Yum Brands (YUM) executive reports restricted stock unit activity and vesting

Rhea-AI Filing Summary

Yum Brands Inc. disclosed insider equity activity for an officer who serves as Taco Bell CEO and Yum Chief Commercial Officer, reporting multiple transactions in restricted stock units tied to company common stock. These restricted stock units convert into common shares on a one-for-one basis. The disclosure explains that certain grants vest at 25% per year beginning one year from the grant date, with the final distribution occurring four years from the grant date. For those grants, there are no specified expiration dates, meaning the units are designed to settle over a four-year vesting schedule rather than expiring like traditional options.

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^*

Tresvant Sean

(Last) (First) (Middle)

1,441

(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)
	Taco Bell, CEO, YUM CCO

3. Date of Earliest Transaction (Month/Day/Year)
03/07/2025

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
Restricted Stock Units	(1)	03/07/2025		J	V	5.19		(2)	(3)	Common Stock	5.19	$162.53	1,193.19	D
Restricted Stock Units	(1)	03/07/2025		J	V	17.42		08/18/2026	(3)	Common Stock	17.42	$162.53	4,004.61	D
Restricted Stock Units	(1)	03/07/2025		J	V	12.83		(2)	(3)	Common Stock	12.83	$162.53	2,949.83	D
Restricted Stock Units	(1)	03/07/2025		J	V	30.23		(2)	02/10/2029	Common Stock	30.23	$162.53	6,949.23	D
Restricted Stock Units	(1)	03/07/2025		J	V	147.43		02/10/2029	02/10/2029	Common Stock	147.43	$162.53	33,897.43	D
Restricted Stock Units	(1)	06/06/2025		J	V	5.85		(2)	(3)	Common Stock	5.85	$144.83	1,199.04	D
Restricted Stock Units	(1)	06/06/2025		J	V	19.63		08/18/2026	(3)	Common Stock	19.63	$144.83	4,024.24	D
Restricted Stock Units	(1)	06/06/2025		J	V	14.46		(2)	(3)	Common Stock	14.46	$144.83	2,964.29	D
Restricted Stock Units	(1)	06/06/2025		J	V	34.07		(2)	02/10/2029	Common Stock	34.07	$144.83	6,983.3	D
Restricted Stock Units	(1)	06/06/2025		J	V	166.18		02/10/2029	02/10/2029	Common Stock	166.18	$144.83	34,063.61	D
Restricted Stock Units	(1)	09/12/2025		J	V	5.69		(2)	(3)	Common Stock	5.69	$149.49	1,204.73	D
Restricted Stock Units	(1)	09/12/2025		J	V	19.11		08/18/2026	(3)	Common Stock	19.11	$149.49	4,043.35	D
Restricted Stock Units	(1)	09/12/2025		J	V	14.08		(2)	(3)	Common Stock	14.08	$149.49	2,978.37	D
Restricted Stock Units	(1)	09/12/2025		J	V	33.17		(2)	02/10/2029	Common Stock	33.17	$149.49	7,016.47	D
Restricted Stock Units	(1)	09/12/2025		J	V	161.78		02/10/2029	02/10/2029	Common Stock	161.78	$149.49	34,225.39	D
Restricted Stock Units	(1)	12/12/2025		J	V	5.66		(2)	(3)	Common Stock	5.66	$151.06	1,210.39	D
Restricted Stock Units	(1)	12/12/2025		J	V	19		08/18/2026	(3)	Common Stock	19	$151.06	4,062.35	D
Restricted Stock Units	(1)	12/12/2025		J	V	14		(2)	(3)	Common Stock	14	$151.06	2,992.37	D
Restricted Stock Units	(1)	12/12/2025		J	V	32.98		(2)	02/10/2029	Common Stock	32.98	$151.06	7,049.45	D
Restricted Stock Units	(1)	12/12/2025		J	V	160.86		02/10/2029	02/10/2029	Common Stock	160.86	$151.06	34,386.25	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	12/29/2025
	** 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.
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FAQ

What does the YUM Form 4 filing show about insider holdings?

The filing shows that a Yum Brands officer who is Taco Bell CEO and Yum CCO reported transactions in restricted stock units tied to Yum common stock, updating their beneficial ownership position.

What type of securities are reported in this YUM Form 4?

The report focuses on restricted stock units, which are derivative securities that represent the right to receive Yum Brands common stock in the future.

How do the Yum Brands restricted stock units convert into common stock?

The explanation states that conversion occurs on a one-for-one basis, meaning each restricted stock unit is designed to settle into one share of Yum Brands common stock.

What is the vesting schedule for the YUM restricted stock unit grants?

For the grants described, vesting occurs 25% per year beginning one year from the grant date, with the final distribution occurring four years from the grant date.

Do the Yum Brands restricted stock unit grants have expiration dates?

For the grant described in the explanation, there are no specified expiration dates; instead, the units are scheduled to distribute fully over four years from the grant date.

Who signed the YUM Form 4 on behalf of the reporting person?

The form is signed by /s/ Brittany Bodkin, POA, indicating it was filed under a power of attorney for the reporting person.

What is the relationship of the reporting person to Yum Brands (YUM)?

The reporting person is identified as an officer, specifically Taco Bell, CEO, YUM CCO, and is not checked as a director or 10% owner.