On April 5, 2024, Yum! Brands, Inc announced that it has received a shareholder proposal from Robert Elliot Friedman Trust, requests that the Board of Directors prepare a strategic review regarding a proposed spin-off of the Company?s KFC, Pizza Hut, and Taco Bell franchises into 3 separate publicly traded companies, and dispose of its Habit Burger chain in a separate, pre-spinoff transaction. In addition, the Company urged the shareholders to vote against the shareholder proposal at its annual general meeting of shareholders scheduled to be held on May 16, 2024.