YUM BRANDS INC — Director's Dealing 2011

Feb 8, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2011-02-04

Reporting Person: BROLICK EMIL (COO - Yum)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-04	Common Stock	M	8200	$12.1625	Acquired	26154	Direct
2011-02-04	Common Stock	S	8200	$49.43	Disposed	17954	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-04	Stock Appreciation Right	$49.30	A	61100	Acquired	2021-02-04	Common Stock (61100)	Direct
2011-02-04	Employee Stock Option (Right to Buy)	$12.1625	M	8200	Disposed	2013-01-23	Common Stock (8200)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$12.1625	2013-01-23	Common Stock (164916)	164916	Direct

Footnotes

F1: Pursuant to 10b5-1 Plan

F2: This transaction was executed in multiple trades ranging from $49.32 to $49.53. The price reported above reflects the average price. The reporting person hereby undertakes to provide, upon request, to the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transation was effected.