YUM BRANDS INC — Director's Dealing 2012

Apr 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-04-01	Common Stock	M	2593	$71.18	Acquired	12621	Direct
2012-04-01	Common Stock	F	804	$71.18	Disposed	11817	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-04-01	Phantom Stock	$	M	2593	Disposed		Common Stock (2593)	Direct

Footnotes

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

F2: The YUM! Brands, Inc. Executive Income Deferral Program does not have specified expiration dates.