Powell Aaron 4

What Happened
Aaron Powell, CEO of Pizza Hut (a division of Yum Brands, ticker YUM), exercised stock-settled derivative awards on 2026-02-10. He converted/exercised a total of 2,894 shares at an exercise price of $158.85 per share (two tranches: 1,133 and 1,761 shares) for a gross value of about $459,712. To cover exercise price/taxes, 1,141 shares were withheld (447 and 694 shares), valued at about $181,248, resulting in a net increase of 1,753 shares to his holdings.

Key Details

• Transaction date: 2026-02-10; Form 4 filed 2026-02-12 (timely, within required reporting window).
• Exercise details: 1,133 shares @ $158.85 = $179,977; 1,761 shares @ $158.85 = $279,735. Total gross = $459,712.
• Tax/exercise withholding: 447 shares @ $158.85 = $71,006; 694 shares @ $158.85 = $110,242. Total withheld = $181,248.
• Derivative conversions: two matching derivative "Disposed" entries at $0.00 for 1,133 and 1,761 shares (see footnote F3: conversion is one-for-one).
• Net shares added: 2,894 acquired − 1,141 withheld = 1,753 net shares.
• Footnotes: F1—vesting 25% per year beginning one year from grant; F2—final distribution four years from grant, no specified expiration; F3—conversion on a one-for-one basis.
• Shares owned after the transaction are not stated in the provided filing excerpt.

Context
This filing shows an option/derivative exercise (transaction code M) with tax/price withholding (code F), a common way executives settle exercise costs without a cash payment. Exercises increase an insider’s share count (a purchase-like event), while the withheld shares are routine tax-withholding and not an open-market sale. The filing appears timely and contains standard vesting/conversion footnotes.