[Form 4] YUM BRANDS INC Insider Trading Activity

YUM Brands (YUM) reported an insider equity transaction by its Chief Legal Officer & Corp Sec.

Rhea-AI Filing Summary

YUM Brands (YUM) reported an insider equity transaction by its Chief Legal Officer & Corp Sec. On 11/05/2025, the officer exercised 4,073 stock appreciation rights at $102.87 per share, acquiring the same number of common shares. The filing then shows open‑market sales of 2,804 shares at $149.44 and 1,269 shares at $149.37. Following these transactions, the officer directly owned 64 shares of common stock. The exercised derivative grant was originally exercisable from 11/13/2024 and expiring 11/13/2030.

Insights

Equity compensation analyst

Routine SAR exercise and related sales; neutral impact.

The officer exercised 4,073 stock appreciation rights at $102.87, receiving the equivalent number of common shares. Subsequent open‑market sales totaled 4,073 shares at prices of $149.44 and $149.37. The derivative position went to zero after the exercise.

This is a standard compensation event, not a capital raise. Reported direct holdings after the trades were 64 shares. The SAR grant listed an exercisable date of 11/13/2024 and expiration on 11/13/2030. Actual market impact depends on trading volume and was not addressed in the excerpt.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 4 txns

Insider Burkhardt Erika

Role Chief Legal Officer & Corp Sec

Sold 1,269 shs ($190K)

Approx. gross sale proceeds $190K

Approx. exercise cost $419K

Type	Security	Shares	Price	Value
Exercise	Stock Appreciation Right	4,073	$0.00	$0.00
Exercise	Common Stock	4,073	$102.87	$419K
Disposition	Common Stock	2,804	$149.44	$419K
Sale	Common Stock	1,269	$149.37	$190K

Holdings After Transaction: Stock Appreciation Right — 0 contracts (Direct); Common Stock — 64 shares (Direct)

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Accepted by SEC EDGAR 11/05/2025 - 12:24 PM EST 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^*

Burkhardt Erika

(Last) (First) (Middle)

7100 CORPORATE DRIVE

(Street)

PLANO TX 75024

(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)
	Chief Legal Officer & Corp Sec

3. Date of Earliest Transaction (Month/Day/Year)
11/05/2025

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	11/05/2025		M		4,073	A	$102.87	4,137	D
Common Stock	11/05/2025		D		2,804	D	$149.44	1,333	D
Common Stock	11/05/2025		S		1,269	D	$149.37	64	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	$102.87	11/05/2025		M			4,073	11/13/2024	11/13/2030	Common Stock	4,073	$0	0	D

Explanation of Responses:

	/s/ Brittany Bodkin, POA	11/05/2025
	** 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.