[Form 4] YUM BRANDS INC Insider Trading Activity

Rhea-AI Filing Summary

YUM Brands (YUM) disclosed insider transactions by the Pizza Hut CEO on 11/11/2025. The executive exercised stock appreciation rights and acquired 14,076, 9,397, and 5,517 shares at exercise prices of $122.07, $131.31, and $130.27, respectively. The filing also shows dispositions of 12,462, 8,670, and 5,068 shares at $150.54, plus open‑market sales of 1,614, 727, and 449 shares at $150.48.

Following these transactions, the executive directly owned 26,650.48 shares. The derivative awards referenced vest on a 25% per year schedule beginning one year from grant.

Insights

Equity compensation analyst

Routine equity award exercises with partial share sales; neutral impact.

The Pizza Hut CEO of YUM Brands executed multiple stock appreciation right exercises on 11/11/2025 at exercise prices of $122.07, $131.31, and $130.27. Resulting common shares appear in Table I alongside dispositions and open‑market sales at prices around $150.48–$150.54.

These awards vest 25% annually beginning one year after grant, and the underlying SAR tranches show expirations on 02/11/2032, 02/10/2033, and 02/09/2034. The filing lists direct ownership of 26,650.48 shares after the reported activity.

This is a standard equity compensation event. Actual market impact depends on transaction size relative to float; the filing provides the share counts and prices without broader context.

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)
11/11/2025

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	11/11/2025		M		14,076	A	$122.07	40,726.48	D
Common Stock	11/11/2025		D		12,462	D	$150.54	28,264.48	D
Common Stock	11/11/2025		S		1,614	D	$150.48	26,650.48	D
Common Stock	11/11/2025		M		9,397	A	$131.31	36,047.48	D
Common Stock	11/11/2025		D		8,670	D	$150.54	27,377.48	D
Common Stock	11/11/2025		S		727	D	$150.48	26,650.48	D
Common Stock	11/11/2025		M		5,517	A	$130.27	32,167.48	D
Common Stock	11/11/2025		D		5,068	D	$150.54	27,099.48	D
Common Stock	11/11/2025		S		449	D	$150.48	26,650.48	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
Stock Appreciation Right	$122.07	11/11/2025		M			14,076	(1)	02/11/2032	Common Stock	14,076	$0	4,693	D
Stock Appreciation Right	$131.31	11/11/2025		M			9,397	(1)	02/10/2033	Common Stock	9,397	$0	9,397	D
Stock Appreciation Right	$130.27	11/11/2025		M			5,517	(1)	02/09/2034	Common Stock	5,517	$0	16,553	D

Explanation of Responses:

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

	/s/ Brittany Bodkin, POA	11/12/2025
	** 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.

FAQ

What insider transactions did YUM (YUM) report on 11/11/2025?

The Pizza Hut CEO exercised stock appreciation rights and reported dispositions plus open‑market sales, all dated 11/11/2025.

How many shares did the YUM Pizza Hut CEO acquire via SAR exercises?

Exercises yielded 14,076, 9,397, and 5,517 common shares at exercise prices of $122.07, $131.31, and $130.27.

What sales were disclosed in the YUM Form 4 and at what prices?

Dispositions of 12,462, 8,670, and 5,068 shares at $150.54, and open‑market sales of 1,614, 727, and 449 shares at $150.48.

What is the executive’s YUM share ownership after the transactions?

Direct beneficial ownership is listed as 26,650.48 shares following the reported transactions.

What vesting schedule applies to the derivative awards in the YUM filing?

The awards vest at 25% per year, beginning one year from the grant date.

What are the expirations for the exercised SAR tranches?

The SAR-related tranches reference expirations on 02/11/2032, 02/10/2033, and 02/09/2034.