YUM BRANDS INC — Director's Dealing 2011

Apr 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2011-04-01

Reporting Person: BROLICK EMIL (COO - Yum)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-01	Common Stock	M	8200	$12.1625	Acquired	8204	Direct
2011-04-01	Common Stock	F	3076	$51.38	Disposed	5128	Direct
2011-04-01	Common Stock	M	26038	$51.38	Acquired	31166	Direct
2011-04-01	Common Stock	S	8200	$51.8159	Disposed	22966	Direct
2011-04-01	Common Stock	M	7246	$51.38	Acquired	30212	Direct
2011-04-01	Common Stock	M	4527	$51.38	Acquired	34739	Direct
2011-04-01	Common Stock	F	1922	$51.38	Disposed	32817	Direct
2011-04-01	Common Stock	F	11054	$51.38	Disposed	21763	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-01	Employee Stock Option (Right to Buy)	$12.1625	M	8200	Disposed	2013-01-23	Common Stock (8200)	Direct
2011-04-01	Phantom Stock	$	M	26038	Disposed		Common Stock (26038)	Direct
2011-04-01	Phantom Stock	$	M	7246	Disposed		Common Stock (7246)	Direct
2011-04-01	Phantom Stock	$	M	4527	Disposed		Common Stock (4527)	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: Shares exercised and sold pursuant to SEC 10b5-1 plan.

F2: Conversion occurs on a one-for-one basis.

F3: Phantom Exercise Date

F4: The YUM! Brands, Inc. Executive Income Deferral Program does not have specified expiration dates.

F5: This transaction was executed in multiple trades at prices ranging from $51.74 to $51.85. 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 transaction was effected.