YUM BRANDS INC — Director's Dealing 2011

Jan 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: BROLICK EMIL (President US Brand Building)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-01	Common Stock	M	7246	$49.05	Acquired	7250	Direct
2011-01-01	Common Stock	F	2352	$49.05	Disposed	4898	Direct
2011-01-01	Common Stock	M	4527	$49.05	Acquired	9425	Direct
2011-01-01	Common Stock	F	1470	$49.05	Disposed	7955	Direct
2011-01-01	Common Stock	M	17154	$49.05	Acquired	25109	Direct
2011-01-01	Common Stock	F	7282	$49.05	Disposed	17827	Direct
2011-01-01	Common Stock	M	222	$49.05	Acquired	18049	Direct
2011-01-01	Common Stock	F	95	$49.05	Disposed	17954	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-01	Phantom Stock	$	M	7246	Disposed		Common Stock (7246)	Direct
2011-01-01	Phantom Stock	$	M	4527	Disposed		Common Stock (4527)	Direct
2011-01-01	Phantom Stock	$	M	17154	Disposed		Common Stock (17154)	Direct
2011-01-01	Phantom Stock	$	M	222	Disposed		Common Stock (222)	Direct

Footnotes

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

F2: Phantom Exercise Date

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