4/A: Yum Brands Executive Amends Filing to Correct Phantom Stock Reporting Error

David Eric Russell, Vice President and Controller of Yum Brands, files an amended Form 4 to correct an administrative error in the reporting of phantom stock shares withheld for FICA.

Summary

• David Eric Russell, a Vice President and Controller at Yum Brands, filed an amended Form 4 with the SEC.
• The amendment corrects an error in the original filing from February 10, 2025, regarding the number of phantom stock shares withheld to cover FICA taxes.
• The corrected filing shows a transaction on February 10, 2025, involving phantom stock, with 72 shares initially reported and subsequently corrected.
• The price per share for the phantom stock is $143.56.
• Following the corrected transaction, Russell directly owns 752.4441 phantom stock shares and 2,371.0024 phantom stock shares.

Sentiment

Score: 7

Explanation: The document is a routine correction of an administrative error, which is neither particularly positive nor negative. The sentiment is neutral to slightly positive as it demonstrates attention to detail and compliance.

Industry Context

Executive compensation and stock ownership are closely monitored in the restaurant industry, as they align management's interests with those of shareholders. Accurate reporting of these details is crucial for transparency and investor confidence.

Comparison to Industry Standards

• Yum Brands' executive compensation practices are generally in line with those of its peers in the quick-service restaurant industry, such as McDonald's (MCD) and Restaurant Brands International (QSR).
• Phantom stock is a common form of equity compensation used by these companies to incentivize executives.
• The specific details of phantom stock plans, such as vesting schedules and payout terms, can vary significantly between companies.

Stakeholder Impact

• The correction of the filing ensures accurate information for shareholders regarding executive compensation.
• This promotes transparency and trust in the company's financial reporting.

Key Dates

Keywords

Form 4, Yum Brands, Phantom Stock, SEC Filing, Amendment, FICA, David Eric Russell, Executive Compensation