YUM BRANDS INC — Director's Dealing 2011

Feb 22, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2011-02-17

Reporting Person: LANGONE KENNETH G (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-17	Phantom Stock	$	P	70.9072	Acquired		Common Stock (70.9072)	Direct
2011-02-17	Phantom Stock	$	P	78.6962	Acquired		Common Stock (78.6962)	Direct
2011-02-17	Phantom Stock	$	P	16.6588	Acquired		Common Stock (16.6588)	Direct
2011-02-17	Phantom Stock	$	P	63.8221	Acquired		Common Stock (63.8221)	Direct
2011-02-17	Phantom Stock	$	P	86.1619	Acquired		Common Stock (86.1619)	Direct
2011-02-17	Phantom Stock	$	P	78.0397	Acquired		Common Stock (78.0397)	Direct
2011-02-17	Phantom Stock	$	P	70.3768	Acquired		Common Stock (70.3768)	Direct
2011-02-17	Phantom Stock	$	P	93.5311	Acquired		Common Stock (93.5311)	Direct
2011-02-17	Phantom Stock	$	P	59.8682	Acquired		Common Stock (59.8682)	Direct

Footnotes

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

F2: The phantom stock units are acrued under the YUM! Brands, Inc. Director Deferred Compensation Plan and will be settled in YUM! stock after directorship ceases.

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

F4: Phantom Exercise Date

F5: Payments are made in accordance with elections on file.

F6: The Program does not have specified expiration dates.