YUM BRANDS INC — Director's Dealing 2011

May 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2011-05-03

Reporting Person: CAMPBELL CHRISTAIN (SVP GC and CFPO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-03	Common Stock	M	43360	$22.53	Acquired	56648	Direct
2011-05-03	Common Stock	S	43360	$53.60	Disposed	13288	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-03	Employee Stock Option (Right to Buy)	$22.53	M	43360	Disposed	2015-01-28	Common Stock (43360)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $53.49 to $53.735. 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.