YUM BRANDS INC — Director's Dealing 2012

Feb 9, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2012-02-08

Reporting Person: Russell David Eric (Vice President, Controller)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-08	Phantom Stock	$	A	3881.5177	Acquired		Common Stock (3881.5177)	Direct
2012-02-08	Stock Appreciation Right	$64.44	A	11586	Acquired	2021-02-08	Common Stock (11586)	Direct

Footnotes

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

F2: Payments are made in accordance with elections on file.

F3: The Program does not have specified expiration dates.

F4: Vesting occurs on a quarterly basis beginning one year from grant date.