Yum! Brands COO/CPO Exercises SARs and Sells $2.2M in Common Stock Under 10b5-1 Plan
YUM BRANDS INC
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Filing Summary
# Insider Sale: YUM BRANDS INC ($YUM)
**Reporting Owner:** Skeans Tracy L (COO and CPO)
**Filing Date:** 2026-11-04 | **Transaction Date:** 2026-11-04
### Transaction Summary
- **Type:** Stock Appreciation Right Exercise & Sale (Rule 10b5-1)
- **Shares Sold (Open Market):** 13,812 shares @ $162.00
- **Gross Proceeds:** $2,237,544.00
- **Withheld/Disposed for Costs (Code D):** 12,848 shares @ $162.00 ($2,081,376.00)
- **Shares Owned After:** 3 direct shares
- **Remaining Derivative Holdings:** 11,450 SARs
**Significance:** Low (Pre-scheduled Rule 10b5-1 plan execution and option exercise)
Comprehensive Analysis
Executive Summary
On November 4, 2026, Tracy L. Skeans, Chief Operating Officer and Chief People Officer of Yum! Brands, Inc. ($YUM), executed transactions involving the exercise of Stock Appreciation Rights (SARs) and subsequent disposition of common stock pursuant to a pre-arranged Rule 10b5-1 trading plan.
Transaction Details
- Derivative Exercise (Code M): Skeans exercised 26,660 SARs at an exercise price of $78.07 per share expiring on February 12, 2028.
- Disposition for Exercise Costs/Taxes (Code D): 12,848 shares were withheld/surrendered at $162.00 per share ($2,081,376 total value) to cover exercise costs and tax obligations.
- Open Market Sale (Code S): Skeans sold 13,812 shares at $162.00 per share, generating gross proceeds of $2,237,544.00.
- Direct Ownership Post-Transaction: Direct holdings of common stock stand at 3 shares, while derivative holdings remain at 11,450 SARs.
Market and Trading Assessment
The transactions were executed under an affirmative Rule 10b5-1 plan adopted prior to the trades, which reduces regulatory concern regarding the timing of the sales. Given that this is a routine option/SAR exercise-and-sell transaction scheduled ahead of time, market significance is rated as Low.
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Important Disclaimer
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