Yum Brands (YUM) COO Tracy Skeans reports new RSU and SAR grants

Rhea-AI Filing Summary

Yum! Brands executive Tracy L. Skeans, the company’s COO and CPO, reported new equity awards and related share activity. On February 6, 2026, she acquired 10,643 shares of common stock at $0 and had 3,654 shares withheld at $162.93 per share, leaving 6,989 directly held shares.

She also received 6,292 restricted stock units that convert one-for-one into common stock and vest 25% per year beginning one year from grant, plus 26,425 stock appreciation rights with a $162.93 exercise price expiring in 2036. In addition, she holds 2,103 shares indirectly through a 401(k) plan and 2,970 shares indirectly via the Skeans Trust.

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

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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^*

Skeans Tracy L

(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)
	COO and CPO

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
Common Stock	02/06/2026		A		10,643	A	$0	10,643	D
Common Stock	02/06/2026		F		3,654	D	$162.93	6,989	D
Common Stock								2,103	I	401(k) Plan
Common Stock								2,970	I	Skeans Trust

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)	02/06/2026		A		6,292		(2)	(3)	Common Stock	6,292	$0	6,292	D
Stock Appreciation Right	$162.93	02/06/2026		A		26,425		(2)	02/06/2036	Common Stock	26,425	$0	26,425	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. This grant does not have an expiration date.

	/s/ M. Gayle Hobson, 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.
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FAQ

What insider transactions did Yum (YUM) COO Tracy Skeans report?

Tracy L. Skeans reported acquiring 10,643 Yum common shares at $0 and having 3,654 shares withheld at $162.93, leaving 6,989 directly held shares. She also disclosed new restricted stock units and stock appreciation rights granted on February 6, 2026.

How many restricted stock units did Yum (YUM) grant to Tracy Skeans?

Tracy Skeans received 6,292 restricted stock units that convert one-for-one into Yum common stock. These RSUs vest 25% per year, beginning one year after the February 6, 2026 grant date, creating a four-year vesting schedule tied to continued service.

What stock appreciation rights did Tracy Skeans receive from Yum (YUM)?

She was granted 26,425 stock appreciation rights with a $162.93 exercise price, exercisable into an equal number of Yum common shares. These rights expire in 2036, providing long-term equity-based compensation aligned with the company’s share price performance over time.

How many Yum (YUM) shares does Tracy Skeans hold directly and indirectly?

After the reported transactions, she holds 6,989 Yum shares directly. Indirectly, she holds 2,103 shares through a 401(k) plan and 2,970 shares via the Skeans Trust, reflecting a mix of personal, retirement, and trust-based ownership positions.

What does the Form 4 code "F" mean in Tracy Skeans’ Yum (YUM) filing?

The code “F” indicates shares were withheld to satisfy tax obligations on an equity award. In this filing, 3,654 Yum shares were disposed of at $162.93 per share, reducing the gross award into a net direct holding after required tax withholding.

How do Tracy Skeans’ Yum (YUM) RSUs vest over time?

The 6,292 RSUs vest 25% per year starting one year from the February 6, 2026 grant date. That means one-quarter of the units convert into Yum common stock each year over four years, subject to the vesting conditions described in the award terms.