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Yum Brands (NYSE: YUM) Pizza Hut CEO converts RSUs, withholds shares for tax

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

Rhea-AI Filing Summary

Yum Brands executive Powell Aaron, CEO of Pizza Hut, reported equity award activity. On 02/10/2026 he converted restricted stock units into common stock in two transactions of 1,133 and 1,761 units, each converting to the same number of common shares on a one-for-one basis.

To cover tax obligations, 447 and 694 common shares were withheld and disposed of at $158.85 per share. After these transactions, he directly owned 23,336.48 common shares. The restricted stock units vest 25% per year beginning one year from grant, with final distributions occurring four years from the grant date.

Positive

  • None.

Negative

  • None.
Insider Powell Aaron
Role CEO - Pizza Hut
Type Security Shares Price Value
Exercise Restricted Stock Units 1,133 $0.00 --
Exercise Restricted Stock Units 1,761 $0.00 --
Exercise Common Stock 1,133 $158.85 $180K
Tax Withholding Common Stock 447 $158.85 $71K
Exercise Common Stock 1,761 $158.85 $280K
Tax Withholding Common Stock 694 $158.85 $110K
Holdings After Transaction: Restricted Stock Units — 1,134.96 shares (Direct); Common Stock — 22,716.48 shares (Direct)
Footnotes (1)
  1. Vesting occurs 25% per year beginning one year from grant date. The final distribution under this grant will occur four years from the grant date. There are no specified expiration dates for this grant. Conversion occurs on a one-for-one basis.
Form 4 Insider Transactions: What Each Field Means →
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*
Powell Aaron
(Last) (First) (Middle)
1441 GARDINER LANE
(Street)
LOUISVILLE KY 40213
(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)
CEO - Pizza Hut
3. Date of Earliest Transaction (Month/Day/Year)
02/10/2026
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)
Code V Amount (A) or (D) Price
Common Stock 02/10/2026 M 1,133 A $158.85 22,716.48 D
Common Stock 02/10/2026 F 447 D $158.85 22,269.48 D
Common Stock 02/10/2026 M 1,761 A $158.85 24,030.48 D
Common Stock 02/10/2026 F 694 D $158.85 23,336.48 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
Restricted Stock Units $131.31 02/10/2026 M 1,133 (1) (2) Common Stock 1,133 $0 1,134.96 D
Restricted Stock Units (3) 02/10/2026 M 1,761 (1) 02/10/2029 Common Stock 1,761 $0 5,288.45 D
Explanation of Responses:
1. Vesting occurs 25% per year beginning one year from grant date.
2. The final distribution under this grant will occur four years from the grant date. There are no specified expiration dates for this grant.
3. Conversion occurs on a one-for-one basis.
/s/ M. Gayle Hobson, POA 02/12/2026
** 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 transactions did YUM executive Powell Aaron report on this Form 4?

Powell Aaron reported RSU conversions and related share withholdings. On 02/10/2026, restricted stock units converted into common stock in two tranches, and portions of the resulting shares were disposed of to satisfy tax obligations at a reported price of $158.85 per share.

How many Yum Brands (YUM) restricted stock units did Powell Aaron convert?

Powell Aaron converted two RSU blocks into common stock. The Form 4 shows conversions of 1,133 restricted stock units and 1,761 restricted stock units on 02/10/2026, each converting into the same number of Yum Brands common shares on a one-for-one basis.

How many Yum Brands (YUM) shares did Powell Aaron dispose of for taxes?

Shares were withheld to cover tax liabilities. The filing reports dispositions of 447 common shares and 694 common shares at $158.85 per share, characterized as payment of tax liability by delivering securities rather than an open-market sale.

What is Powell Aaron’s Yum Brands (YUM) common stock ownership after these transactions?

Powell Aaron’s direct common stock holdings increased. After the RSU conversions and tax-related share withholdings on 02/10/2026, the Form 4 reports that he directly owned 23,336.48 shares of Yum Brands common stock.

How do Powell Aaron’s Yum Brands (YUM) restricted stock units vest over time?

The RSUs vest annually over four years. Vesting occurs 25% per year beginning one year from the grant date, with the final distribution under the grant occurring four years from the grant date, according to the footnote disclosures.

What is the conversion ratio for Powell Aaron’s Yum Brands (YUM) restricted stock units?

The restricted stock units convert on a one-for-one basis. Each restricted stock unit converts into one share of Yum Brands common stock upon distribution, as explicitly stated in the explanatory footnotes to the Form 4.