YUM Brands (NYSE: YUM) CLO receives RSUs, SARs and phantom stock awards

Rhea-AI Filing Summary

YUM Brands Chief Legal Officer and Corporate Secretary Erika Burkhardt reported new equity awards granted on February 6, 2026. She received 2,072 restricted stock units that convert into common shares on a one-for-one basis and vest 25% per year beginning one year from the grant date.

She was also granted a stock appreciation right over 8,701 shares exercisable until February 6, 2036, and 1,471.2208 phantom stock units under the YUM! Brands Executive Income Deferral Program. All awards were reported as acquired at a price of $0, reflecting compensatory grants rather than open-market purchases.

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
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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)
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
Restricted Stock Units	(1)	02/06/2026		A		2,072		(2)	(3)	Common Stock	2,072	$0	2,072	D
Stock Appreciation Right	$162.93	02/06/2026		A		8,701		(2)	02/06/2036	Common Stock	8,701	$0	8,701	D
Phantom Stock	(1)	02/06/2026		A		1,471.2208		(4)	(5)	Common Stock	1,471.2208	$0	1,471.2208	D

Explanation of Responses:

1. Conversion occurs on a one-for-one basis.

2. Vesting occurs 25% per year beginning one year from grant date.

3. This grant does not have an expiration date.

4. Payments are made in accordance with elections on file.

5. Phantom units accrued under the YUM! Brands, Inc. Executive Income Deferral Program do not have expiration dates.

	/s/ M. Gayle Hobson, 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 transactions did YUM (YUM) report for Erika Burkhardt on February 6, 2026?

Erika Burkhardt reported receiving equity awards on February 6, 2026, including restricted stock units, stock appreciation rights, and phantom stock. These were compensatory grants at a reported price of $0 per unit, rather than open-market purchases or sales of YUM common stock.

How many restricted stock units did YUM (YUM) grant to Erika Burkhardt?

YUM granted Erika Burkhardt 2,072 restricted stock units, each convertible into one share of common stock. The units vest in four equal annual installments of 25% per year, beginning one year after the February 6, 2026 grant date, aligning compensation with longer-term company performance.

What are the terms of Erika Burkhardt’s YUM (YUM) stock appreciation rights?

Erika Burkhardt received stock appreciation rights covering 8,701 shares of YUM common stock on February 6, 2026. These rights were granted at a reported derivative price of $0 and are exercisable until February 6, 2036, providing long-dated equity-linked compensation exposure to YUM’s share price.

How do Erika Burkhardt’s YUM (YUM) phantom stock units work?

Burkhardt was credited with 1,471.2208 phantom stock units under the YUM! Brands Executive Income Deferral Program. Payments on these units are made according to elections on file, and the phantom units do not have expiration dates, providing deferred, share-linked compensation rather than immediate stock ownership.

When do Erika Burkhardt’s YUM (YUM) restricted stock units vest?

The 2,072 restricted stock units granted to Erika Burkhardt vest 25% per year beginning one year from the February 6, 2026 grant date. This creates a four-year vesting schedule, encouraging continued service and alignment with YUM shareholders over an extended period.

Does Erika Burkhardt’s YUM (YUM) Form 4 show any stock sales?

The Form 4 shows only awards coded as acquisitions (transaction code A) of restricted stock units, stock appreciation rights, and phantom stock. All entries list a transaction price of $0, indicating compensatory grants and deferred units, with no reported open-market sales of YUM common shares.