Paget Alves
Director at YUM
Board
About Paget L. Alves
Independent director at YUM since 2016; current Audit Committee Chair and designated audit committee financial expert. Background spans senior operating and sales leadership in telecom and CEO experience; education includes B.S. in Industrial & Labor Relations and J.D. from Cornell University. Age not disclosed in the proxy; tenure at YUM is 9 years as of the 2025 meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Sprint Corporation | Chief Sales Officer | Jan 2012–Sep 2013 | Led enterprise sales across wireless/wireline |
| Sprint Corporation | President, Business Markets Group | 2009–2012 | P&L leadership; B2B growth |
| PointOne Telecommunications Inc. | President & CEO | Prior to 2003 | CEO experience; telecom operations |
| Centennial Communications | President & COO | 2002–2003 | Regional telecom operations leadership |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Sorenson Communications, LLC | Chairman & CEO | Current | Global language services; private |
| Synchrony Financial | Director | Since 2015 | Audit Committee and Nominating & Corporate Governance Committee member |
| Assurant, Inc. | Former Director | Prior | Prior public board experience |
| International Game Technology PLC | Former Director | Prior | Prior public board experience |
Board Governance
- Committee assignments: Audit Committee Chair at YUM; the Audit Committee met 8 times in 2024 . The Board met 5 times in 2024; all directors attended at least 75% of meetings, and all directors attended the 2024 annual meeting .
- Independence: Affirmed independent under NYSE rules; only the CEO is non-independent .
- Financial expertise: Board determined the Audit Chair (Alves) is qualified as an audit committee financial expert and has accounting/financial management expertise; all Audit members are financially literate and independent .
- Engagement: Shareholder accounting concerns can be directed to the Audit Committee Chair (Alves) via corporate address; a Speak Up helpline is available for confidential reporting .
- Governance safeguards: Executive sessions at every regular Board and committee meeting; majority voting policy; no hedging or pledging of company stock .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual stock retainer (non-employee directors) | $280,000 | Directors may request up to one-half in cash; deferrals permitted into phantom company stock units . |
| Audit Committee Chair retainer | $30,000 | Paid in stock; chair retainers set for 2024 . |
| Chairperson of the Board additional stock retainer | $170,000 | Not applicable to Alves; for non-executive chair . |
| Matching gifts eligibility | Up to $10,000/year | Charitable match via YUM! Brands Foundation . |
2024 Director compensation (Paget L. Alves):
| Name | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Option/SAR Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|
| Paget L. Alves | — | 310,000 | — | — | 310,000 |
Benchmarking note: A November 2024 review found total director compensation ~$10,000 below market median; audit chair retainer consistent with market; no changes recommended .
Performance Compensation
| Item | Applies to Non-Employee Directors | Details |
|---|---|---|
| Performance-based cash bonus | No | Not part of director compensation . |
| Performance share awards (PSUs) | No | Director grants are annual stock retainers; Alves had no SARs outstanding at 12/31/2024 . |
| Clawback/recoupment | Yes | Company compensation recovery policies and plan-level recoupment can apply to equity awards . |
Other Directorships & Interlocks
| Company | Relationship to YUM | Potential conflict assessment |
|---|---|---|
| Synchrony Financial | Independent director; Audit and Nominating member | No related-party transactions with Alves disclosed in proxy; related-party review policy covers transactions >$100,000 with related persons . |
| Sorenson Communications (private) | Chairman & CEO | No YUM-related transactions disclosed; related-party oversight by Nominating & Governance Committee . |
No red-flag interlocks or related-party transactions involving Alves are disclosed; the proxy’s only noted company relationship pertains to Target and the non-executive chair, assessed as immaterial by the Board .
Expertise & Qualifications
- Operating, finance and management experience; global sales leadership; public company board and committee experience, per YUM director biography .
- Audit committee financial expert designation and financial literacy; independent Audit Committee with sole authority over auditors, oversight of internal audit, risk, cybersecurity, and compliance .
Equity Ownership
| Metric | Amount |
|---|---|
| Shares owned outright | — |
| Options/SARs exercisable within 60 days | — |
| Deferral plan stock units payable within 60 days | — |
| Total beneficial ownership (SEC definition) | — |
| Additional underlying stock units (deferred, payable post-service) | 15,535 |
Stock ownership guidelines: Non-management directors are expected to own YUM shares worth ≥5x annual Board retainer, accumulated over first five years and held through Board service; company policy prohibits hedging and pledging of YUM stock .
Governance Assessment
- Strengths: Independent Audit Chair with financial expert status; robust risk/cyber oversight and internal audit reporting lines; frequent executive sessions; majority voting policy; clawback/recoupment; no hedging/pledging policy; active whistleblower channels directed to Audit Chair—supports investor confidence in financial oversight .
- Attendance: Board met 5 times; all directors met ≥75% attendance; Audit met 8 times—indicates high committee engagement .
- Compensation alignment: Director pay primarily equity-based stock retainer; Audit Chair premium modest ($30k); external benchmarking shows pay near median, minimizing pay inflation risk .
- Potential conflicts: No related-party transactions or pledging/hedging involving Alves disclosed; Board process for reviewing related-person transactions and independence affirmed .
- Watch items: Dual role as Sorenson CEO warrants ongoing monitoring for any future transactions with YUM or franchisees; no issues disclosed in proxy .