T. Rowe Price (NYSE: YUM) reports 9.88M shares, 3.6% ownership (Amendment)

Rhea-AI Filing Summary

T. Rowe Price Investment Management, Inc. filed Amendment No. 1 to a Schedule 13G/A reporting 9,881,620 shares of YUM BRANDS INC common stock, representing 3.6% of the class. The filing shows sole voting power over 9,616,476 shares and sole dispositive power over 9,881,620 shares. The filing is signed by Ellen York, Vice President, dated 05/15/2026. The filer states that it does not admit beneficial ownership in the securities.

Insights

Portfolio Governance Analyst

Large institutional holding disclosed; governance and voting footprint visible.

The amendment reports 9,881,620 shares and 3.6% ownership of YUM BRANDS INC, with sole voting power over 9,616,476 shares. This clarifies the filer’s voting and disposition authorities as of the filing.

Future filings may show changes in position size or voting status; changes would appear in subsequent Schedule 13 filings if thresholds or intentions change.

Compliance Counsel

Amendment includes a formal disclaimer about beneficial ownership.

The text contains an explicit statement denying beneficial ownership, a common legal precaution in institutional filings. The signature block shows an authorized officer signed on 05/15/2026.

For legal tracking, monitor whether subsequent amendments alter the ownership percentage or remove the disclaimer.

Key Figures

Reported shares beneficially owned: 9,881,620 shares Percent of class: 3.6% Sole voting power: 9,616,476 shares +3 more

6 metrics

Reported shares beneficially owned 9,881,620 shares Amount beneficially owned as stated in Item 4

Percent of class 3.6% Percent of class reported in Item 4

Sole voting power 9,616,476 shares Sole power to vote reported in Item 4(c)(i)

Sole dispositive power 9,881,620 shares Sole power to dispose reported in Item 4(c)(iii)

CUSIP 988498101 CUSIP for YUM Brands Inc common stock listed on cover

Signature date 05/15/2026 Date in signature block

Key Terms

Schedule 13G/A, beneficial ownership, sole dispositive power

3 terms

Schedule 13G/A regulatory

"filed Amendment No. 1 to a Schedule 13G/A reporting ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficial ownership regulatory

"declares and affirms that the filing shall not be construed as an admission that Price Investment Management is the beneficial owner"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 9881620"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 10:06 AM Learn about SEC filing dates

FAQ

What stake does T. Rowe Price report in YUM Brands (YUM)?

T. Rowe Price reports ownership of 9,881,620 shares, equal to 3.6% of the class. The filing lists sole voting power for 9,616,476 shares and sole dispositive power for 9,881,620 shares.

Does T. Rowe Price claim to be the beneficial owner of YUM shares?

No. The filing includes an explicit statement denying beneficial ownership. The filer declares the record should not be construed as an admission of beneficial ownership in the securities.

When was the Schedule 13G/A amendment signed and who signed it?

The amendment is signed by Ellen York, Vice President, with the signature dated 05/15/2026. The filing identifies T. Rowe Price Investment Management, Inc. as the reporting entity.

Which powers over the shares does the filing disclose?

The filing discloses sole power to vote or direct the vote for 9,616,476 shares and sole power to dispose for 9,881,620 shares, with no shared voting or dispositive power reported.

What CUSIP is associated with the reported YUM common stock?

The filing lists the CUSIP for YUM Brands Inc common stock as 988498101, tied to the class of securities referenced in the Schedule 13G/A amendment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

YUM BRANDS INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

988498101

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 988498101

1

Names of Reporting Persons

T. Rowe Price Investment Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 9,616,476.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 9,881,620.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,881,620.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.6 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: YUM BRANDS INC
(b)	Address of issuer's principal executive offices: 1441 GARDINER LANE, LOUISVILLE, KY, 40213
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 988498101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 9881620
(b)	Percent of class: 3.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 9616476
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 9881620
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	05/15/2026