{"filing":{"accession_number":"0001193125-26-272881","cik":"0001041061","ticker":"YUM","company_name":"YUM BRANDS INC","form":"8-K","filing_date":"2026-06-16","report_date":null,"primary_document":"d47355d8k.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/1041061/000119312526272881/d47355d8k.htm"},"events":[{"id":11396,"run_id":10004,"accession_number":"0001193125-26-272881","anchor_item_number":"1.01","event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"summary":"YUM Brands entered into two material definitive agreements on June 16, 2026 to sell its Pizza Hut business: an Equity Purchase Agreement to sell the global Pizza Hut business (excluding PRC) to Toppings TopCo, LLC for $1.488 billion in cash plus up to $75 million in contingent consideration, and a Membership Interest Purchase Agreement to sell its PRC Pizza Hut business to Yum China Holdings for $1.2 billion. These transactions constitute a material disposition of significant business assets totaling approximately $2.7 billion.","company_name":"YUM BRANDS INC","ticker":"YUM","filing_date":"2026-06-16","form":"8-K","submitted_at":null,"items":[{"id":7977,"accession_number":"0001193125-26-272881","item_number":"1.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"YUM Brands entered into two material definitive agreements on June 16, 2026: (1) an Equity Purchase Agreement to sell its global Pizza Hut business (excluding PRC) to Toppings TopCo, LLC for $1.488 billion in cash plus up to $75 million in contingent consideration, and (2) a Membership Interest Purchase Agreement to sell its PRC Pizza Hut business to Yum China Holdings for $1.2 billion. These transactions constitute a material disposition of significant business assets totaling approximately $2.7 billion, clearly meeting the threshold for Item 1.01 (Entry into a Material Definitive Agreement) and representing a major M\u0026A activity.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-16T21:17:09.951536+00:00","company_name":"","ticker":null,"filing_date":""}]},{"id":11397,"run_id":10004,"accession_number":"0001193125-26-272881","anchor_item_number":"8.01","event_type":"other_material","event_domain":"catchall","is_material":true,"confidence":0.65,"summary":"The Board of Directors approved a new $4.0 billion share repurchase authorization, representing a material capital allocation decision affecting shareholder returns.","company_name":"YUM BRANDS INC","ticker":"YUM","filing_date":"2026-06-16","form":"8-K","submitted_at":null,"items":[{"id":7978,"accession_number":"0001193125-26-272881","item_number":"8.01","item_title":null,"event_type":"other_material","event_domain":"catchall","is_material":true,"confidence":0.65,"reasoning":"The disclosure announces a new $4.0 billion share repurchase authorization approved by the Board of Directors, which is a material capital allocation decision affecting shareholder returns. While share repurchase programs are routine corporate actions, the magnitude ($4.0 billion) and the context of capital allocation strategy make this material to investors. However, this does not fit cleanly into the specific event taxonomy—it is neither an earnings release, executive change, M\u0026A activity, nor a financial distress signal. The cautionary statement and forward-looking language are boilerplate and do not indicate a material adverse event.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-16T21:17:09.951536+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":7977,"accession_number":"0001193125-26-272881","item_number":"1.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"YUM Brands entered into two material definitive agreements on June 16, 2026: (1) an Equity Purchase Agreement to sell its global Pizza Hut business (excluding PRC) to Toppings TopCo, LLC for $1.488 billion in cash plus up to $75 million in contingent consideration, and (2) a Membership Interest Purchase Agreement to sell its PRC Pizza Hut business to Yum China Holdings for $1.2 billion. These transactions constitute a material disposition of significant business assets totaling approximately $2.7 billion, clearly meeting the threshold for Item 1.01 (Entry into a Material Definitive Agreement) and representing a major M\u0026A activity.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-16T21:17:09.951536+00:00","company_name":"YUM BRANDS INC","ticker":"YUM","filing_date":"2026-06-16"},{"id":7978,"accession_number":"0001193125-26-272881","item_number":"8.01","item_title":null,"event_type":"other_material","event_domain":"catchall","is_material":true,"confidence":0.65,"reasoning":"The disclosure announces a new $4.0 billion share repurchase authorization approved by the Board of Directors, which is a material capital allocation decision affecting shareholder returns. While share repurchase programs are routine corporate actions, the magnitude ($4.0 billion) and the context of capital allocation strategy make this material to investors. However, this does not fit cleanly into the specific event taxonomy—it is neither an earnings release, executive change, M\u0026A activity, nor a financial distress signal. The cautionary statement and forward-looking language are boilerplate and do not indicate a material adverse event.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-16T21:17:09.951536+00:00","company_name":"YUM BRANDS INC","ticker":"YUM","filing_date":"2026-06-16"}]}