Yum Brands Inc 8-K, filed May 24, 2023
Yum Brands Inc (YUM)
8-K
2023-05-24
For: 2023-05-18
View Original
Added on
April 11, 2026
About this 8-K
Yum Brands Inc filed this 8-K on May 24, 2023, reporting on events of May 18, 2023.
Items reported
- Item 5.07: Shareholder vote results
| 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)
________________________
(Exact name of registrant as specified in its charter)
Commission file number 1-13163
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| 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 18, 2023, 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 | 208,191,299 | 3,221,531 | 351,058 | 28,262,539 | ||||||||||||||||||||||
| Keith Barr | 208,889,754 | 2,543,508 | 330,626 | 28,262,539 | ||||||||||||||||||||||
| Christopher M. Connor | 204,963,425 | 6,451,295 | 349,168 | 28,262,539 | ||||||||||||||||||||||
| Brian C. Cornell | 198,757,041 | 12,681,991 | 324,856 | 28,262,539 | ||||||||||||||||||||||
| Tanya L. Domier | 209,095,262 | 2,363,372 | 305,254 | 28,262,539 | ||||||||||||||||||||||
| David W. Gibbs | 209,147,083 | 2,102,645 | 514,160 | 28,262,539 | ||||||||||||||||||||||
| Mirian M. Graddick-Weir | 186,774,697 | 24,621,508 | 367,683 | 28,262,539 | ||||||||||||||||||||||
| Thomas C. Nelson | 202,849,228 | 8,583,525 | 331,135 | 28,262,539 | ||||||||||||||||||||||
| P. Justin Skala | 209,016,102 | 2,407,904 | 339,882 | 28,262,539 | ||||||||||||||||||||||
| Annie Young-Scrivner | 209,057,893 | 2,397,479 | 308,516 | 28,262,539 | ||||||||||||||||||||||
2.The proposal to ratify the appointment of KPMG LLP as the Company's independent auditor for 2023 was approved based upon the following votes:
| Votes for approval | 230,968,595 | |||||||
| Votes against | 8,668,165 | |||||||
| Abstentions | 389,667 | |||||||
| 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 | 184,470,528 | |||||||
| Votes against | 25,271,984 | |||||||
| Abstentions | 2,021,376 | |||||||
| Broker non-votes | 28,262,539 | |||||||
4.Consistent with the recommendation of the Board of Directors of the Company as set forth in the Company’s proxy statement for its 2023 annual meeting and the vote of the shareholders at the Company’s 2023 annual meeting, the Company has adopted a policy to include an advisory shareholder vote on the compensation of executives in its proxy materials every year. This policy will remain in effect until the next shareholder vote on the frequency of shareholder votes on the compensation of executives. The proposal to hold non-binding advisory votes on executive compensation every year was approved, it having received the greatest number of votes cast for one of the three options based upon the following votes:
| One year | 208,467,822 | |||||||
| Two years | 363,145 | |||||||
| Three years | 2,455,185 | |||||||
| Abstentions | 477,736 | |||||||
| There were no broker non-votes for this item. | ||||||||
5.The shareholder proposal regarding issuance of a report on efforts to reduce plastics use was not approved based upon the following votes:
| Votes for approval | 77,184,024 | |||||||
| Votes against | 132,157,592 | |||||||
| Abstentions | 2,422,272 | |||||||
| Broker non-votes | 28,262,539 | |||||||
6.The shareholder proposal regarding issuance of an annual report on lobbying was not approved based upon the following votes:
| Votes for approval | 87,724,549 | |||||||
| Votes against | 121,680,687 | |||||||
| Abstentions | 2,358,652 | |||||||
| Broker non-votes | 28,262,539 | |||||||
7.The shareholder proposal regarding issuance of a civil rights and nondiscrimination audit report was not voted on because it was not properly presented at the meeting, as neither the shareholder proponent nor their designee was in attendance.
8.The shareholder proposal regarding disclosure of share retention policies for named executive officers through normal retirement age was withdrawn by the proponent and consequently not presented at the annual meeting.
9.The shareholder proposal regarding issuance of a report on paid sick leave was not approved based upon the following votes:
| Votes for approval | 42,870,349 | |||||||
| Votes against | 166,289,559 | |||||||
| Abstentions | 2,603,980 | |||||||
| Broker non-votes | 28,262,539 | |||||||
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 24, 2023 | /s/ Erika Burkhardt | ||||||||||||
| Vice President and Associate General Counsel | ||||||||||||||