YUM BRANDS INC — Director's Dealing 2011

Nov 15, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2011-11-15

Reporting Person: su Jingshyh S (Director, Chair & CEO - China Division)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-15	Common Stock	S	96324	$55.0364	Disposed	73271	Direct
2011-11-15	Common Stock	M	96324	$12.2038	Acquired	169595	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-15	Employee Stock Option (Right to Buy)	$12.2038	M	96324	Disposed	2011-12-31	Common Stock (96324)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	278361	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $55.00 to $55.245. 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.

F2: Pursuant to 10b5-1 Plan