Yum Brands director gets phantom stock grants

YUM BRANDS INC (YUM) director Stephen B. Bratspies reported two acquisitions of phantom stock on August 27, 2026.

Rhea-AI Filing Summary

YUM BRANDS INC (YUM) director Stephen B. Bratspies reported two acquisitions of phantom stock on August 27, 2026. He received 309.5633 phantom stock units and 165.8375 phantom stock units, each convertible into YUM common stock on a one-for-one basis. These phantom units were accrued under the YUM! Brands, Inc. Director Deferred Compensation Plan, have no expiration dates, and payments will be made in accordance with elections on file.

Insider Trade Summary

Grant/Award: 475.4008 shares

Grant/Award 2 txns

Insider Bratspies Stephen B

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock F1, F2, F3	309.5633	$0.00	$0.00
Grant/Award	Phantom Stock F1, F2, F3	165.8375	$0.00	$0.00

Holdings After Transaction: Phantom Stock — 475.4008 contracts (Direct)

Footnotes (3)

1. F1. Conversion occurs on a one-for-one basis.
2. F2. Payments are made in accordance with elections on file.
3. F3. Phantom units accrued under the YUM! Brands, Inc. Director Deferred Compensation Plan do not have expiration dates.

Key Figures

Phantom stock units granted: 309.5633 units Second phantom stock grant: 165.8375 units Conversion ratio: 1 phantom unit : 1 share of Common Stock +1 more

4 metrics

Phantom stock units granted 309.5633 units Phantom Stock grant to director on August 27, 2026

Second phantom stock grant 165.8375 units Additional Phantom Stock grant to director on August 27, 2026

Conversion ratio 1 phantom unit : 1 share of Common Stock Conversion occurs on a one-for-one basis

Transaction price per unit $0.0000 per unit Reported price for each phantom stock acquisition

Key Terms

Phantom Stock, Director Deferred Compensation Plan, one-for-one basis

3 terms

Phantom Stock financial

"security_title: "Phantom Stock" and phantom units accrued under the plan"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Director Deferred Compensation Plan financial

"Phantom units accrued under the YUM! Brands, Inc. Director Deferred Compensation Plan"

one-for-one basis financial

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

FAQ

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

What insider transaction did YUM (YUM) disclose for Stephen B. Bratspies?

Stephen B. Bratspies reported the acquisition of two phantom stock grants on August 27, 2026, consisting of 309.5633 units and 165.8375 units, each tied to YUM common stock on a one-for-one basis under the Director Deferred Compensation Plan.

How many phantom stock units were granted to the YUM (YUM) director?

Stephen B. Bratspies was granted 309.5633 phantom stock units in one transaction and 165.8375 phantom stock units in another, both dated August 27, 2026, under the YUM! Brands, Inc. Director Deferred Compensation Plan.

What does the one-for-one conversion mean for YUM (YUM) phantom stock?

The filing states that conversion for the phantom stock units occurs on a one-for-one basis, meaning each phantom stock unit is convertible into one share of YUM common stock when paid out under the Director Deferred Compensation Plan.

Do the YUM (YUM) phantom stock units reported have an expiration date?

No. The phantom units accrued under the YUM! Brands, Inc. Director Deferred Compensation Plan do not have expiration dates, according to the filing footnote. Payments are instead made in accordance with the director’s elections on file.

Were the YUM (YUM) phantom stock transactions under a Rule 10b5-1 plan?

No. The document-level Rule 10b5-1 checkbox is not affirmed (aff_10b5_one is false), indicating these reported phantom stock acquisitions were not designated as made under a Rule 10b5-1 trading plan in the filing.

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

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Available on EDGAR 08/28/2026 - 09:02 AM EDT Accepted by SEC EDGAR 08/28/2026 - 09:01 AM EDT Learn about SEC filing dates

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^*

Bratspies Stephen B

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/27/2026

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

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
Phantom Stock	(1)	08/27/2026		A		309.5633		(2)	(3)	Common Stock	309.5633	$0	309.5633	D
Phantom Stock	(1)	08/27/2026		A		165.8375		(2)	(3)	Common Stock	165.8375	$0	165.8375	D

Explanation of Responses:

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

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

3. Phantom units accrued under the YUM! Brands, Inc. Director Deferred Compensation Plan do not have expiration dates.

	/s/ M. Gayle Hobson, POA	08/28/2026
	** 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)