YUM (YUM) director gains 1,902.6576 phantom stock units in deferred award

Rhea-AI Filing Summary

YUM! Brands, Inc. director Alves Paget Leonard reported an award of 1,902.6576 phantom stock units on February 6, 2026. These are derivative securities that convert into YUM! Brands common stock on a one-for-one basis and were granted at a price of $0 per unit.

The phantom units were credited under the YUM! Brands, Inc. Director Deferred Compensation Plan and have no expiration date. Following this transaction, Leonard beneficially owns 1,902.6576 phantom stock units, held as a direct ownership interest.

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^*

Alves Paget Leonard

(Last) (First) (Middle)

8600 THACKERY STREET

(Street)

DALLAS TX 75225

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

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

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
Phantom Stock	(1)	02/06/2026		A		1,902.6576		(2)	(3)	Common Stock	1,902.6576	$0	1,902.6576	D

Explanation of Responses:

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

2. Payments are made in accordance with elections on file.

3. Phantom units accrued under the YUM! Brands, Inc. Director Deferred Compensation Plan do not have expiration dates.

	/s/ Brittany Bodkin, POA	02/09/2026
	** 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.
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.

FAQ

What insider transaction did YUM (YUM! Brands, Inc.) report for Alves Paget Leonard?

YUM! Brands, Inc. reported that director Alves Paget Leonard received 1,902.6576 phantom stock units on February 6, 2026. These derivative units were granted at a price of $0 per unit under the company’s Director Deferred Compensation Plan and are held as a direct beneficial interest.

How many YUM phantom stock units does Alves Paget Leonard now beneficially own?

After the reported transaction, Alves Paget Leonard beneficially owns 1,902.6576 phantom stock units of YUM! Brands, Inc. These units are derivative securities tied to common stock on a one-for-one basis and are credited under the YUM! Brands, Inc. Director Deferred Compensation Plan.

What is the conversion rate for Alves Paget Leonard’s YUM phantom stock units?

The phantom stock units convert into YUM! Brands, Inc. common stock on a one-for-one basis. Each phantom unit represents the right to receive one share of common stock, with payments made in accordance with the elections on file in the Director Deferred Compensation Plan.

Do Alves Paget Leonard’s YUM phantom stock units have an expiration date?

The phantom stock units accrued by Alves Paget Leonard under the YUM! Brands, Inc. Director Deferred Compensation Plan do not have expiration dates. The Form 4 footnotes state that phantom units under this plan remain outstanding without a specified end date, subject to the plan’s payment elections.

What was the transaction price for the YUM phantom stock units granted to Alves Paget Leonard?

The 1,902.6576 phantom stock units granted to Alves Paget Leonard were reported at a price of $0 per unit. This indicates they were awarded rather than purchased, consistent with compensation credited under the YUM! Brands, Inc. Director Deferred Compensation Plan for board service.

Is Alves Paget Leonard a director or officer of YUM! Brands, Inc. in this Form 4?

In this Form 4, Alves Paget Leonard is identified as a director of YUM! Brands, Inc. The filing indicates the relationship box for “Director” is checked, while the boxes for officer, 10% owner, and other relationships are not selected for this reporting person.