Mezvinsky Scott 4

What Happened

• Scott Mezvinsky, KFC Division CEO at Yum Brands (YUM), exercised 483 stock options on 2026-03-02 at an exercise price of $68.00 (cost $32,844). The 483 shares from the exercise were promptly disposed the same day: 196 shares were delivered to the issuer (likely for tax withholding) at $168.16 for $32,959, and 287 shares were sold in the open market at $166.29 for $47,725. The filing also records the derivative conversion step (M) that shows the options were converted into shares (reported as a $0 disposition entry for the derivative instrument). Gross proceeds from the sales totaled $80,684; after paying the $32,844 exercise cost, the rough net cash before taxes/fees was about $47,840.

Key Details

• Transaction date: 2026-03-02.
• Option exercise: 483 shares exercised at $68.00 each (cost $32,844).
• Dispositions: 196 shares to issuer at $168.16 ($32,959); 287 shares sold open market at $166.29 ($47,725).
• Total proceeds from sales: $80,684; approximate net proceeds after exercise cost: ~$47,840 (before taxes/fees).
• Footnote: Transactions were made pursuant to a 10b5-1 plan (pre-arranged trading plan).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Report filed same day as the transactions (no late filing indicated).

Context

• This was an option exercise with immediate disposition of the resulting shares — effectively a cashless exercise/sell-to-cover where some shares are withheld or surrendered to cover taxes and the remainder sold. The 10b5-1 plan note indicates the sales were made under a pre-established trading plan, which is common for insiders and reduces the implication of opportunistic timing.