YUM BRANDS INC — Director's Dealing 2011

Jul 6, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2011-07-01

Reporting Person: Eaton Roger G. (CEO - KFC)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-07-01	Common Stock	M	3612	$55.24	Acquired	3612	Direct
2011-07-01	Common Stock	M	2448	$55.24	Acquired	6060	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-07-01	Phantom Stock	$	M	3612	Disposed		Common Stock (3612)	Direct
2011-07-01	Phantom Stock	$	M	2448	Disposed		Common Stock (2448)	Direct

Footnotes

F1: Conversion occurs on a one-for-one basis.

F2: Phantom Exercise Date

F3: The YUM! Brands, Inc. Executive Income Deferral Program does not have specified expiration dates.