Yum! Brands

On June 27, 2023, Mr. Mark King, Chief Executive Officer of the Taco Bell Division (“Taco Bell”) of Yum! Brands, Inc. (the “Company”), informed the Company that he plans to retire as Chief Executive Officer of Taco Bell on December 31, 2023. Sean Tresvant, currently the Taco Bell Global Chief Brand and Strategy Officer, will become Chief Executive Officer of Taco Bell on January 1, 2024.

(b) On December 22, 2022, Elane B. Stock submitted her resignation as a director of Yum! Brands, Inc. (the “Company”), which resignation was effective on that date. Ms. Stock’s resignation was not the result of any disagreement with the Company on any matter relating to its operations, policies or practices.

On September 17, 2021, Mr. Tony Lowings, 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 December 31, 2021. Mr. Lowings will continue to report to David Gibbs, the Chief Executive Officer of the Company, in another capacity until his retirement in March 2022 and will assist the Company with transition needs through that date. Sabir Sami, currently KFC Division Chief Operating Officer and Managing Director of KFC Asia, will become Chief Executive Officer of the KFC Division on January 1, 2022.

Yum! Brands, Inc. (the “Company”) has appointed Tracy Skeans, currently its Chief Transformation and People Officer, to the role of Chief Operating Officer and Chief People Officer, effective January 29, 2021. Ms. Skeans, 47, has served as Chief Transformation and People Officer of the Company since January 2016. Ms. Skeans prior positions with the Company and its subsidiaries have included President of Pizza Hut International (January 2015 to December 2015) and Chief People Officer of the Pizza Hut Division (October 2011 to December 2014).

(d) YUM! Brands, Inc. (the “Company”) is filing this amendment to its Current Report on Form 8-K filed on October 13, 2020, which reported the appointment of Lauren R. Hobart to the Company’s Board of Directors (the “Board”). At the time of her appointment, the Board had not appointed Ms. Hobart to any of its standing committees. On November 13, 2020, the Board appointed Ms. Hobart to the Board’s Audit Committee, effective immediately.

(b) On October 9, 2020, Michael J. Cavanagh, submitted his resignation as a director of Yum! Brands, Inc. (the “Company”), which resignation was effective on that date. Mr. Cavanagh’s resignation was not the result of any disagreement with the Company on any matter relating to its operations, policies or practices. (d) On October 9, 2020, the Board of Directors of the Company appointed Lauren R. Hobart as a director. The appointment is effective November 12, 2020, and she will stand for election to the Board by shareholders at the Company’s next Annual Meeting. As of the date of this filing, Ms. Hobart has not been appointed to a committee of the Board. Consistent with the Company's standard compensation arrangements for non-employee directors, which are described in the Company's most recent proxy statement, Ms.

On March 29, 2020, YUM! Brands, Inc. (the “Company”) and David W. Gibbs, Chief Executive Officer of the Company agreed to changes to his base salary. Effective March 30, 2020, Mr. Gibbs has voluntarily elected to forgo all salary compensation for the balance of 2020. The Company will redirect his forgone salary to assist with funding two efforts: (1) one-time $1,000 bonuses to the Company’s nearly 1,200 Restaurant General Managers at KFC, Pizza Hut, Taco Bell and The Habit Burger Grill to acknowledge their efforts managing teams and business continuity affected by COVID-19; (2) the Yum! Brands Foundation Global Employee Medical Relief Fund which will provide financial hardship grants to those directly impacted by COVID-19, including company and franchise restaurant employees with a COVID-19 diagnosis or who are caring for someone with a confirmed diagnosis, as well as other front-line wo…

(d) YUM! Brands, Inc. (the “Company”) is filing this amendment to its Current Report on Form 8-K filed on January 13, 2020, which reported the appointment of Keith Barr and Annie Young-Scrivner to the Company’s Board of Directors (the “Board”). At the time of their appointment, the Board had not appointed Mr. Barr or Ms. Young-Scrivner to any of its standing committees. On January 24, 2020, the Board appointed Mr. Barr to the Board’s Management Planning and Development Committee and Ms. Young-Scrivner to the Board’s Audit Committee, effective immediately.

(d) On January 12, 2020, the Board of Directors of Yum! Brands, Inc. (the “Company”) appointed Keith Barr and Annie Young-Scrivner as directors. Their appointment is effective January 24, 2020, and each will stand for election to the Board by shareholders at the Company’s next Annual Meeting. As of the date of this filing, neither Mr. Barr nor Ms. Young-Scrivner has been appointed to a committee of the Board. Consistent with the Company's standard compensation arrangements for non-employee directors, which are described in the Company's most recent proxy statement, Mr. Barr and Ms. Young-Scrivner will each receive a one-time stock grant with a fair market value of $25,000 on January 24, 2020 and a prorated portion of their annual stock retainer. There is no arrangement or understanding between Mr. Barr or Ms.

On August 9, 2019, the Board of Directors of Yum! Brands, Inc. (the Company) elected David Gibbs, currently President and Chief Operating Officer of the Company, as Chief Executive Officer of the Company, effective January 1, 2020, at which time Greg Creed, the Company’s current Chief Executive Officer, will retire as Chief Executive Officer of the Company. Mr. Gibbs (55) who has been with the Company for 30 years, has served as President and Chief Operating Officer of the Company since August 8, 2019. Previously, he served as President, Chief Operating Officer and Chief Financial Officer of the Company beginning in January 2019. He served as the Company’s President and Chief Financial Officer from May 2016 until January 2019. Previously, Mr.

On June 26, 2019, Yum Brands, Inc. (the “Company”) announced the appointment of Chris Turner as Chief Financial Officer, effective August 8, 2019. In this capacity, Mr. Turner will serve as the Company’s principal financial officer and will assume global responsibility for finance, corporate strategy, supply chain and information technology, effective August 8, 2019. David Gibbs, the Company’s President, Chief Operating Officer and Chief Financial Officer, will continue to serve as the Company’s President and Chief Operating Officer, following the appointment of Mr. Turner. Mr. Turner, 44, has been the Senior Vice President and General Manager of the PepsiCo Global Walmart Service Team, a business unit of the global food and beverage company, since December 2017, where he is responsible for the strategy and operation of the PepsiCo Walmart Service Team. Mr.

Yum! Brands, Inc. (the “Company”) has appointed David Gibbs, currently its President and Chief Financial Officer, to the additional role of Chief Operating Officer, effective January 25, 2019. Mr. Gibbs, 55, has served as President and Chief Financial Officer of the Company since May 2016. Mr. Gibbs's prior positions with the Company and its subsidiaries have included Chief Executive Officer of the Company’s Pizza Hut Division (January 2015 to May 2016), President of Pizza Hut U.S. (January 2014 to December 2014), President and Chief Financial Officer of Yum! Restaurants International, Inc. (May 2012 through December 2013). In connection with his appointment, Mr. Gibbs will receive a restricted stock unit grant which will have a grant date value of $5 million and a scheduled vesting date of February 11, 2024.

(b) Departure of Named Executive Officer On September 24, 2018, Mr. Roger Eaton, Chief Executive Officer of KFC Division (“KFC”), a subsidiary of Yum! Brands, Inc. (the “Company”), informed the Company that he plans to resign as Chief Executive Officer of KFC on December 31, 2018. Mr. Eaton will continue to report to Greg Creed, the Chief Executive Officer of the Company, in another capacity until his retirement in March 2019 and will assist the Company with various transition issues through that date. Tony Lowings, currently President and Chief Operating Officer of Yum Restaurants International, will become Chief Executive Officer of KFC on January 1, 2019.

YUM! Brands, Inc. (the “Company”) announced today that Brian Niccol, 43, notified the Company on February 12, 2018 that he intends to resign as Chief Executive Officer, Taco Bell, effective February 13, 2018, to pursue other interests.

YUM! Brands, Inc. (the “Company”) is filing this amendment to its Current Report on Form 8-K filed on November 22, 2017, which reported the appointment of Tanya L. Domier to the Company’s Board of Directors (the “Board”). At the time of her appointment, the Board had not appointed Ms. Domier to any of its standing committees. On January 26, 2018, the Board appointed Ms. Domier to the Board’s Audit Committee, effective immediately.

(d) On November 16, 2017, the Board of Directors of Yum! Brands, Inc. (the “Company”) appointed Tanya L. Domier as a director. The appointment is effective as of January 1, 2018, and she will stand for election to the Board by shareholders at the Company’s next Annual Meeting. As of this filing, Ms. Domier has not been appointed to a committee of the Board. Consistent with the Company's standard compensation arrangements for non-employee directors, which are described in the Company's most recent proxy statement, Ms. Domier will receive a one-time stock grant with a fair market value of $25,000 on January 2, 2018 and a prorated portion of her annual stock retainer. There is no arrangement or understanding between Ms. Domier or any other person pursuant to which she was selected as a director.

As previously announced, on February 16, 2017, Keith A. Meister, submitted his resignation as a director of Yum! Brands, Inc. (the “Company”), effective February 16, 2017. Mr. Meister’s resignation was not the result of any disagreement with the Company on any matter relating to its operations, policies or practices.

YUM! Brands, Inc. (the “Company”) is filing this amendment to its Current Report on Form 8-K filed on September 23, 2016, which reported the appointment of Paget Alves to the Company’s Board of Directors (the “Board”). At the time of his appointment, the Board had not appointed Mr. Alves to any of its standing committees. On January 27, 2017, the Board appointed Mr. Alves to the Board’s Audit Committee, effective immediately.

Yum! Brands, Inc. (“ YUM ”) intends to separate its existing business in the People’s Republic of China from the remainder of YUM’s businesses to form two independent, stand-alone publicly traded companies, as previously announced, through a dividend of all of the outstanding common stock of a new company known as Yum China Holdings, Inc. (“ Yum China ”) to YUM shareholders (the “ Spin-Off ”). In connection with the Spin-Off, Mr. Jonathan S. Linen will depart from YUM’s Board of Directors (the “ Board ”) and its Audit Committee and will become a member of the Yum China board of directors. Mr. Linen’s resignation from the Board and appointment to the Yum China board of directors is expected to be effective as of October 12, 2016.

Yum! Brands, Inc. (the “Company”) has appointed David Gibbs as its President and Chief Financial Officer effective May 2, 2016. Mr. Gibbs, 53, previously served as Chief Executive Officer of the Company’s Pizza Hut Division since January 2015. Mr. Gibbs's prior positions with the Company and its subsidiaries have included President of Pizza Hut U.S (January 2014 to December 2014), President and Chief Financial Officer of Yum! Restaurants International, Inc. (“YRI”) (May 2012 through December 2013), Chief Financial Officer of YRI (January 2011 to April 2012), and Chief Financial Officer of Pizza Hut U.S. (September 2005 to December 2010). In connection with his appointment, Mr. Gibbs will receive an additional stock appreciation rights grant which will have an economic value of $500,000 and will vest in four equal annual installments commencing May 20, 2017.

Yum! Brands, Inc. (the “Company”) is filing this amendment to its Current Report on Form 8-K filed on February 2, 2016, which reported the appointment of Justin Skala to the Company's Board of Directors (the “Board”). At the time of his appointment, the Board had not appointed Mr. Skala to any of its standing committees. On March 4, 2016, the Board appointed Mr. Skala to the Board's Audit Committee, effective immediately.

(c) Yum Brands, Inc. (the “Company”) announced today the appointment of David Russell as its interim Chief Financial Officer effective February 19, 2016. Mr. Russell will serve as interim Chief Financial Officer until a successor is named. The Company is in the process of conducting an internal and external search for Chief Financial Officer and will name that successor at the completion of the search. Mr. Russell will replace Patrick Grismer, who, as previously disclosed, is resigning as the Company’s Chief Financial Officer on February 19, 2016. Mr. Russell will act as the Company’s principal financial officer and principal accounting officer. Mr. Russell, 46, currently serves as Vice President, Finance and Corporate Controller of the Company.

(d) Appointment of New Director On January 28, 2016, the Board of Directors of Yum Brands, Inc. (the “Company”) appointed Justin Skala as a director. The appointment is effective immediately and he will stand for election to the Board by shareholders at the Company’s next Annual Meeting. As of this filing, Mr. Skala has not been appointed to a committee of the Board. Consistent with the Company's standard compensation arrangements for non-employee directors, which are described in the Company's most recent proxy statement, Mr. Skala will receive a one-time stock grant with a fair market value of $25,000 on February 5, 2016 and a prorated portion of his annual stock retainer and stock appreciation rights grant. There is no arrangement or understanding between Mr. Skala or any other person pursuant to which he was selected as a director.

On January 5, 2016 YUM! Brands, Inc. (“Yum” or the “Company”) announced that David C. Novak, 63, plans to retire as the Company’s Executive Chairman of the Board of Directors (the “Board”) effective at the Company’s May 20, 2016 Annual Meeting of Shareholders, and to step down from the Company’s Board at that time. The Board plans to appoint a Non-Executive Chairman from among its members and will announce that appointment at the Company’s annual shareholder meeting. Yum issued a press release on January 5, 2016 announcing Mr. Novak’s impending retirement. The full text of the release is attached as Exhibit 99.1 to this Current Report on Form 8-K.