X0306 4 2020-02-18 0 0000063908 MCDONALDS CORP MCD 0001698387 Krulewitch Jerome N MCDONALD'S CORPORATION 110 NORTH CARPENTER STREET CHICAGO IL 60607 0 1 0 0 EVP, Gen Counsel and Secretary Common Stock 2840.60 I Profit Sharing Plan Options (Right to Buy) 216.15 2020-02-18 4 A 0 34014 0 A 2030-02-18 Common Stock 34014 34014 D Restricted Stock Units 2020-02-18 4 A 0 4330 0 A 2023-02-18 2023-02-18 Common Stock 4330 4330 D Restricted Stock Units 2020-02-18 4 A 0 2172 0 A 2020-03-08 2020-03-08 Common Stock 2172 5686 D Phantom Stock Common Stock 8404.18 8404.18 I Non-Qualified Benefit Plan Includes shares acquired through dividend reinvestment. Options become exercisable in 25% increments on the first, second, third and fourth anniversary dates of the grant. Each performance-based restricted stock unit ("RSU") represents a right to acquire one share of McDonald's Corporation common stock. Represents the target number of RSUs granted, subject to performance-based vesting conditions linked to diluted earnings per share ("EPS") growth and return on incremental invested capital ("ROIIC") for the period of January 1, 2020 through December 31, 2022 (the "Performance Period"). If McDonald's Corporation satisfies both the EPS and ROIIC thresholds, then the number of RSUs that vest may be increased or decreased based upon the McDonald's Corporation total shareholder return relative to the S&P 500 Index over the Performance Period. The number of RSUs earned will range from 0% to 200% of the target number of RSUs granted. As a result of McDonald's Corporation's performance against the pre-approved financial targets as certified on February 18, 2020 for the period of January 1, 2017 through December 31, 2019, the reporting person will vest in 161.8% of the original target amount of 3,514 performance-based RSUs, subject to completion of the service period through March 8, 2020. Accordingly, the reported transaction reflects the acquisition of an additional 2,172 RSUs earned above the target grant. Each share of phantom stock represents a right to receive the cash value of one share of McDonald's Corporation common stock. Shares of phantom stock are payable in cash following the reporting person's separation from service with McDonald's Corporation. /s/ Jennifer Card, Attorney-in-fact 2020-02-20