MCD · Mcdonalds Corp

Each share of phantom stock is the economic equivalent of one share of McDonald's Corporation common stock and shall be settled in cash, pursuant to the Board of Directors Deferred Compensation Plan (the "Plan").

Acquisition of phantom stock pursuant to the Plan in a transaction exempt under Rule 16b-3(d)(1). Amount represents deferred compensation.

Payment of phantom stock will occur following the Director's retirement date or other termination from the Board.

Includes shares acquired through dividend reinvestment.

Each share of phantom stock is the economic equivalent of one share of McDonald's Corporation common stock and shall be settled in cash, pursuant to the Board of Directors' Deferred Compensation Plan (the "Plan").

Acquisition of phantom stock pursuant to the Plan in a transaction exempt under Rule 16b-3(d)(1). Amount represents deferred compensation.

Payment of phantom stock will occur following the Director's retirement date or other termination from the Board.

Includes shares acquired through dividend reinvestment.

Each share of phantom stock is the economic equivalent of one share of McDonald's Corporation common stock and shall be settled in cash, pursuant to the Board of Directors' Deferred Compensation Plan (the "Plan").

Acquisition of phantom stock pursuant to the Plan in a transaction exempt under Rule 16b-3(d)(1). Amount represents deferred compensation.

Payment of phantom stock will occur following the Director's retirement date or other termination from the Board.

Includes shares acquired through dividend reinvestment.

Options were granted on February 19, 2018 and became exercisable in 25% increments on the first, second, third and fourth anniversary of the grant.

This transaction was executed in multiple trades ranging from $277.60 to $280.19 per share. The price reported represents the weighted average sales price of this trade. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.

Options were granted on February 19, 2018 and became exercisable in 25% increments on the first, second, third and fourth anniversary of the grant.

Each share of phantom stock is the economic equivalent of one share of McDonald's Corporation common stock and shall be settled in cash, pursuant to the Board of Directors Deferred Compensation Plan (the "Plan").

Acquisition of phantom stock pursuant to the Plan in a transaction exempt under Rule 16b-3(d)(1). Amount represents deferred compensation.

Payment of phantom stock will occur following the Director's retirement date or other termination from the Board.

Includes shares acquired through dividend reinvestment.

Each share of phantom stock is the economic equivalent of one share of McDonald's Corporation common stock and shall be settled in cash, pursuant to the Board of Directors' Deferred Compensation Plan (the "Plan").

Acquisition of phantom stock pursuant to the Plan in a transaction exempt under Rule 16b-3(d)(1). Amount represents deferred compensation.

Payment of phantom stock will occur following the Director's retirement date or other termination from the Board.

Includes shares acquired through dividend reinvestment.

Each share of phantom stock is the economic equivalent of one share of McDonald's Corporation common stock and shall be settled in cash, pursuant to the Board of Directors' Deferred Compensation Plan (the "Plan").

Acquisition of phantom stock pursuant to the Plan in a transaction exempt under Rule 16b-3(d)(1). Amount represents deferred compensation.

Payment of phantom stock will occur following the Director's retirement date or other termination from the Board.

Includes shares acquired through dividend reinvestment.

Options were granted on February 19, 2018 and became exercisable in 25% increments on the first, second, third and fourth anniversary of the grant.

Options were granted February 13, 2023 and become exercisable in 25% increments on the first, second, third and fourth anniversary of the grant.

Each share of phantom stock represents a right to receive the cash value of one share of the Company's common stock.

Shares of phantom stock are payable in cash following the reporting person's separation from service with the Company.

Options become exercisable in 25% increments on the first, second, third and fourth anniversary dates of the grant.

Options become exercisable in 25% increments on the first, second, third and fourth anniversary dates of the grant.

Options become exercisable in 25% increments on the first, second, third and fourth anniversary dates of the grant.

Each RSU represents a right to acquire one share of McDonald's Corporation (the "Company") common stock.

On February 13, 2023, the reporting person was granted 1,221 restricted stock units ("RSUs"), vesting in one installment on the third anniversary of the grant date.

Options become exercisable in 25% increments on the first, second, third and fourth anniversary dates of the grant.

Each performance-based RSU represents a right to acquire one share of the Company's common stock.

As a result of the Company's performance against the pre-approved financial targets for the performance period of January 1, 2023 through December 31, 2025, the reporting person vested in 82.2% of the original grant of 2,714 performance-based RSUs.

On February 13, 2023, the reporting person was granted 1,879 restricted stock units ("RSUs"), vesting in one installment on the third anniversary of the grant date.

Each RSU represents a right to acquire one share of McDonald's Corporation (the "Company") common stock.

Settlement of dividend equivalent rights in connection with vested RSUs. Each dividend equivalent right is the economic equivalent of one share of the Company's common stock.

Options become exercisable in 25% increments on the first, second, third and fourth anniversary dates of the grant.

Options become exercisable in 25% increments on the first, second, third and fourth anniversary dates of the grant.

Each RSU represents a right to acquire one share of McDonald's Corporation (the "Company") common stock.

Settlement of dividend equivalent rights in connection with vested RSUs. Each dividend equivalent right is the economic equivalent of one share of the Company's common stock.

Settlement of dividend equivalent rights in connection with vested PRSUs. Each dividend equivalent right is the economic equivalent of one share of the Company's common stock.

Settlement of dividend equivalent rights in connection with vested RSUs. Each dividend equivalent right is the economic equivalent of one share of the Company's common stock.

On February 13, 2023, the reporting person was granted 517 RSUs, vesting in one installment on the third anniversary of the grant date.

Each RSU represents a right to acquire one share of McDonald's Corporation (the "Company") common stock.