[Form 4] YUM BRANDS INC Insider Trading Activity

Rhea-AI Filing Summary

YUM Brands Inc. (YUM) Chief Financial Officer, listed as an officer reporting person, disclosed new equity awards on a Form 4 dated 11/21/2025. The filing shows an acquisition of 10,136 stock appreciation rights with an exercise price of $152.98 per share that expire on 11/21/2035, each tied to an equivalent number of shares of common stock. It also reports a grant of 2,452 restricted stock units, each convertible into one share of common stock with no expiration date. Both awards are held as direct ownership, and the vesting schedule for these awards is 25% per year starting one year from the grant date.

Insights

Equity compensation analyst

Routine CFO equity awards in SARs and RSUs, neutral impact.

The Form 4 for YUM Brands (YUM) reports standard incentive grants to the Chief Financial Officer. The awards consist of 10,136 stock appreciation rights with a $152.98 exercise price and an expiration date of 11/21/2035, plus 2,452 restricted stock units that convert into common stock on a one-for-one basis. Both are recorded as directly owned.

Vesting is spread over time, with 25% of each award vesting annually beginning one year from the grant date, aligning the CFO’s compensation with longer-term company performance. These grants are typical for senior executives and, based on the figures disclosed, represent routine compensation rather than a transformational change. From an investor perspective this is best viewed as ongoing alignment of management incentives with shareholder value.

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
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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^*

Turner Christopher Lee

(Last) (First) (Middle)

1441GARDINER 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)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

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
Stock Appreciation Right	$152.98	11/21/2025		A		10,136		(1)	11/21/2035	Common Stock	10,136	$0	10,136	D
Restricted Stock Units	(2)	11/21/2025		A		2,452		(1)	(3)	Common Stock	2,452	$0	2,452	D

Explanation of Responses:

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

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

3. This grant does not have an expiration date.

	/s/ M. Gayle Hobson, POA	11/24/2025
	** 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.
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 executive transaction did YUM (YUM Brands Inc.) disclose on this Form 4?

The Form 4 shows that the Chief Financial Officer acquired 10,136 stock appreciation rights and 2,452 restricted stock units in YUM Brands common stock on 11/21/2025.

What are the key terms of the stock appreciation rights reported by YUMa0(YUM)?

The CFO received 10,136 stock appreciation rights with an exercise price of $152.98 per share, expiring on 11/21/2035, linked to 10,136 shares of common stock.

What restricted stock units were granted to the YUM Brands CFO?

The filing reports 2,452 restricted stock units, each convertible into one share of YUM Brands common stock, with no expiration date on the grant.

How do the YUM (YUM) CFO equity awards vest?

According to the explanation, vesting for these awards occurs at 25% per year, beginning one year from the grant date.

Is the YUM Brands CFOa0ownership reported as direct or indirect on this Form 4?

The Form 4 indicates the equity awards are held under direct ownership by the Chief Financial Officer.

What is the purpose of this YUM Brands Form 4 filing?

This Form 4 reports the acquisition of derivative equity awards (stock appreciation rights and restricted stock units) by YUM Brandsa0Chief Financial Officer as required under Section 16 reporting rules.