YUM BRANDS INC — Director's Dealing 2011

Apr 29, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2011-04-29

Reporting Person: Carucci Richard (Sr VP Fin/CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-29	Common Stock	M	61808	$12.2038	Acquired	81726	Direct
2011-04-29	Common Stock	S	61808	$53.56	Disposed	19918	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-29	Employee Stock Option (Right to Buy)	$12.2038	M	61808	Disposed	2011-12-31	Common Stock (61808)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6000	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $53.55 to $53.56. 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.