MCDONALDS CORP — Director's Dealing 2023

May 19, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MCDONALDS CORP (MCD)
CIK: 0000063908
Period of Report: 2023-05-17

Reporting Person: Ralls-Morrison Desiree (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-17	Common Stock	M	5395	—	Acquired	8521	Direct
2023-05-17	Common Stock	M	245	—	Acquired	8766	Direct
2023-05-17	Common Stock	F	2499	$293.46	Disposed	6267	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-17	Restricted Stock Units	$	M	5395	Disposed	2023-05-17	Common Stock (5395)	Direct
2023-05-17	Dividend Equivalent Rights	$	M	245	Disposed	2023-05-17	Common Stock (245)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock	$		Common Stock (81.24)	81.24	Indirect

Footnotes

F1: On May 17, 2021, Ms. Ralls-Morrison was granted 10,791 restricted stock units ("RSUs"), vesting in two equal installments on the first two anniversaries of the grant date.

F2: Each RSU represents a right to acquire one share of McDonald's Corporation (the "Company") common stock.

F3: 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.

F4: Each share of phantom stock represents a right to receive the cash value of one share of the Company's common stock.

F5: Shares of phantom stock are payable in cash following the reporting person's separation from service with the Company.

F6: Includes shares acquired through dividend reinvestment.