Yum! Brands YUM insider Form 4 shows SAR exercise, share sales

Rhea-AI Filing Summary

Yum! Brands COO and CPO reported multiple insider stock transactions in common stock on 11/17/2025. The executive exercised stock appreciation rights with an exercise price of $78.07 covering 25,553 shares of common stock, then reported sales and dispositions of common stock at prices around $149.02–$149.18, including transactions for 13,387 and 12,166 shares. Following these trades, the filing shows remaining direct common stock holdings as well as indirect holdings of 2,103 shares in a 401(k) plan and 2,970 shares held in the Skeans Trust. The transactions are noted as being made pursuant to a Rule 10b5-1 trading plan.

Insider Trade Summary

Net Seller: 24,332 shares ($3,627,901)

Net Sell 10 txns

Insider Skeans Tracy L

Role COO and CPO

Sold 24,332 shs ($3.63M)

Type	Security	Shares	Price	Value
Exercise	Stock Appreciation Right	25,553	$0.00	--
Exercise	Stock Appreciation Right	25,553	$0.00	--
Exercise	Common Stock	25,553	$78.07	$1.99M
Disposition	Common Stock	13,387	$149.02	$1.99M
Sale	Common Stock	12,166	$149.18	$1.81M
Exercise	Common Stock	25,553	$78.07	$1.99M
Disposition	Common Stock	13,387	$149.02	$1.99M
Sale	Common Stock	12,166	$149.02	$1.81M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Appreciation Right — 35,423 shares (Direct); Common Stock — 25,553 shares (Direct); Common Stock — 2,103 shares (Indirect, 401(k) Plan)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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).

X

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)
11/17/2025

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	11/17/2025		M		25,553(1)	A	$78.07	25,553	D
Common Stock	11/17/2025		D		13,387(1)	D	$149.02	12,166	D
Common Stock	11/17/2025		S		12,166(1)	D	$149.18	0	D
Common Stock	11/17/2025		M		25,553(1)	A	$78.07	25,553	D
Common Stock	11/17/2025		D		13,387(1)	D	$149.02	12,166	D
Common Stock	11/17/2025		S		12,166(1)	D	$149.02	0	D
Common Stock								2,103	I	401(k) Plan
Common Stock								2,970	I	Skeans Trust

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	$78.07	11/17/2025		M			25,553(1)	02/12/2022	02/12/2028	Common Stock	25,553	$0	35,423	D
Stock Appreciation Right	$78.07	11/17/2025		M			25,553(1)	02/12/2022	02/12/2028	Common Stock	25,553	$0	9,870	D

Explanation of Responses:

1. Pursuant to 10b5-1 Plan

	/s/ Brittany Bodkin, POA	11/18/2025
	** 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 COO report on 11/17/2025?

The COO and CPO of Yum! Brands (YUM) reported exercising stock appreciation rights with an exercise price of $78.07 for 25,553 shares of common stock and then disposing of shares in multiple transactions on 11/17/2025 at prices around $149.02–$149.18.

How many Yum! Brands (YUM) shares did the COO sell or dispose of?

The filing shows common stock transactions including dispositions of 13,387 and 12,166 shares of Yum! Brands common stock, executed at prices near $149.02–$149.18 per share.

What derivative securities did the YUM COO exercise in this Form 4?

The COO exercised stock appreciation rights with a conversion or exercise price of $78.07, covering 25,553 underlying shares of common stock with an exercisable date of 02/12/2022 and an expiration date of 02/12/2028.

What Yum! Brands (YUM) shares does the COO still beneficially own after the transactions?

After the reported transactions, the executive continues to beneficially own 2,103 shares indirectly through a 401(k) Plan and 2,970 shares indirectly through the Skeans Trust, in addition to remaining derivative holdings of stock appreciation rights.

Were the YUM COO transactions under a Rule 10b5-1 plan?

Yes. The filing indicates that the transactions were made pursuant to a Rule 10b5-1 trading plan, as noted in the explanation of responses and the checkbox for such plans.

What is the relationship of the reporting person to Yum! Brands (YUM)?

The reporting person is identified as an officer of Yum! Brands, serving as COO and CPO, and filed this Form 4 as a single reporting person.