YUM! Brands (NYSE: YUM) director granted 1,718 phantom stock units

Rhea-AI Filing Summary

YUM! Brands director Nelson Thomas acquired 1,718.5294 phantom stock units as compensation. The award was granted on February 6, 2026 under the company’s Director Deferred Compensation Plan at a price of $0 per unit. Each phantom unit is convertible into one share of common stock and does not have an expiration date.

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^*

Nelson Thomas

(Last) (First) (Middle)

NATIONAL GYPSUM COMPANY

2001 REXDALE ROAD

(Street)

CHARLOTTE NC 28211

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

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

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)	02/06/2026		A		1,718.5294		(2)	(3)	Common Stock	1,718.5294	$0	1,718.5294	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/ Brittany Bodkin, POA	02/09/2026
	** 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.

FAQ

What insider transaction did YUM (YUM) report for director Nelson Thomas?

YUM! Brands reported that director Nelson Thomas acquired 1,718.5294 phantom stock units on February 6, 2026. These units were granted at $0 per unit as part of director compensation and are linked one-for-one to YUM common stock.

What is the nature of the phantom stock units granted at YUM (YUM)?

The filing shows phantom stock units that convert into YUM common stock on a one-for-one basis. They are issued under the Director Deferred Compensation Plan and, according to the disclosure, these phantom units do not have expiration dates, making them long-term, deferred compensation.

How many YUM (YUM) phantom stock units does Nelson Thomas now beneficially own?

After the reported transaction, Nelson Thomas beneficially owns 1,718.5294 phantom stock units directly. This entire balance results from the February 6, 2026 acquisition reported in the Form 4 and represents deferred equity-based director compensation.

Did Nelson Thomas pay anything for the YUM (YUM) phantom stock units?

No cash payment was made for this award. The Form 4 indicates a transaction price of $0.0000 per phantom stock unit, confirming the 1,718.5294 units were granted as compensation rather than purchased in the open market or via an exercise transaction.

Does the YUM (YUM) phantom stock award to Nelson Thomas have an expiration date?

According to the footnotes, phantom units granted under the YUM! Brands, Inc. Director Deferred Compensation Plan do not have expiration dates. That means the 1,718.5294 phantom stock units awarded to director Nelson Thomas remain outstanding until settled in accordance with plan elections.

How do the YUM (YUM) phantom stock units convert into common shares?

The disclosure states that conversion occurs on a one-for-one basis. Each phantom stock unit corresponds to one share of YUM common stock, and payments or settlements are made according to the director’s elections on file under the deferred compensation plan.