Yum! Brands Inc. filed SEC Form 8-K: Leadership Update, Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits
$YUM
Restaurants
Consumer Discretionary
| 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)
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||
As disclosed below, on May 15, 2025, the shareholders of YUM! Brands, Inc. (the “Company”) approved the adoption of the YUM! Brands, Inc. 2025 Long Term Incentive Plan (the “LTIP”) at the Company’s annual meeting of shareholders. The terms of the LTIP are set forth in the proxy statement, dated April 4, 2025, for the annual meeting of shareholders, which was filed with the Securities and Exchange Commission on April 4, 2025. The description of the LTIP in the section of the proxy statement titled “Proposal to Approve the Company’s 2025 Long Term Incentive Plan” is incorporated herein by reference.
| Item 5.07 | Submission of Matters to a Vote of Security Holders. | ||||
The following is a brief description of each matter voted upon at YUM! Brands, Inc. (the “Company”) Annual Meeting of Shareholders held on May 15, 2025, as well as the number of votes cast for or against each matter and the number of abstentions and broker non-votes with respect to each matter.
1.The election of the following directors, who will serve until their respective successors are elected and qualified or until their earlier death or resignation:
| Director | For | Against | Abstain | Broker non-votes | |||||||||||||||||||||||||
| Paget L. Alves | 217,867,209 | 2,955,193 | 255,601 | 25,435,310 | |||||||||||||||||||||||||
| Keith Barr | 219,054,536 | 1,779,526 | 243,941 | 25,435,310 | |||||||||||||||||||||||||
| M. Brett Biggs | 220,065,585 | 764,903 | 247,515 | 25,435,310 | |||||||||||||||||||||||||
| Christopher M. Connor | 214,792,763 | 6,043,651 | 241,589 | 25,435,310 | |||||||||||||||||||||||||
| Brian C. Cornell | 183,916,404 | 36,928,355 | 233,244 | 25,435,310 | |||||||||||||||||||||||||
| Tanya L. Domier | 220,446,543 | 420,838 | 210,622 | 25,435,310 | |||||||||||||||||||||||||
| Susan Doniz | 219,273,712 | 1,586,849 | 217,442 | 25,435,310 | |||||||||||||||||||||||||
| David W. Gibbs | 219,992,746 | 846,480 | 238,777 | 25,435,310 | |||||||||||||||||||||||||
| Mirian M. Graddick-Weir | 210,305,634 | 10,549,104 | 223,265 | 25,435,310 | |||||||||||||||||||||||||
| Thomas C. Nelson | 210,545,334 | 10,288,634 | 244,035 | 25,435,310 | |||||||||||||||||||||||||
| P. Justin Skala | 219,506,714 | 1,327,845 | 243,444 | 25,435,310 | |||||||||||||||||||||||||
| Annie Young-Scrivner | 220,428,185 | 432,126 | 217,692 | 25,435,310 | |||||||||||||||||||||||||
2.The proposal to ratify the appointment of KPMG LLP as the Company's independent auditor for 2025 was approved based upon the following votes:
| Votes for approval | 231,162,848 | |||||||
| Votes against | 15,017,365 | |||||||
| Abstentions | 333,100 | |||||||
| There were no broker non-votes for this item. | ||||||||
3.The proposal to approve, by non-binding advisory vote, the executive compensation of the Company's named executive officers was approved based upon the following votes:
| Votes for approval | 199,751,600 | |||||||
| Votes against | 19,238,724 | |||||||
| Abstentions | 2,087,679 | |||||||
| Broker non-votes | 25,435,310 | |||||||
4.The proposal to approve the Company’s 2025 Long Term Incentive Plan was approved based on the following votes:
| Votes for approval | 212,761,346 | |||||||
| Votes against | 7,788,853 | |||||||
| Abstentions | 527,804 | |||||||
| Broker non-votes | 25,435,310 | |||||||
5.The shareholder proposal regarding adoption of a policy on the use of antimicrobials in food-producing animals was not approved based upon the following votes:
| Votes for approval | 27,219,468 | |||||||
| Votes against | 190,061,134 | |||||||
| Abstentions | 3,797,401 | |||||||
| Broker non-votes | 25,435,310 | |||||||
6.The shareholder proposal regarding the commission of a report on faith-based employee resource groups was not approved based upon the following votes:
| Votes for approval | 2,128,464 | |||||||
| Votes against | 215,825,753 | |||||||
| Abstentions | 3,123,786 | |||||||
| Broker non-votes | 25,435,310 | |||||||
7.The shareholder proposal regarding workplace safety policies and practices was not approved based upon the following votes:
| Votes for approval | 41,222,226 | |||||||
| Votes against | 176,584,124 | |||||||
| Abstentions | 3,271,653 | |||||||
| Broker non-votes | 25,435,310 | |||||||
| Item 9.01 | Financial Statements and Exhibits | ||||
(d) Exhibits
| 10.1 | |||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| YUM! BRANDS, INC. | ||||||||||||||
| (Registrant) | ||||||||||||||
| Date: | May 20, 2025 | /s/ Larry Derenge | ||||||||||||
| Vice President and Associate General Counsel | ||||||||||||||