YUM BRANDS INC — Director's Dealing 2012

Oct 18, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2012-10-17

Reporting Person: Eaton Roger G. (Chief YUM Operations Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-10-17	Common Stock	M	35990	$22.53	Acquired	50256	Direct
2012-10-17	Common Stock	S	35990	$71.3267	Disposed	14266	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-10-17	Employee Stock Option (Right to Buy)	$22.53	M	35990	Disposed	2015-01-28	Common Stock (35990)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $71.25 to $71.40. 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.