FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * OZAN KEVIN M 2. Issuer Name and Ticker or Trading Symbol MCDONALDS CORP [ MCD ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
EVP & CFO
(Last)         (First)         (Middle)
MCDONALD'S CORPORATION, 110 NORTH CARPENTER STREET
3. Date of Earliest Transaction (MM/DD/YYYY)
2/16/2021
(Street)
CHICAGO, IL 60607
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock                 21154  D   
Common Stock                 3791.91 (1) I  Profit Sharing Plan 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options (Right to Buy)  $215.03  2/16/2021    A     113232       (2) 2/16/2031  Common Stock  113232  $0  113232  D   
Restricted Stock Units   (3) 2/16/2021    D     9152 (4)     2/19/2021  2/19/2021  Common Stock  9152 (4) $0  0  D   
Phantom Stock   (5)                  (6)  (6) Common Stock  2501.59 (1)   2501.59 (1) I  Non-Qualified Benefit Plan 

Explanation of Responses:
(1)  Includes shares acquired through dividend reinvestment.
(2)  Options become exercisable in 25% increments on the first, second, third and fourth anniversary dates of the grant.
(3)  Each performance-based restricted stock unit ("RSU") represents a right to acquire one share of McDonald's Corporation common stock.
(4)  As a result of McDonald's Corporation's performance against the pre-approved financial targets as certified on February 16, 2021 for the period of January 1, 2018 through December 31, 2020, the reporting person will vest in 0% of the original target amount of 9,152 performance-based RSUs. The transaction reported reflects the forfeiture of the target amount originally reported by the reporting person on February 21, 2018.
(5)  Each share of phantom stock represents a right to receive the cash value of one share of McDonald's Corporation common stock.
(6)  Shares of phantom stock are payable in cash following the reporting person's separation from service with McDonald's Corporation.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
OZAN KEVIN M
MCDONALD'S CORPORATION
110 NORTH CARPENTER STREET
CHICAGO, IL 60607


EVP & CFO

Signatures
/s/ Jennifer Card, Attorney-in-fact 2/18/2021
**Signature of Reporting Person Date