Disclosing lay-off in background check

I’m completing a background check and the form asks whether a previous employer has ever terminated my employment, including as part of layoffs.

For my last role at a BB, they was going through a wider restructuring and did not renew my contract once it reached its agreed end date. There were no performance or misconduct issues.

I don’t think “laid off” is quite accurate since the contract ended normally and wasn’t cut short. But I also don’t want to answer “no” and have it look like I was hiding something.

Has anyone dealt with this before? Would you answer no and state “fixed term contract completed and not renewed”, or answer yes and explain the circumstances?