YUM BRANDS INC — Director's Dealing 2012

Jan 27, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2012-01-26

Reporting Person: su Jingshyh S (Director, Chair & CEO - China Division)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-06	Restricted Stock Units	$0	J	811.03	Acquired		Common Stock (811.03)	Direct
2011-08-05	Restricted Stock Units	$0	J	861.89	Acquired		Common Stock (861.89)	Direct
2011-11-04	Restricted Stock Units	$0	J	927.59	Acquired		Common Stock (927.59)	Direct
2012-01-26	Phantom Stock	$	A	20771.81	Acquired		Common Stock (20771.81)	Direct

Footnotes

F1: The restricted stock units vest five years from grant date. Vested units will be delivered in shares to the reporting person twelve months following his retirement from YUM! Brands, Inc.

F2: Units acquired pursuant to Rule 16a-11 exemption. The reported holdings include units acquired in unreported dividend reinvestments.

F3: Conversion occurs on a one-for-one basis.

F4: Payments are made in accordance with elections on file.

F5: The Program does not have specified expiration dates.