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Yum Brands (NYSE: YUM) director awarded phantom stock

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

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.

Positive

  • None.

Negative

  • None.
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 shares (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.
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
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

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.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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)
XDirector10% 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)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock(1)08/27/2026A309.5633 (2) (3)Common Stock309.5633$0309.5633D
Phantom Stock(1)08/27/2026A165.8375 (2) (3)Common Stock165.8375$0165.8375D
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, POA08/28/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR