YUM Pizza Hut CEO converts RSUs into common stock

YUM’s Pizza Hut CEO Aaron Powell reported routine equity transactions.

Rhea-AI Filing Summary

YUM’s Pizza Hut CEO Aaron Powell reported routine equity transactions. On February 9, 2026, he converted 1,246 restricted stock units into common stock at an exercise price of $0 and a related acquisition of 1,246 common shares at $158.90 per share.

On the same date, a separate disposition coded F covered 492 common shares at $158.90 per share. After these transactions, Powell directly held 21,583.48 common shares and 2,493.18 restricted stock units, with the RSUs converting to common stock on a one-for-one basis and vesting over four years.

Insider Trade Summary

1,246 shares exercised/converted

Exercise 3 txns

Insider Powell Aaron

Role CEO - Pizza Hut

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,246	$0.00	$0.00
Exercise	Common Stock	1,246	$158.90	$198K
Exercise Price or Tax Liability	Common Stock	492	$158.90	$78K

Holdings After Transaction: Restricted Stock Units — 2,493.18 contracts (Direct); Common Stock — 21,583.48 shares (Direct)

Footnotes (3)

1. F1. Conversion occurs on a one-for-one basis.
2. F2. Vesting occurs 25% per year beginning one year from grant date.
3. F3. The final distribution under this grant will occur four years from the grant date. There are no specified expiration dates for this grant.

FAQ

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

What insider transactions did YUM’s Aaron Powell report on February 9, 2026?

Aaron Powell reported converting 1,246 restricted stock units into common stock and related movements in YUM shares on February 9, 2026. The filing shows one acquisition coded M for 1,246 shares and a separate disposition coded F for 492 shares, both at $158.90.

How many YUM common shares does Aaron Powell hold after this Form 4?

After the reported transactions, Aaron Powell directly holds 21,583.48 YUM common shares. The Form 4 also shows he beneficially owns 2,493.18 restricted stock units, which are separate derivative securities that may convert into an equal number of common shares on a one-for-one basis.

What restricted stock unit activity did the YUM Form 4 disclose for Aaron Powell?

The Form 4 discloses that 1,246 restricted stock units for Aaron Powell were converted into common stock at a $0 exercise price. Footnotes explain these units convert one-for-one into shares, vest 25% per year from the grant’s first anniversary, with final distribution four years from grant.

What do the transaction codes M and F mean in Aaron Powell’s YUM Form 4?

In Aaron Powell’s Form 4, transaction code M applies to the 1,246-share acquisition tied to restricted stock unit conversion, while code F applies to the 492-share disposition. These standard SEC codes classify the nature of each equity movement but are shown without additional definitions in the filing.

Is Aaron Powell’s ownership in YUM shares reported as direct or indirect?

Aaron Powell’s ownership in the reported transactions is classified as direct. The Form 4 lists direct ownership (coded D) for the 21,583.48 YUM common shares and for 2,493.18 restricted stock units, and the filing does not reference any intermediary entities or indirect ownership arrangements.

How do Aaron Powell’s restricted stock units at YUM vest over time?

According to the footnotes, Aaron Powell’s restricted stock units vest 25% per year, beginning one year from the grant date. The final distribution under this grant occurs four years from the grant date, and the disclosure notes there are no specified expiration dates for this grant.

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

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Accepted by SEC EDGAR 02/10/2026 - 02:55 PM EST Learn about SEC filing dates

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Powell Aaron

(Last) (First) (Middle)

1441 GARDINER LANE

(Street)

LOUISVILLE KY 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO - Pizza Hut

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/09/2026		M		1,246	A	$158.9	22,075.48	D
Common Stock	02/09/2026		F		492	D	$158.9	21,583.48	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	02/09/2026		M			1,246	(2)	(3)	Common Stock	1,246	$0	2,493.18	D

Explanation of Responses:

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

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

3. The final distribution under this grant will occur four years from the grant date. There are no specified expiration dates for this grant.

	/s/ Brittany Bodkin, POA	02/10/2026
	** 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.
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