Mark James King Form 4 YUM BRANDS / Mark James King ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:	3235-0287
Estimated average burden
hours per response:	0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

King Mark James

(Last) (First) (Middle)

1441GARDINER LANE

(Street)

LOUISVILLE KY 40213

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
YUM BRANDS INC [ YUM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CEO - Taco Bell

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	03/10/2023		J	V	13.31		(2)	(3)	Common Stock	13.31	$124.58	2,754.31	D
Restricted Stock Units	$131.31	03/10/2023		J	V	18.49		(2)	(3)	Common Stock	18.49	$124.58	3,826.49	D
Restricted Stock Units	(1)	06/09/2023		J	V	12.49		(2)	(3)	Common Stock	12.49	$133.44	2,766.8	D
Restricted Stock Units	$131.31	06/09/2023		J	V	17.35		(2)	(3)	Common Stock	17.35	$133.44	3,843.84	D
Restricted Stock Units	(1)	09/08/2023		J	V	13.23		(2)	(3)	Common Stock	13.23	$126.53	2,780.03	D
Restricted Stock Units	$131.31	09/08/2023		J	V	18.38		(2)	(3)	Common Stock	18.38	$126.53	3,862.22	D
Restricted Stock Units	(1)	12/08/2023		J	V	12.92		(2)	(3)	Common Stock	12.92	$124.34	2,667.95	D
Restricted Stock Units	$131.31	12/08/2023		J	V	17.95		(2)	(3)	Common Stock	17.95	$124.34	3,707.17	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Issuer's common stock. Vesting occurs upon distribution date of grant, that is 4 years from grant date.

2. Vesting occurs 25% per year beginning one year from grant date.

3. The final distribution under this grant will occur four years from the grant date. There are no specified expiration dates for this grant.

	/s/ M. Gayle Hobson, POA	12/20/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.