[Form 4] Yum! Brands, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider transaction disclosure for YUM: The Form 4 reports that Tracy L. Skeans adjusted holdings in Yum! Brands common stock by recording a disposition of 2,970 shares and an acquisition of 2,970 shares at a reported price of $145.22 per share under transaction code G. After the reported activity, the filing shows 0 shares directly owned, 2,970 shares held indirectly through the Skeans Trust, and 2,103 shares held indirectly via a 401(k) plan.

Positive

• Beneficial ownership maintained through the Skeans Trust and 401(k), preserving exposure to the issuer
• Report shows no net reduction in beneficial shares because disposed and acquired amounts are equal (2,970 shares)

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Insider reclassified direct holdings into trust and retirement accounts; no net change in total beneficial shares reported.

The filing documents a simultaneous reported disposition and acquisition of equal share counts at the same price using code G, resulting in no direct holdings but continued indirect ownership through a trust and a 401(k). This pattern typically reflects internal re-titling or transfer to fiduciary vehicles rather than open-market trading activity. Materiality for investors is limited because the total beneficial position size is modest relative to large-cap company outstanding shares and no net economic change is reported in the filing.

Securities Analyst

TL;DR: Report shows structural ownership change with 2,970 shares moved to a trust and 2,103 in a 401(k); transaction details are explicit and routine.

The report lists a disposition and acquisition of 2,970 shares at $145.22 under code G, leaving indirect ownership through the Skeans Trust and a 401(k) plan. Because the numbers match and there is no change in aggregate beneficial exposure disclosed, the disclosure appears procedural. There is no indication of open-market sale pressure or acquisition that would alter liquidity or control dynamics.

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^*

Skeans Tracy L

(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)
	COO and CPO

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

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	08/14/2025		G		2,970	D	$145.22	0	D
Common Stock	08/14/2025		G		2,970	A	$145.22	2,970	I	Skeans Trust
Common Stock								2,103	I	401(k) Plan

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

Explanation of Responses:

	/s/ M. Gayle Hobson, POA	08/15/2025
	** 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 did the Form 4 for YUM disclose about Tracy L. Skeans' transactions?

The Form 4 discloses a reported disposition of 2,970 shares and a reported acquisition of 2,970 shares at $145.22 per share under transaction code G.

How many Yum! Brands shares does Tracy L. Skeans beneficially own after the reported transactions?

After the reported transactions, the filing shows 0 shares directly owned, 2,970 shares indirectly via the Skeans Trust, and 2,103 shares indirectly via a 401(k) plan.

What does transaction code G indicate in this Form 4 for YUM?

The Form lists the transactions under code G; the filing text does not provide further explanation beyond the code itself.

Was there a change in total beneficial ownership reported for Tracy L. Skeans?

The filing reports equal amounts disposed and acquired (2,970 shares each), and continuing indirect holdings, so no net change in the reported beneficial share count is shown.

Are there any derivative securities reported in this Form 4 for YUM?

No derivative securities are reported; Table II shows no entries and the filing contains only non-derivative common stock activity.