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YUM BRANDS INC Director's Dealing 2012

Apr 3, 2012

30069_dirs_2012-04-03_a5c66a4b-fd33-4076-a321-1ae1b47b7919.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2012-04-01

Reporting Person: Creed Greg (CEO - Taco Bell)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2012-04-01 Common Stock M 1004 $71.18 Acquired 26202 Direct
2012-04-01 Common Stock F 455 $71.18 Disposed 25747 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2012-04-01 Phantom Stock $ M 1004 Disposed Common Stock (1004) 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.