[Form 4] Yum! Brands, Inc. Insider Trading Activity
Tracy L. Skeans, COO and CPO of Yum! Brands (YUM), reported multiple transactions dated 08/15/2025. The filing shows an award of 22,552 stock appreciation rights (SARs) with a $68 exercise/conversion price, of which 16,181 SARs are reported as beneficially owned following the transaction. On the same date the form records non-derivative activity: a grant or acquisition labeled 22,552 shares at $68, a disposition of 10,332 shares at $148.43 leaving 12,220 shares, and a sale of 12,220 shares at $148.24 reducing direct common stock holdings to 0. The report also lists indirect holdings of 2,103 shares through a 401(k) plan and 2,970 shares in the Skeans Trust. The form includes an explanation that vesting occurs 25% per year beginning one year from grant.
Tracy L. Skeans, COO e CPO di Yum! Brands (YUM), ha comunicato pi霉 operazioni datate 15/08/2025. La dichiarazione riporta un conferimento di 22.552 stock appreciation rights (SAR) con prezzo di esercizio/conversione pari a $68; dopo l鈥檕perazione risultano 16.181 SAR detenute a titolo utile. Nella stessa data il modulo registra attivit脿 non-derivate: una concessione o acquisizione indicata come 22.552 azioni a $68, una cessione di 10.332 azioni a $148,43 che lascia 12.220 azioni residue, e una vendita di queste 12.220 azioni a $148,24 che porta la detenzione diretta di azioni ordinarie a 0. Il rapporto indica inoltre partecipazioni indirette di 2.103 azioni in un piano 401(k) e 2.970 azioni nel Skeans Trust. Il modulo precisa che il vesting avviene al 25% l鈥檃nno a partire da un anno dalla data di grant.
Tracy L. Skeans, COO y CPO de Yum! Brands (YUM), inform贸 m煤ltiples transacciones con fecha 15/08/2025. El documento muestra una concesi贸n de 22.552 stock appreciation rights (SAR) con un precio de ejercicio/conversi贸n de $68; tras la operaci贸n constan 16.181 SAR en propiedad beneficiaria. En la misma fecha el formulario registra actividad no derivada: una adjudicaci贸n o adquisici贸n indicada como 22.552 acciones a $68, una disposici贸n de 10.332 acciones a $148,43 que deja 12.220 acciones, y una venta de esas 12.220 acciones a $148,24 reduciendo la tenencia directa de acciones comunes a 0. El informe tambi茅n lista participaciones indirectas de 2.103 acciones en un plan 401(k) y 2.970 acciones en el Skeans Trust. El formulario explica que el vesting es del 25% anual a partir del primer a帽o desde la concesi贸n.
Yum! Brands(YUM)鞚� COO 瓴� CPO鞚� Tracy L. Skeans臧� 2025-08-15鞛愲 鞐煬 瓯挫潣 瓯半灅毳� 氤搓碃頄堨姷雼堧嫟. 鞝滌稖靹滌棎電� 頄夓偓/鞝勴櫂 臧�瓴� $68鞚� 22,552 鞀ろ啞 鞏错攧毽嫓鞐愳澊靺� 甓岆Μ(SAR)臧� 攵�鞐悩鞐堨溂氅�, 瓯半灅 頉� 16,181 SAR鞚� 鞁れ鞝侅溂搿� 氤挫湢頃� 瓴冹溂搿� 旮半霅橃柎 鞛堨姷雼堧嫟. 臧欖潃 雮犾鞐� 鞏戩嫕鞐愲姅 牍勴寣靸� 頇滊彊霃� 旮办灛霅橃柎 鞛堧姅雿�: $68鞐� 響滉赴霅� 22,552 欤检潣 攵�鞐�/旆摑, $148.43鞐� 10,332 欤� 觳橂秳鞙茧 鞛旍棳 12,220 欤�, 攴鸽Μ瓿� 鞚� 12,220 欤茧ゼ $148.24鞐� 毵り皝頃橃棳 歆侅爲 氤挫湢 氤错喌欤缄皜 0臧� 霅橃棃雼り碃 霅橃柎 鞛堨姷雼堧嫟. 氤搓碃靹滌棎電� 霕愴暅 401(k) 頂岆灉鞚� 韱淀暅 臧勳爲 氤挫湢 2,103 欤检檧 Skeans Trust鞚� 2,970 欤缄皜 旮办灛霅橃柎 鞛堨姷雼堧嫟. 靹滌嫕鞐愲姅 氩犾姢韺呾澊 攵�鞐澕搿滊秬韯� 1雲� 頉勲秬韯� 毵る厔 25%鞌� 鞚措（鞏挫雼り碃 靹る獏霅橃柎 鞛堨姷雼堧嫟.
Tracy L. Skeans, COO et CPO de Yum! Brands (YUM), a d茅clar茅 plusieurs op茅rations dat茅es du 15/08/2025. Le d茅p么t indique l'attribution de 22 552 stock appreciation rights (SAR) avec un prix d'exercice/de conversion de 68 $, dont 16 181 SAR sont d茅clar茅s d茅tenus 脿 titre b茅n茅ficiaire apr猫s l'op茅ration. 脌 la m锚me date, le formulaire enregistre des activit茅s non d茅riv茅es : une attribution ou acquisition de 22 552 actions 脿 68 $, une cession de 10 332 actions 脿 148,43 $ laissant 12 220 actions, puis la vente de ces 12 220 actions 脿 148,24 $ r茅duisant la d茅tention directe d'actions ordinaires 脿 0. Le rapport mentionne 茅galement des avoirs indirects de 2 103 actions via un plan 401(k) et de 2 970 actions dans le Skeans Trust. Le formulaire pr茅cise que le vesting s'effectue 脿 hauteur de 25 % par an 脿 partir d'un an apr猫s l'attribution.
Tracy L. Skeans, COO und CPO von Yum! Brands (YUM), meldete mehrere Transaktionen datiert 15.08.2025. Die Einreichung weist eine Zuteilung von 22.552 Stock Appreciation Rights (SAR) mit einem Aus眉bungs-/Umwandlungspreis von $68 aus; nach der Transaktion werden 16.181 SAR als wirtschaftlich im Besitz befindlich angegeben. Am gleichen Datum verzeichnet das Formular nicht-derivative Aktivit盲ten: eine Gew盲hrung oder Erwerb von 22.552 Aktien zu $68, eine Ver盲u脽erung von 10.332 Aktien zu $148,43, wodurch 12.220 Aktien verbleiben, und der Verkauf dieser 12.220 Aktien zu $148,24, wodurch der direkte Bestand an Stammaktien auf 0 reduziert wird. Der Bericht listet au脽erdem indirekte Best盲nde von 2.103 Aktien 眉ber einen 401(k)-Plan und 2.970 Aktien im Skeans Trust. Das Formular erl盲utert, dass das Vesting zu 25% pro Jahr ab einem Jahr nach Gew盲hrung erfolgt.
- None.
- None.
Insights
TL;DR: Insider received SAR award and executed share disposals on the same date, altering direct ownership while retaining indirect holdings.
The filing documents a compensation-related grant of 22,552 stock appreciation rights to an executive officer, with standard time-based vesting (25% per year). Concurrently reported disposals and a sale resulting in 0 direct common shares indicate the officer reduced direct equity exposure while maintaining indirect holdings via a 401(k) and trust. This pattern is consistent with routine executive compensation and personal liquidity actions rather than governance conflicts, but investors should note the change in direct holdings and the remaining 16,181 SARs that may convert to shares over time.
TL;DR: Material numeric changes: 22,552 SARs granted; 22,552 shares acquired on record and 22,552 shares sold in two transactions leaving indirect holdings only.
The report is transaction-heavy but does not disclose proceeds beyond per-share prices: disposals at $148.43 and $148.24 on 08/15/2025. The SARs carry a $68 conversion price and show 16,181 underlying shares remaining as beneficially owned post-transaction. For valuation impact, the SAR strike well below reported sale prices suggests upside potential if the stock remains above $68 at exercise, but the filing itself is a factual record of insider compensation and liquidity moves rather than corporate-operational news.
Tracy L. Skeans, COO e CPO di Yum! Brands (YUM), ha comunicato pi霉 operazioni datate 15/08/2025. La dichiarazione riporta un conferimento di 22.552 stock appreciation rights (SAR) con prezzo di esercizio/conversione pari a $68; dopo l鈥檕perazione risultano 16.181 SAR detenute a titolo utile. Nella stessa data il modulo registra attivit脿 non-derivate: una concessione o acquisizione indicata come 22.552 azioni a $68, una cessione di 10.332 azioni a $148,43 che lascia 12.220 azioni residue, e una vendita di queste 12.220 azioni a $148,24 che porta la detenzione diretta di azioni ordinarie a 0. Il rapporto indica inoltre partecipazioni indirette di 2.103 azioni in un piano 401(k) e 2.970 azioni nel Skeans Trust. Il modulo precisa che il vesting avviene al 25% l鈥檃nno a partire da un anno dalla data di grant.
Tracy L. Skeans, COO y CPO de Yum! Brands (YUM), inform贸 m煤ltiples transacciones con fecha 15/08/2025. El documento muestra una concesi贸n de 22.552 stock appreciation rights (SAR) con un precio de ejercicio/conversi贸n de $68; tras la operaci贸n constan 16.181 SAR en propiedad beneficiaria. En la misma fecha el formulario registra actividad no derivada: una adjudicaci贸n o adquisici贸n indicada como 22.552 acciones a $68, una disposici贸n de 10.332 acciones a $148,43 que deja 12.220 acciones, y una venta de esas 12.220 acciones a $148,24 reduciendo la tenencia directa de acciones comunes a 0. El informe tambi茅n lista participaciones indirectas de 2.103 acciones en un plan 401(k) y 2.970 acciones en el Skeans Trust. El formulario explica que el vesting es del 25% anual a partir del primer a帽o desde la concesi贸n.
Yum! Brands(YUM)鞚� COO 瓴� CPO鞚� Tracy L. Skeans臧� 2025-08-15鞛愲 鞐煬 瓯挫潣 瓯半灅毳� 氤搓碃頄堨姷雼堧嫟. 鞝滌稖靹滌棎電� 頄夓偓/鞝勴櫂 臧�瓴� $68鞚� 22,552 鞀ろ啞 鞏错攧毽嫓鞐愳澊靺� 甓岆Μ(SAR)臧� 攵�鞐悩鞐堨溂氅�, 瓯半灅 頉� 16,181 SAR鞚� 鞁れ鞝侅溂搿� 氤挫湢頃� 瓴冹溂搿� 旮半霅橃柎 鞛堨姷雼堧嫟. 臧欖潃 雮犾鞐� 鞏戩嫕鞐愲姅 牍勴寣靸� 頇滊彊霃� 旮办灛霅橃柎 鞛堧姅雿�: $68鞐� 響滉赴霅� 22,552 欤检潣 攵�鞐�/旆摑, $148.43鞐� 10,332 欤� 觳橂秳鞙茧 鞛旍棳 12,220 欤�, 攴鸽Μ瓿� 鞚� 12,220 欤茧ゼ $148.24鞐� 毵り皝頃橃棳 歆侅爲 氤挫湢 氤错喌欤缄皜 0臧� 霅橃棃雼り碃 霅橃柎 鞛堨姷雼堧嫟. 氤搓碃靹滌棎電� 霕愴暅 401(k) 頂岆灉鞚� 韱淀暅 臧勳爲 氤挫湢 2,103 欤检檧 Skeans Trust鞚� 2,970 欤缄皜 旮办灛霅橃柎 鞛堨姷雼堧嫟. 靹滌嫕鞐愲姅 氩犾姢韺呾澊 攵�鞐澕搿滊秬韯� 1雲� 頉勲秬韯� 毵る厔 25%鞌� 鞚措（鞏挫雼り碃 靹る獏霅橃柎 鞛堨姷雼堧嫟.
Tracy L. Skeans, COO et CPO de Yum! Brands (YUM), a d茅clar茅 plusieurs op茅rations dat茅es du 15/08/2025. Le d茅p么t indique l'attribution de 22 552 stock appreciation rights (SAR) avec un prix d'exercice/de conversion de 68 $, dont 16 181 SAR sont d茅clar茅s d茅tenus 脿 titre b茅n茅ficiaire apr猫s l'op茅ration. 脌 la m锚me date, le formulaire enregistre des activit茅s non d茅riv茅es : une attribution ou acquisition de 22 552 actions 脿 68 $, une cession de 10 332 actions 脿 148,43 $ laissant 12 220 actions, puis la vente de ces 12 220 actions 脿 148,24 $ r茅duisant la d茅tention directe d'actions ordinaires 脿 0. Le rapport mentionne 茅galement des avoirs indirects de 2 103 actions via un plan 401(k) et de 2 970 actions dans le Skeans Trust. Le formulaire pr茅cise que le vesting s'effectue 脿 hauteur de 25 % par an 脿 partir d'un an apr猫s l'attribution.
Tracy L. Skeans, COO und CPO von Yum! Brands (YUM), meldete mehrere Transaktionen datiert 15.08.2025. Die Einreichung weist eine Zuteilung von 22.552 Stock Appreciation Rights (SAR) mit einem Aus眉bungs-/Umwandlungspreis von $68 aus; nach der Transaktion werden 16.181 SAR als wirtschaftlich im Besitz befindlich angegeben. Am gleichen Datum verzeichnet das Formular nicht-derivative Aktivit盲ten: eine Gew盲hrung oder Erwerb von 22.552 Aktien zu $68, eine Ver盲u脽erung von 10.332 Aktien zu $148,43, wodurch 12.220 Aktien verbleiben, und der Verkauf dieser 12.220 Aktien zu $148,24, wodurch der direkte Bestand an Stammaktien auf 0 reduziert wird. Der Bericht listet au脽erdem indirekte Best盲nde von 2.103 Aktien 眉ber einen 401(k)-Plan und 2.970 Aktien im Skeans Trust. Das Formular erl盲utert, dass das Vesting zu 25% pro Jahr ab einem Jahr nach Gew盲hrung erfolgt.
