 2026 |
| Feb 23, 2026 | Erlinger Joseph M. (Officer) 333 shares $330.43 −14.0% since trade filed Feb 25, 2026 | Planned sale (10b5-1) | 333 | $330.43 | $110K | −14.0% | Feb 25, 2026 |
| Feb 23, 2026 | Banner Jonathan (Officer) 1,601 shares $333.42 −14.7% since trade filed Feb 25, 2026 | Discretionary sale | 1,601 | $333.42 | $534K | −14.7% | Feb 25, 2026 |
| Feb 23, 2026 | Banner Jonathan (Officer) 4,600 shares $333.24 −14.7% since trade filed Feb 25, 2026 | Discretionary sale | 4,600 | $333.24 | $1.5M | −14.7% | Feb 25, 2026 |
| Feb 13, 2026 | Kempczinski Christopher J (CEO) 26K shares $333.54 −14.8% since trade filed Feb 17, 2026 | Planned sale (10b5-1) | 26K | $333.54 | $8.8M | −14.8% | Feb 17, 2026 |
| Feb 12, 2026 | Kempczinski Christopher J (CEO) 26K shares $331.35 −14.2% since trade filed Feb 17, 2026 | Planned sale (10b5-1) | 26K | $331.35 | $8.7M | −14.2% | Feb 17, 2026 |
| Feb 12, 2026 | Flatley Edith Morgan (Officer) 4,692 shares $331.00 −14.1% since trade filed Feb 17, 2026 | Planned sale (10b5-1) | 4,692 | $331.00 | $1.6M | −14.1% | Feb 17, 2026 |
| Feb 10, 2026 | Erlinger Joseph M. (Officer) 2,626 shares $325.25 −12.6% since trade filed Feb 11, 2026 | Planned sale (10b5-1) | 2,626 | $325.25 | $854K | −12.6% | Feb 11, 2026 |
| Jan 12, 2026 | Erlinger Joseph M. (Officer) 2,626 shares $306.58 −7.3% since trade filed Jan 13, 2026 | Planned sale (10b5-1) | 2,626 | $306.58 | $805K | −7.3% | Jan 13, 2026 |
| Dec 16, 2025 | Ralls-Morrison Desiree (Officer) 2,486 shares $320.00 −11.2% since trade filed Dec 18, 2025 | Planned sale (10b5-1) | 2,486 | $320.00 | $796K | −11.2% | Dec 18, 2025 |
| Dec 12, 2025 | Flatley Edith Morgan (Officer) 658 shares $315.00 −9.7% since trade filed Dec 15, 2025 | Planned sale (10b5-1) | 658 | $315.00 | $207K | −9.7% | Dec 15, 2025 |
| Dec 1, 2025 | Steijaert Manuel JM (Officer) 6,567 shares $305.50 −6.9% since trade filed Dec 2, 2025 | Planned sale (10b5-1) | 6,567 | $305.50 | $2.0M | −6.9% | Dec 2, 2025 |
| Nov 21, 2025 | Borden Ian Frederick (CFO) 17K shares $310.00 −8.3% since trade filed Nov 21, 2025 | Planned sale (10b5-1) | 17K | $310.00 | $5.3M | −8.3% | Nov 21, 2025 |
| Nov 14, 2025 | Erlinger Joseph M. (Officer) 3,195 shares $305.82 −7.0% since trade filed Nov 18, 2025 | Discretionary sale | 3,195 | $305.82 | $977K | −7.0% | Nov 18, 2025 |
| Nov 5, 2025 | Steijaert Manuel JM (Officer) 13K shares $300.42 −5.4% since trade filed Nov 7, 2025 | Planned sale (10b5-1) | 13K | $300.42 | $3.9M | −5.4% | Nov 7, 2025 |
| Sep 2, 2025 | Flatley Edith Morgan (Officer) 1,000 shares $315.00 −9.7% since trade filed Sep 2, 2025 | Planned sale (10b5-1) | 1,000 | $315.00 | $315K | −9.7% | Sep 2, 2025 |
| Aug 20, 2025 | Flatley Edith Morgan (Officer) 24 shares $315.00 −9.7% since trade filed Aug 20, 2025 | Planned sale (10b5-1) | 24 | $315.00 | $8K | −9.7% | Aug 20, 2025 |
| Aug 20, 2025 | Flatley Edith Morgan (Officer) 4,692 shares $315.00 −9.7% since trade filed Aug 20, 2025 | Planned sale (10b5-1) | 4,692 | $315.00 | $1.5M | −9.7% | Aug 20, 2025 |
| Aug 19, 2025 | Banner Jonathan (Officer) 1,000 shares $310.00 −8.3% since trade filed Aug 19, 2025 | Discretionary sale | 1,000 | $310.00 | $310K | −8.3% | Aug 19, 2025 |
| Aug 6, 2025 | Ralls-Morrison Desiree (Officer) 2,487 shares $310.00 −8.3% since trade filed Aug 6, 2025 | Planned sale (10b5-1) | 2,487 | $310.00 | $771K | −8.3% | Aug 6, 2025 |
| Aug 1, 2025 | Flatley Edith Morgan (Officer) 976 shares $303.50 −6.3% since trade filed Aug 4, 2025 | Planned sale (10b5-1) | 976 | $303.50 | $296K | −6.3% | Aug 4, 2025 |
| Jul 23, 2025 | Erlinger Joseph M. (Officer) 939 shares $299.49 −5.1% since trade filed Jul 23, 2025 | Planned sale (10b5-1) | 939 | $299.49 | $281K | −5.1% | Jul 23, 2025 |
| Jul 10, 2025 | Flatley Edith Morgan (Officer) 1,000 shares $300.00 −5.2% since trade filed Jul 10, 2025 | Planned sale (10b5-1) | 1,000 | $300.00 | $300K | −5.2% | Jul 10, 2025 |
| Jun 23, 2025 | Erlinger Joseph M. (Officer) 939 shares $288.52 −1.5% since trade filed Jun 23, 2025 | Planned sale (10b5-1) | 939 | $288.52 | $271K | −1.5% | Jun 23, 2025 |
| May 23, 2025 | Erlinger Joseph M. (Officer) 939 shares $315.07 −9.8% since trade filed May 23, 2025 | Planned sale (10b5-1) | 939 | $315.07 | $296K | −9.8% | May 23, 2025 |
| May 20, 2025 | Steijaert Manuel JM (Officer) 6,000 shares $319.66 −11.1% since trade filed May 22, 2025 | Discretionary sale | 6,000 | $319.66 | $1.9M | −11.1% | May 22, 2025 |
| Apr 23, 2025 | Erlinger Joseph M. (Officer) 939 shares $318.50 −10.7% since trade filed Apr 23, 2025 | Planned sale (10b5-1) | 939 | $318.50 | $299K | −10.7% | Apr 23, 2025 |
| Mar 24, 2025 | Erlinger Joseph M. (Officer) 939 shares $306.30 −7.2% since trade filed Mar 24, 2025 | Planned sale (10b5-1) | 939 | $306.30 | $288K | −7.2% | Mar 24, 2025 |
| Feb 27, 2025 | Boyd Tiffanie L. (Officer) 1,000 shares $309.27 −8.1% since trade filed Feb 28, 2025 | Discretionary sale | 1,000 | $309.27 | $309K | −8.1% | Feb 28, 2025 |
| Feb 24, 2025 | Erlinger Joseph M. (Officer) 939 shares $305.00 −6.8% since trade filed Feb 25, 2025 | Planned sale (10b5-1) | 939 | $305.00 | $286K | −6.8% | Feb 25, 2025 |
| Feb 24, 2025 | Steijaert Manuel JM (Officer) 10K shares $308.71 −7.9% since trade filed Feb 25, 2025 | Discretionary sale | 10K | $308.71 | $3.2M | −7.9% | Feb 25, 2025 |
| Feb 21, 2025 | Gross Marion K. (Officer) 1,099 shares $304.60 −6.7% since trade filed Feb 21, 2025 | Discretionary sale | 1,099 | $304.60 | $335K | −6.7% | Feb 21, 2025 |
| Feb 21, 2025 | Banner Jonathan (Officer) 1,500 shares $304.33 −6.6% since trade filed Feb 21, 2025 | Discretionary sale | 1,500 | $304.33 | $456K | −6.6% | Feb 21, 2025 |
| Feb 19, 2025 | Flatley Edith Morgan (Officer) 3,200 shares $300.76 −5.5% since trade filed Feb 19, 2025 | Discretionary sale | 3,200 | $300.76 | $962K | −5.5% | Feb 19, 2025 |
| Feb 13, 2025 | Banner Jonathan (Officer) 9,200 shares $307.41 −7.5% since trade filed Feb 14, 2025 | Discretionary sale | 9,200 | $307.41 | $2.8M | −7.5% | Feb 14, 2025 |
| Feb 11, 2025 | Kempczinski Christopher J (CEO) 11K shares $310.05 −8.3% since trade filed Feb 13, 2025 | Discretionary sale | 11K | $310.05 | $3.3M | −8.3% | Feb 13, 2025 |
| Jan 23, 2025 | Erlinger Joseph M. (Officer) 300 shares $280.75 +1.3% since trade filed Jan 24, 2025 | Discretionary sale | 300 | $280.75 | $84K | +1.3% | Jan 24, 2025 |
| Jan 2, 2025 | Gross Marion K. (Officer) 1,499 shares $290.95 −2.3% since trade filed Jan 3, 2025 | Planned sale (10b5-1) | 1,499 | $290.95 | $436K | −2.3% | Jan 3, 2025 |
| Dec 31, 2024 | Ralls-Morrison Desiree (Officer) 3,408 shares $289.63 −1.8% since trade filed Dec 31, 2024 | Planned sale (10b5-1) | 3,408 | $289.63 | $987K | −1.8% | Dec 31, 2024 |
| Dec 30, 2024 | Ralls-Morrison Desiree (Officer) 3,409 shares $290.15 −2.0% since trade filed Dec 31, 2024 | Planned sale (10b5-1) | 3,409 | $290.15 | $989K | −2.0% | Dec 31, 2024 |
| Dec 23, 2024 | Erlinger Joseph M. (Officer) 1,099 shares $291.10 −2.3% since trade filed Dec 23, 2024 | Planned sale (10b5-1) | 1,099 | $291.10 | $320K | −2.3% | Dec 23, 2024 |
| Nov 25, 2024 | Erlinger Joseph M. (Officer) 1,099 shares $292.50 −2.8% since trade filed Nov 26, 2024 | Planned sale (10b5-1) | 1,099 | $292.50 | $321K | −2.8% | Nov 26, 2024 |
| Nov 1, 2024 | Gross Marion K. (Officer) 1,499 shares $294.51 −3.5% since trade filed Nov 5, 2024 | Planned sale (10b5-1) | 1,499 | $294.51 | $441K | −3.5% | Nov 5, 2024 |
| Oct 23, 2024 | Erlinger Joseph M. (Officer) 1,099 shares $292.38 −2.8% since trade filed Oct 25, 2024 | Planned sale (10b5-1) | 1,099 | $292.38 | $321K | −2.8% | Oct 25, 2024 |
| Oct 14, 2024 | Flatley Edith Morgan (Officer) 2,346 shares $310.00 −8.3% since trade filed Oct 15, 2024 | Planned sale (10b5-1) | 2,346 | $310.00 | $727K | −8.3% | Oct 15, 2024 |
| Sep 27, 2024 | Kempczinski Christopher J (CEO) 9,291 shares $305.00 −6.8% since trade filed Sep 27, 2024 | Planned sale (10b5-1) | 9,291 | $305.00 | $2.8M | −6.8% | Sep 27, 2024 |
| Sep 24, 2024 | Kempczinski Christopher J (CEO) 6,629 shares $300.00 −5.2% since trade filed Sep 25, 2024 | Planned sale (10b5-1) | 6,629 | $300.00 | $2.0M | −5.2% | Sep 25, 2024 |
| Sep 23, 2024 | Kempczinski Christopher J (CEO) 12K shares $300.03 −5.2% since trade filed Sep 25, 2024 | Planned sale (10b5-1) | 12K | $300.03 | $3.5M | −5.2% | Sep 25, 2024 |
| Sep 23, 2024 | Borden Ian Frederick (CFO) 5,939 shares $300.04 −5.2% since trade filed Sep 24, 2024 | Planned sale (10b5-1) | 5,939 | $300.04 | $1.8M | −5.2% | Sep 24, 2024 |
| Sep 23, 2024 | Erlinger Joseph M. (Officer) 1,099 shares $298.57 −4.8% since trade filed Sep 24, 2024 | Planned sale (10b5-1) | 1,099 | $298.57 | $328K | −4.8% | Sep 24, 2024 |
| Sep 16, 2024 | Kempczinski Christopher J (CEO) 3,934 shares $300.00 −5.2% since trade filed Sep 18, 2024 | Planned sale (10b5-1) | 3,934 | $300.00 | $1.2M | −5.2% | Sep 18, 2024 |
| Sep 16, 2024 | Borden Ian Frederick (CFO) 1,325 shares $300.00 −5.2% since trade filed Sep 18, 2024 | Planned sale (10b5-1) | 1,325 | $300.00 | $398K | −5.2% | Sep 18, 2024 |
| Sep 3, 2024 | Gross Marion K. (Officer) 1,498 shares $286.36 −0.7% since trade filed Sep 3, 2024 | Planned sale (10b5-1) | 1,498 | $286.36 | $429K | −0.7% | Sep 3, 2024 |
“Since trade” compares with the latest insider-implied price, not a market quote: these pages are built from filings alone. A role here is the one on that day's Form 4, so somebody promoted since appears under both titles.
Filing hygiene
211 Forms 4, 3 years
2 filed late
0 amendments
9.5 avg. days to file
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.