YUM BRANDS INC — Director's Dealing 2012

Mar 2, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2012-03-01

Reporting Person: BLUM JONATHAN DAVID (SVP and Chief Public Affairs)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-01	Common Stock	M	9500	$24.4675	Acquired	31631	Direct
2012-03-01	Common Stock	D	6131	$66.10	Disposed	25500	Direct
2012-03-01	Common Stock	S	3369	$66.08	Disposed	22131	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-01	Stock Appreciation Right	$24.4675	M	9500	Disposed	2016-01-26	Common Stock (9500)	Direct

Footnotes

F1: Pursuant to 10b5-1 Plan