Yum! Brands Elects New Directors, Updates Compensation

TL;DR

YUM adds 2 directors, revamps exec pay. Board shakeup incoming.

AI Summary

On January 10, 2025, Yum! Brands, Inc. announced changes to its board of directors and executive compensation. The company elected two new directors, David Gibbs and Christopher Turner, to its board, effective immediately. Additionally, the company announced a new long-term incentive plan for its named executive officers, which will be detailed in a forthcoming proxy statement.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing reports routine board and compensation changes, with no immediate negative financial implications.

Key Players & Entities

• YUM! BRANDS, INC. (company) — Registrant
• David Gibbs (person) — Newly elected director
• Christopher Turner (person) — Newly elected director
• January 10, 2025 (date) — Date of earliest event reported

FAQ

From the Filing

0001041061-25-000004.txt : 20250115 0001041061-25-000004.hdr.sgml : 20250115 20250114185952 ACCESSION NUMBER: 0001041061-25-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20250110 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20250115 DATE AS OF CHANGE: 20250114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: YUM BRANDS INC CENTRAL INDEX KEY: 0001041061 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 133951308 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13163 FILM NUMBER: 25530554 BUSINESS ADDRESS: STREET 1: 1441 GARDINER LANE CITY: LOUISVILLE STATE: KY ZIP: 40213 BUSINESS PHONE: 5028748300 MAIL ADDRESS: STREET 1: 1900 COLONEL SANDERS LANE CITY: LOUISVILLE STATE: KY ZIP: 40213 FORMER COMPANY: FORMER CONFORMED NAME: TRICON GLOBAL RESTAURANTS INC DATE OF NAME CHANGE: 19970627 FORMER COMPANY: FORMER CONFORMED NAME: GREAT AMERICAN RESTAURANT CO DATE OF NAME CHANGE: 19970618 8-K 1 yum-20250110.htm 8-K yum-20250110 0001041061 false 0001041061 2025-01-10 2025-01-10 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) January 10, 2025 ________________________ YUM! BRANDS, INC. (Exact name of registrant as specified in its charter) Commission file number 1-13163 North Carolina 13-3951308 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1441 Gardiner Lane, Louisville, Kentucky 40213 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: (502) 874-8300 Former name or former address, if changed since last report: N/A Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act   Title of Each Class Trading Symbol Name of Each Exchange on Which Registered   Common Stock, no par value YUM New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐ Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On January 10, 2025, Mr. Sabir Sami, Chief Executive Officer of the KFC Division (“KFC”) of Yum! Brands, Inc. (the “Company”), informed the Company that he plans to resign as Chief Executive Officer of KFC on March 1, 2025. Following his resignation as the CEO of KFC, Mr. Sami will continue to provide advisory services to the Company through March 1, 2026. Scott Mezvinsky, currently the President of Taco Bell North America and International of the Taco Bell Division of