Yum Brands KFC chief sells shares after exercise

Yum Brands KFC Division CEO Scott Mezvinsky exercised stock appreciation rights covering 483 shares of common stock at an effective price of $68.00 per share.

Rhea-AI Filing Summary

Yum Brands KFC Division CEO Scott Mezvinsky exercised stock appreciation rights covering 483 shares of common stock at an effective price of $68.00 per share. He then returned 222 shares to the company in a disposition to the issuer at $147.95 per share and sold 261 shares in an open-market sale at $148.14 per share. Following these transactions, he no longer directly holds Yum Brands common stock. The Form 4 notes the activity was conducted pursuant to a Rule 10b5-1 trading plan, indicating the trades were pre-scheduled.

Insider Trade Summary 10b5-1

Exercise and sale activity reported; no spread calculated

Exercise and Sale 4 txns

Insider Mezvinsky Scott

Role KFC Division CEO

Sold 261 shs ($39K)

Approx. gross sale proceeds $39K

Approx. exercise cost $33K

Type	Security	Shares	Price	Value
Exercise	Stock Appreciation Right	483	$0.00	$0.00
Exercise	Common Stock	483	$68.00	$33K
Disposition	Common Stock	222	$147.95	$33K
Sale	Common Stock	261	$148.14	$39K

Holdings After Transaction: Stock Appreciation Right — 3,376 contracts (Direct); Common Stock — 0 shares (Direct)

Footnotes (1)

1. F1. Pursuant to 10b5-1 Plan

Key Figures

Open-market sale: 261 shares at $148.14/share Issuer disposition: 222 shares at $147.95/share Rights exercised: 483 shares at $68.00/share +1 more

4 metrics

Open-market sale 261 shares at $148.14/share Common Stock sale on 2026-06-01

Issuer disposition 222 shares at $147.95/share Disposition to issuer on 2026-06-01

Rights exercised 483 shares at $68.00/share Stock Appreciation Right exercise on 2026-06-01

Post-transaction holdings 0 shares Common Stock directly owned after 2026-06-01

Key Terms

Stock Appreciation Right, open-market sale, disposition to issuer, Rule 10b5-1 plan

4 terms

Stock Appreciation Right financial

"security_title": "Stock Appreciation Right""

A stock appreciation right (SAR) is a form of employee pay that gives the holder the right to receive the increase in a company's share price over a set reference price, paid in cash or shares, without having to buy stock first. It matters to investors because SARs can create future cash outflows or dilute existing shareholders if settled in stock, and they align employee incentives with share-price performance like a bonus tied to a home's price rise.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

disposition to issuer financial

"transaction_action": "issuer disposition""

Rule 10b5-1 plan regulatory

"Pursuant to 10b5-1 Plan"

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

FAQ

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

What insider transactions did Yum Brands (YUM) KFC Division CEO report?

KFC Division CEO Scott Mezvinsky exercised stock appreciation rights for 483 shares, then disposed of all resulting common shares. He returned 222 shares to Yum Brands and sold 261 shares in the open market, leaving him with no directly held common stock.

How many Yum Brands (YUM) shares did the KFC CEO sell and at what price?

Scott Mezvinsky sold 261 Yum Brands common shares in an open-market transaction at $148.14 per share. This sale followed an exercise of stock appreciation rights that produced the shares he disposed of the same day.

What was the size and exercise price of the Yum Brands (YUM) stock appreciation rights?

The filing shows stock appreciation rights covering 483 shares with an exercise or conversion price of $68.00 per share. Exercising these rights generated 483 common shares, which were then fully disposed of through a combination of issuer disposition and market sale.

Did the Yum Brands (YUM) KFC CEO keep any common stock after these transactions?

No, the Form 4 reports zero Yum Brands common shares directly owned after the transactions. After exercising rights on 483 shares, he disposed of 222 shares to the issuer and sold 261 shares, leaving no directly held common stock position.

Were the Yum Brands (YUM) insider transactions made under a Rule 10b5-1 plan?

Yes, the Form 4 includes a footnote stating the transactions were pursuant to a Rule 10b5-1 plan. Such pre-arranged trading plans schedule trades in advance, which can indicate the timing was not based on short-term market developments.

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

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Accepted by SEC EDGAR 06/02/2026 - 10:42 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).

X

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 TEXAS 45024

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

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	06/01/2026		M		483(1)	A	$68(1)	483	D
Common Stock	06/01/2026		D		222(1)	D	$147.95(1)	261	D
Common Stock	06/01/2026		S		261(1)	D	$148.14(1)	0	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
Stock Appreciation Right	$68	06/01/2026		M			483(1)	02/17/2021	02/10/2027	Common Stock	483	(1)	3,376	D

Explanation of Responses:

1. Pursuant to 10b5-1 Plan

	/s/ Brittany Bodkin, POA	06/02/2026
	** 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)