Yum! Brands CEO gets new equity grants in Form 4 amendment

Q: What executive transaction did YUM report in this Form 4/A?

The Form 4/A reports that the CEO and Chairman of Yum! Brands, Inc. (YUM) received a stock appreciation right and a restricted stock unit grant on 11/21/2025.

Q: How many Yum! Brands (YUM) shares are tied to the new stock appreciation right?

The stock appreciation right covers 10,136 shares of Yum! Brands common stock with an exercise price of $152.98 per share and an expiration date of 11/21/2035.

Q: What are the terms of the restricted stock units granted to the YUM CEO?

The CEO was granted 2,452 restricted stock units, which convert into common stock on a one-for-one basis and do not have an expiration date.

Q: Why is this Yum! Brands Form 4 marked as amended?

The Form 4 is identified as amended with the remark “Amended to correct title”, indicating a correction to the reporting person’s title.

Q: Are the reported YUM equity awards held directly by the CEO?

Yes. The table shows that the 10,136 stock appreciation rights and 2,452 restricted stock units are beneficially owned with a direct ownership form.

Filing Impact

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Filing Sentiment

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Form Type

4/A

Rhea-AI Filing Summary

Yum! Brands CEO and Chairman equity grants disclosed in amended Form 4. The filing reports that the CEO and Chairman of the Board of Yum! Brands, Inc. (YUM) received a stock appreciation right covering 10,136 shares of common stock on 11/21/2025 with an exercise price of $152.98 per share and an expiration date of 11/21/2035. Vesting for this award occurs at 25% per year beginning one year from the grant date. The executive also received 2,452 restricted stock units on the same date, which convert into common stock on a one-for-one basis and do not have an expiration date. Both awards are held directly by the reporting person. The document is marked as amended to correct the officer’s title.

Insider Trade Summary

Grant/Award: 12,588 shares

Grant/Award 2 txns

Insider Turner Christopher Lee

Role CEO, Chairman of Board

Type	Security	Shares	Price	Value
Grant/Award	Stock Appreciation Right	10,136	$0.00	$0.00
Grant/Award	Restricted Stock Units	2,452	$0.00	$0.00

Holdings After Transaction: Stock Appreciation Right — 10,136 contracts (Direct); Restricted Stock Units — 2,452 contracts (Direct)

Footnotes (3)

F1. Vesting occurs 25% per year beginning one year from grant date.
F2. Conversion occurs on a one-for-one basis.
F3. This grant does not have an expiration date.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What executive transaction did YUM report in this Form 4/A?

The Form 4/A reports that the CEO and Chairman of Yum! Brands, Inc. (YUM) received a stock appreciation right and a restricted stock unit grant on 11/21/2025.

How many Yum! Brands (YUM) shares are tied to the new stock appreciation right?

The stock appreciation right covers 10,136 shares of Yum! Brands common stock with an exercise price of $152.98 per share and an expiration date of 11/21/2035.

What are the terms of the restricted stock units granted to the YUM CEO?

The CEO was granted 2,452 restricted stock units, which convert into common stock on a one-for-one basis and do not have an expiration date.

How do the Yum! Brands stock appreciation rights vest for the CEO?

The filing states that vesting for the stock appreciation right occurs at 25% per year, beginning one year from the grant date of 11/21/2025.

Why is this Yum! Brands Form 4 marked as amended?

The Form 4 is identified as amended with the remark “Amended to correct title”, indicating a correction to the reporting person’s title.

Are the reported YUM equity awards held directly by the CEO?

Yes. The table shows that the 10,136 stock appreciation rights and 2,452 restricted stock units are beneficially owned with a direct ownership form.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 11/25/2025 - 10:39 AM EST

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Turner Christopher Lee

(Last)

(First)

(Middle)

1441 GARDINER LANE

(Street)

LOUISVILLE

40213

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
YUM BRANDS INC [ YUM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CEO, Chairman of Board

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
11/24/2025

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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Appreciation Right	$152.98	11/21/2025		A		10,136		⁽¹⁾	11/21/2035	Common Stock	10,136	$0	10,136	D
Restricted Stock Units	⁽²⁾	11/21/2025		A		2,452		⁽¹⁾	⁽³⁾	Common Stock	2,452	$0	2,452	D

Explanation of Responses:

1. Vesting occurs 25% per year beginning one year from grant date.

2. Conversion occurs on a one-for-one basis.

3. This grant does not have an expiration date.

Remarks:

Amended to correct title.

	/s/ Brittany Bodkin, POA	11/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR