Compositions and methods for modulating plant development and for increasing yield in a plant are provided. The compositions include a ZM-ZFP1 sequence. Compositions of the disclosure comprise amino acid sequences and nucleotide sequences selected from SEQ ID NOS: 1 and 2 as well as variants and fragments thereof. Nucleotide sequences encoding the ZM-ZFP1 molecule are provided in DNA constructs for expression in a plant of interest are provided for modulating the level of a ZM-ZFP1 sequence in a plant or a plant part are provided. The methods comprise introducing into a plant or plant part a heterologous polynucleotide comprising a ZM-ZFP1 sequence of the disclosure. The level of the ZM-ZFP1 polypeptide can be increased or decreased. Such method can be used to increase the yield in plants; in one embodiment, the method is used to increase grain yield in cereals.