YUM Brands COO Tracy L. Skeans sells 13,812 shares

The COO and CPO’s reported transactions included an exercise and a share sale under a Rule 10b5-1 plan.

Available on EDGAR 11/04/2026 - 03:52 PM EST Accepted by SEC EDGAR 11/04/2026 - 03:52 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

YUM Brands Inc. COO and CPO Tracy L. Skeans exercised 26,660 stock appreciation rights on November 4, 2026, at a $78.07 exercise price, acquiring 26,660 common shares. On the same date, Skeans returned 12,848 shares to the issuer and sold 13,812 shares at $162 per share. The transactions were pursuant to a Rule 10b5-1 plan; 11,450 stock appreciation rights remained after the exercise. The rights vest 25% per year beginning one year from the grant date.

Insider Trade Summary 10b5-1

Exercise and sale activity reported; no spread calculated

Exercise and Sale 4 txns

Insider Skeans Tracy L

Role COO and CPO

Sold 13,812 shs ($2.24M)

Approx. gross sale proceeds $2.24M

Approx. exercise cost $2.08M

Share of Position Sold >99.9%

Type	Security	Shares	Price	Value
Exercise	Stock Appreciation Right F1, F2	26,660	--	--
Exercise	Common Stock F1	26,660	$78.07	$2.08M
Disposition	Common Stock F1	12,848	$162.00	$2.08M
Sale	Common Stock F1	13,812	$162.00	$2.24M

Holdings After Transaction: Stock Appreciation Right — 11,450 contracts (Direct); Common Stock — 3 shares (Direct)

Holdings Before and After: Stock Appreciation Right, 38,110 to 11,450 contracts (Direct); Common Stock, 3 to 3 shares (Direct)

Other Insiders: 3 other insiders reported open-market sales of this stock in the 30 days up to this filing.

Footnotes (2)

1. F1. Pursuant to 10b5-1 Plan
2. F2. Vesting occurs 25% per year beginning one year from grant date.

Key Figures

Stock appreciation rights exercised: 26,660 rights Exercise price: $78.07 per share Common shares acquired: 26,660 shares +4 more

7 metrics

Stock appreciation rights exercised 26,660 rights November 4, 2026

Exercise price $78.07 per share Stock appreciation rights exercised November 4, 2026

Common shares acquired 26,660 shares November 4, 2026

Shares returned to issuer 12,848 shares November 4, 2026

Common shares sold 13,812 shares November 4, 2026

Sale price $162 per share Common shares sold November 4, 2026

Stock appreciation rights following transaction 11,450 rights Reported after the November 4, 2026 exercise

Key Terms

Stock Appreciation Right, 10b5-1 Plan, Vesting

3 terms

Stock Appreciation Right technical

"exercise of Stock Appreciation Right"

A stock appreciation right (SAR) is a form of employee pay that gives the holder the right to receive the increase in a company's share price over a set reference price, paid in cash or shares, without having to buy stock first. It matters to investors because SARs can create future cash outflows or dilute existing shareholders if settled in stock, and they align employee incentives with share-price performance like a bonus tied to a home's price rise.

10b5-1 Plan regulatory

"Pursuant to 10b5-1 Plan"

A 10b5-1 plan is a pre-arranged strategy that allows company insiders to buy or sell their shares at predetermined times and prices, even while they are aware of confidential information. It acts like a scheduled appointment for trading, helping ensure transactions happen transparently and legally, which can reassure investors that trades are not based on insider knowledge.

Vesting technical

"Vesting occurs 25% per year"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

FAQ

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

How many YUM shares did Tracy L. Skeans sell?

Tracy L. Skeans sold 13,812 YUM common shares at $162 per share on November 4, 2026, pursuant to a Rule 10b5-1 plan.

How many YUM stock appreciation rights did Tracy L. Skeans exercise?

Skeans exercised 26,660 stock appreciation rights at a $78.07 exercise price on November 4, 2026, acquiring 26,660 common shares. The reported position after the exercise was 11,450 stock appreciation rights.

How do Tracy L. Skeans's YUM stock appreciation rights vest?

The reported stock appreciation rights vest 25% per year, beginning one year from the grant date.

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

Form 4 Insider Transactions: What Each Field Means →

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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).

X

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 KENTUCKY 40213

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/04/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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	11/04/2026		M		26,660(1)	A	$78.07(1)	26,663	D
Common Stock	11/04/2026		D		12,848(1)	D	$162(1)	13,815	D
Common Stock	11/04/2026		S		13,812(1)	D	$162(1)	3	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
Stock Appreciation Right	$78.07	11/04/2026		M			26,660(1)	(2)	02/12/2028	Common Stock	26,660	(1)	11,450	D

Explanation of Responses:

1. Pursuant to 10b5-1 Plan

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

	/s/ Brittany Bodkin, POA	11/04/2026
	** 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.
* Form 4: SEC 1474 (03-26)