Connor Christopher M 4

What Happened

• Christopher M. Connor, a director of YUM Brands Inc. (YUM), received an award of 1,841.282 derivative shares (phantom units) on 2026-02-06. The units were granted at $0.00 (no cash purchase) and reported as a derivative award (transaction code A).

Key Details

• Transaction date: 2026-02-06; Filing date: 2026-02-09 (filed within the normal reporting window).
• Quantity: 1,841.282 derivative shares; reported acquisition price: $0.00.
• Shares owned after transaction: not specified in the filing.
• Notes from the filing:
  • F1: Conversion occurs on a one-for-one basis (phantom units convert 1:1 to the referenced share).
  • F2: Payments will be made according to elections on file (deferral/cash vs. stock elections).
  • F3: Phantom units under the Director Deferred Compensation Plan do not expire.
• Transaction type: Award/Grant of phantom (derivative) units — not an open-market buy or sale.

Context

• Phantom units are a form of deferred compensation tied to the company’s stock value; they don’t involve an immediate market purchase or sale and often pay out later in cash or shares per the director’s election. Such awards are routine for non-employee directors and don’t by themselves indicate the director’s sentiment about the stock.