Yum (YUM) COO Tracy Skeans exercises RSUs, disposes shares for taxes

Rhea-AI Filing Summary

Yum (YUM) executive Tracy L. Skeans, the company’s COO and CPO, reported equity transactions dated February 10, 2026. She exercised two sets of restricted stock units (RSUs), converting 1,385 and 1,761 RSUs into the same number of common shares on a one-for-one basis.

To cover tax obligations, Skeans disposed of 547 and 694 common shares in transactions coded “F,” each at a reported price of $158.85 per share. Following these transactions, she held 9,754 common shares directly, and RSU footnotes state vesting occurs 25% per year beginning one year from the grant 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

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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)
02/10/2026

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
Common Stock	02/10/2026		M		1,385	A	$158.85	9,234	D
Common Stock	02/10/2026		F		547	D	$158.85	8,687	D
Common Stock	02/10/2026		M		1,761	A	$158.85	10,448	D
Common Stock	02/10/2026		F		694	D	$158.85	9,754	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
Restricted Stock Units	$131.31	02/10/2026		M			1,385	(1)	(2)	Common Stock	1,385	$0	1,386.27	D
Restricted Stock Units	(3)	02/10/2026		M			1,761	(1)	02/10/2029	Common Stock	1,761	$0	5,288.45	D

Explanation of Responses:

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

2. The final distribution under this grant will occur four years from the grant date. There are no specified expiration dates for this grant.

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

	/s/ Brittany Bodkin, POA	02/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Yum (YUM) COO Tracy L. Skeans report in this Form 4?

Tracy L. Skeans reported RSU conversions into common stock and share dispositions for tax withholding on February 10, 2026. She exercised 1,385 and 1,761 restricted stock units and disposed of 547 and 694 shares to satisfy tax liabilities.

How many Yum (YUM) shares does Tracy L. Skeans hold after these transactions?

After the reported transactions, Tracy L. Skeans directly holds 9,754 shares of Yum common stock. This figure reflects RSU conversions coded “M” and share dispositions coded “F” for tax withholding, as disclosed in the non-derivative holdings table.

What types of securities did Tracy L. Skeans transact in for Yum (YUM)?

She transacted in both restricted stock units and common stock. RSUs were converted into common shares through transactions coded “M,” while common stock was disposed of in transactions coded “F” to cover tax obligations associated with those equity awards.

What do the transaction codes M and F mean in this Yum (YUM) Form 4?

Code M indicates the exercise or conversion of a derivative security, here restricted stock units converting into common stock. Code F indicates payment of tax liability by delivering shares, meaning some common stock was withheld or disposed to satisfy taxes.

How do Tracy L. Skeans’ Yum (YUM) RSUs vest according to the filing?

The footnotes explain that RSU vesting occurs 25% per year beginning one year from the grant date. The final distribution under the grant takes place four years from grant, with conversion into common stock occurring on a one-for-one basis.

Were Tracy L. Skeans’ Yum (YUM) RSU conversions one-for-one into common stock?

Yes. A footnote states that conversion occurs on a one-for-one basis, meaning each restricted stock unit converts into one share of Yum common stock when exercised in the transactions reported on February 10, 2026.