Russell David Eric 4

What Happened
Russell David Eric, Senior Vice President and Controller at Yum Brands, had 78.734 shares (derivative units) withheld to satisfy tax obligations tied to a conversion of deferred/phantom units. The withholding was recorded at $162.93 per share, totaling $12,828, and is reported as a disposition (transaction code F — payment of exercise price or tax liability).

Key Details

• Transaction date: 2026-02-09; filing date: 2026-02-10. No late filing is indicated in the record.
• Shares withheld/disposed: 78.734 shares at $162.93 per share; total value reported $12,828.
• Transaction type: Derivative settlement / tax withholding (code F). This is not an open-market sale for investment purposes but a tax-related share withholding.
• Shares owned after transaction: Not disclosed in this filing.
• Relevant footnotes from the filing:
  • F1: Conversion occurs on a one-for-one basis.
  • F2: Payments are made in accordance with elections on file (i.e., withholding method elected by the insider).
  • F3: Phantom units accrued under the YUM! Brands, Inc. Executive Income Deferral Program do not have expiration dates.

Context
This was a tax-withholding disposition following conversion of deferred/phantom units (a common administrative transaction). It should not be read as a traditional open-market sale signaling a change in sentiment. For derivative transactions like this, the insider typically converts deferred compensation into shares and has a portion withheld to cover taxes (often called a “sell-to-cover” or withholding).