[Form 4] YUM BRANDS INC Insider Trading Activity

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Yum! Brands KFC Division CEO Scott Mezvinsky reported two transactions in phantom stock units on February 9, 2026 under the company’s Executive Income Deferral Program. Each phantom stock unit converts into one share of common stock on a one-for-one basis.

The first transaction involved 38.3511 phantom stock units at $162.93 per underlying share, leaving 1,035.2908 derivative securities beneficially owned directly. The second covered 115.0534 phantom stock units at $162.93, with 3,105.8724 derivative securities then beneficially owned directly. The program does not have specified expiration dates.

Insights

Routine phantom stock activity by a Yum! Brands division CEO with limited investment impact.

The filing shows Scott Mezvinsky, KFC Division CEO, reporting two transactions in phantom stock units on February 9, 2026. These derivative awards are tied one-for-one to Yum! Brands common stock, aligning executive pay with shareholder value through the Executive Income Deferral Program.

Both transactions use a reference price of $162.93 per underlying share and are coded "F," reflecting activity within an existing compensation framework. Following these transactions, Mezvinsky directly holds 1,035.2908 and 3,105.8724 derivative securities in two phantom stock lines, suggesting ongoing participation rather than a new equity grant.

The program has no specified expiration dates, indicating these phantom units function as long-term compensation rather than short-dated options. Overall, this appears to be a routine executive compensation event, not a thesis-changing development for investors in upcoming 2026 disclosures.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Mezvinsky Scott

Role KFC Division CEO

Type	Security	Shares	Price	Value
Tax Withholding	Phantom Stock	38.351	$162.93	$6K
Tax Withholding	Phantom Stock	115.053	$162.93	$19K

Holdings After Transaction: Phantom Stock — 1,035.291 shares (Direct)

Footnotes (1)

Conversion occurs on a one-for-one basis. Payments are made in accordance with elections on file. The YUM! Brands, Inc. Executive Income Deferral Program does not have specified expiration dates.

Form 4 Insider Transactions: What Each Field Means →

02/10/2026 - 03:11 PM

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^*

Mezvinsky Scott

(Last)

(First)

(Middle)

7100 CORPORATE DRIVE

(Street)

PLANO

45024

(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)
	KFC Division CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock	⁽¹⁾	02/09/2026		F			38.3511	⁽²⁾	⁽³⁾	Common Stock	38.3511	$162.93	1,035.2908	D
Phantom Stock	⁽¹⁾	02/09/2026		F			115.0534	⁽²⁾	⁽³⁾	Common Stock	115.0534	$162.93	3,105.8724	D

Explanation of Responses:

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

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

3. The YUM! Brands, Inc. Executive Income Deferral Program does not have specified expiration dates.

	/s/ Brittany Bodkin, POA	02/10/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Yum! Brands (YUM) report for Scott Mezvinsky?

Yum! Brands reported that KFC Division CEO Scott Mezvinsky executed two phantom stock transactions on February 9, 2026. These involved 38.3511 and 115.0534 phantom stock units, both tied one-for-one to Yum! Brands common stock under the Executive Income Deferral Program.

What is the price referenced in Scott Mezvinsky’s Yum! Brands Form 4?

The Form 4 shows a reference price of $162.93 per underlying share for both phantom stock transactions. This price applies to the 38.3511 and 115.0534 phantom stock units reported, each representing one share of Yum! Brands common stock on conversion.

How many phantom stock units does Scott Mezvinsky hold after these Yum! Brands transactions?

After the reported activity, Scott Mezvinsky beneficially owns 1,035.2908 derivative securities in one phantom stock line and 3,105.8724 in another. Both positions are held directly and are part of the Yum! Brands Executive Income Deferral Program.

What does one-for-one conversion mean for Yum! Brands phantom stock?

In this context, one-for-one conversion means each phantom stock unit corresponds to one share of Yum! Brands common stock. When amounts become payable under the Executive Income Deferral Program, payments are made based on elections on file, using that one-to-one relationship.

Does the Yum! Brands Executive Income Deferral Program have an expiration date?

The filing states that the Yum! Brands Executive Income Deferral Program does not have specified expiration dates. This means phantom stock units under the program are not tied to a fixed maturity, supporting longer-term executive compensation arrangements for participants like Scott Mezvinsky.

Is Scott Mezvinsky a major shareholder of Yum! Brands (YUM) based on this Form 4?

Based on this Form 4, Scott Mezvinsky is reported as an officer, serving as KFC Division CEO, and is not marked as a 10% owner. The filing focuses on his phantom stock positions within the Executive Income Deferral Program, not large direct common share ownership.