Barr Keith 4

What Happened Keith Barr, a director of YUM Brands, received an award of 1,718.529 derivative units under the YUM! Brands, Inc. Director Deferred Compensation Plan on 2026-02-06. The units were reported as acquired at $0.00 (derivative award); the filing lists no immediate cash value because these are phantom deferred-comp units rather than new open-market shares.

Key Details

• Transaction date: 2026-02-06; Form 4 filed: 2026-02-09 (timely).
• Transaction type/code: Award/Grant (A); amount: 1,718.529 units; price reported: $0.00 (derivative).
• Conversion: units convert on a one-for-one basis to common shares (Footnote F1).
• Plan and payout: Units are phantom units under the Director Deferred Compensation Plan; payments are made according to the director’s elections on file and the units do not expire (Footnotes F2–F3).
• Shares owned after transaction: not specified in the provided filing.

Context This was an equity award (deferred-compensation units) typical for non-employee directors and not an open-market purchase or sale. Phantom units represent a future right to value or shares per the plan terms and do not necessarily indicate immediate buying or selling intent. For retail investors, awards to directors are common compensation and should be viewed differently from direct purchases or sales when assessing insider conviction.