Biggs M. Brett 4

What Happened
Brett Biggs, a director of YUM Brands, received an award of 1,718.529 phantom units (derivative award) on Feb 6, 2026. The Form 4 reports the units were granted at $0.00 (no cash purchase); the filing was submitted Feb 9, 2026. These are not immediate open‑market purchases or sales but deferred compensation units tied to company stock.

Key Details

• Transaction date: 2026-02-06; Filing date (Form 4): 2026-02-09.
• Transaction type/code: Award/Acquisition (A); Amount: 1,718.529 units; Price reported: $0.00.
• Shares owned after transaction: Not specified in the filing.
• Footnotes from filing:
  • F1: Conversion occurs on a one‑for‑one basis (phantom units convert to shares 1:1).
  • F2: Payments under the plan are made according to elections on file.
  • F3: Phantom units under the YUM! Brands Director Deferred Compensation Plan do not expire.
• This is a derivative award (phantom units), not a market purchase or sale.

Context
Phantom units are a form of deferred compensation that typically track company stock value and are settled later in cash or stock according to plan rules and the executive’s payment elections. Such awards are routine for board members and do not necessarily signal buying or selling intent in the market.