YUM director receives phantom stock and share grants

Oberg Kathleen K. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Oberg Kathleen K. reported acquisition or exercise transactions in this Form 4 filing.

YUM Brands director Kathleen K. Oberg reported compensation-related equity grants. She was awarded 162.6545 units of Phantom Stock, each convertible into one share of Common Stock on a one-for-one basis. She also received 910 shares of Common Stock, both held as direct ownership.

Phantom units are accrued under the YUM! Brands, Inc. Director Deferred Compensation Plan, which has no expiration dates for these phantom units, and payments are made in accordance with elections on file.

Insider Trade Summary

Grant/Award: 1,072.6545 shares

Grant/Award 2 txns

Insider Oberg Kathleen K.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	162.6545	$0.00	$0.00
Grant/Award	Common Stock	910	$0.00	$0.00

Holdings After Transaction: Phantom Stock — 162.6545 contracts (Direct); Common Stock — 910 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.

Key Figures

Phantom Stock units granted: 162.6545 units Common Stock shares granted: 910 shares Phantom Stock units after grant: 162.6545 units +1 more

4 metrics

Phantom Stock units granted 162.6545 units Grant on April 1, 2026; convertible one-for-one into Common Stock

Common Stock shares granted 910 shares Grant on April 1, 2026; total shares following transaction

Phantom Stock units after grant 162.6545 units Total phantom units following the reported transaction

Common Stock after grant 910 shares Total Common Stock directly owned following the reported grant

Key Terms

Phantom Stock, Director Deferred Compensation Plan, one-for-one basis, grant/award acquisition

4 terms

Phantom Stock financial

"security_title: "Phantom Stock" with underlying security title "Common Stock""

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."

grant/award acquisition financial

"transaction_action: "grant/award acquisition" for both transactions"

FAQ

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

What insider transaction did YUM (YUM) director Kathleen K. Oberg report?

Kathleen K. Oberg reported receiving equity awards, not open-market trades. She was granted 162.6545 Phantom Stock units linked one-for-one to Common Stock, plus 910 shares of Common Stock, all recorded as directly owned following the transactions on April 1, 2026.

What is the Phantom Stock award reported in the YUM (YUM) Form 4?

The Phantom Stock award is a deferred equity-like grant. Oberg received 162.6545 Phantom Stock units that convert into Common Stock on a one-for-one basis, accrued under the YUM! Brands, Inc. Director Deferred Compensation Plan, with no expiration dates for these phantom units.

How many YUM (YUM) Common Stock shares did Kathleen K. Oberg acquire?

Oberg acquired 910 shares of YUM Common Stock through a grant or award. The transaction price per share was reported as 0.0000, indicating a compensation-related award rather than an open-market purchase, and she directly owned 910 shares after this transaction.

Are the YUM (YUM) Phantom Stock units subject to expiration?

The Phantom Stock units have no expiration dates. The filing states that phantom units accrued under the YUM! Brands, Inc. Director Deferred Compensation Plan do not have expiration dates, and payments tied to these units are made according to elections already on file.

How are payments from YUM (YUM) Phantom Stock awards determined?

Payments from the Phantom Stock awards follow pre-set elections. The filing notes that payments related to these phantom units are made in accordance with elections on file, meaning timing and form of payment follow prior deferral or distribution choices.

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

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Accepted by SEC EDGAR 04/02/2026 - 10:06 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^*

Oberg Kathleen K.

(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)
04/01/2026

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	04/01/2026		A		910	A	$0	910	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
Phantom Stock	(1)	04/01/2026		A		162.6545		(2)	(3)	Common Stock	162.6545	$0	162.6545	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	04/02/2026
	** 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)