Yum Brands (NYSE: YUM) CEO discloses RSU vesting schedule

Rhea-AI Filing Summary

Yum Brands Inc. reported insider equity activity for the CEO of Pizza Hut on a Form 4, with the earliest transaction date of 03/07/2025. The filing focuses on derivative securities in the form of restricted stock units tied to Yum Brands common stock.

The restricted stock units convert into common shares on a one-for-one basis. Vesting occurs at 25% per year beginning one year from the grant date, with the final distribution under each applicable grant occurring four years from the grant date. Certain positions reference prices such as $162.53, $144.83, $149.49 and $151.06, and show beneficial ownership amounts including 1,090.74 and 6,949.23 derivative securities held directly.

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^*

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)
03/07/2025

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

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)	03/07/2025		J	V	4.74		(2)	02/11/2032	Common Stock	4.74	$162.53	1,090.74	D
Restricted Stock Units	$131.31	03/07/2025		J	V	9.72		(2)	(3)	Common Stock	9.72	$162.53	2,235.72	D
Restricted Stock Units	(1)	03/07/2025		J	V	16.03		(2)	(3)	Common Stock	16.03	$162.53	3,686.03	D
Restricted Stock Units	(1)	03/07/2025		J	V	30.23		(2)	02/10/2029	Common Stock	30.23	$162.53	6,949.23	D
Restricted Stock Units	(1)	06/06/2025		J	V	5.35		(2)	02/11/2032	Common Stock	5.35	$144.83	1,096.09	D
Restricted Stock Units	$131.31	06/06/2025		J	V	10.96		(2)	(3)	Common Stock	10.96	$144.83	2,246.68	D
Restricted Stock Units	(1)	06/06/2025		J	V	18.07		(2)	(3)	Common Stock	18.07	$144.83	3,704.1	D
Restricted Stock Units	(1)	06/06/2025		J	V	34.07		(2)	02/10/2029	Common Stock	34.07	$144.83	6,983.3	D
Restricted Stock Units	(1)	09/12/2025		J	V	5.21		(2)	02/11/2032	Common Stock	5.21	$149.49	1,101.3	D
Restricted Stock Units	$131.31	09/12/2025		J	V	10.67		(2)	(3)	Common Stock	10.67	$149.49	2,257.35	D
Restricted Stock Units	(1)	09/12/2025		J	V	17.59		(2)	(3)	Common Stock	17.59	$149.49	3,721.69	D
Restricted Stock Units	(1)	09/12/2025		J	V	33.17		(2)	02/10/2029	Common Stock	33.17	$149.49	7,016.47	D
Restricted Stock Units	(1)	12/12/2025		J	V	5.18		(2)	02/11/2032	Common Stock	5.18	$151.06	1,106.48	D
Restricted Stock Units	$131.31	12/12/2025		J	V	10.61		(2)	(3)	Common Stock	10.61	$151.06	2,267.96	D
Restricted Stock Units	(1)	12/12/2025		J	V	17.49		(2)	(3)	Common Stock	17.49	$151.06	3,739.18	D
Restricted Stock Units	(1)	12/12/2025		J	V	32.98		(2)	02/10/2029	Common Stock	32.98	$151.06	7,049.45	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. The final distribution under this grant will occur four years from the grant date. There are no specified expiration dates for this grant.

	/s/ Brittany Bodkin, POA	12/29/2025
	** 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 does the Yum Brands (YUM) Form 4 filing disclose?

The filing discloses equity activity for the CEO of Pizza Hut involving derivative securities in the form of restricted stock units linked to Yum Brands Inc. common stock, with an earliest transaction date of 03/07/2025.

Who is the reporting person in this Yum Brands (YUM) Form 4?

The reporting person is an officer of Yum Brands, serving as CEO - Pizza Hut, and the Form 4 is filed by one reporting person.

What type of securities are involved in the Yum Brands (YUM) insider report?

The report involves restricted stock units classified as derivative securities, each convertible into Yum Brands common stock on a one-for-one basis.

How do the restricted stock units for the Yum Brands (YUM) CEO vest?

The restricted stock units vest at 25% per year beginning one year from the grant date, and the final distribution under each applicable grant occurs four years from the grant date.

What prices are referenced for the Yum Brands (YUM) restricted stock units?

The filing references prices including $162.53, $144.83, $149.49 and $151.06 associated with different restricted stock unit positions.

How many derivative securities does the Yum Brands (YUM) CEO hold after these transactions?

Examples of beneficial holdings following the reported transactions include 1,090.74 and 6,949.23 derivative securities, held in the form of restricted stock units with direct ownership.

Do the Yum Brands (YUM) restricted stock units have an expiration date?

The explanation notes that for certain grants there are no specified expiration dates, with final distribution occurring four years from the grant date.