A senior vice president of Yum Brands Inc., which operates fast-food chains including Taco Bell and KFC, exercised options for 18,730 shares of common stock, according to a filing with the Securities and Exchange Commission.
In a Form 4 filed with the SEC Friday, Christian Campbell reported exercising the options on Thursday for $12.20 apiece, then selling all 18,730 shares on the same day for $40.45 to $40.49 apiece.
The transactions were conducted under a prearranged 10b5-1 trading plan, which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material nonpublic information.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Yum Brands is based in Louisville, Ky.
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