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YUM BRANDS INC Director's Dealing 2012

Jul 3, 2012

30069_dirs_2012-07-03_0c1a3008-0897-4df6-89bc-849d80554d1d.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2012-07-02

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

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2012-07-02 Common Stock M 2449 $64.42 Acquired 14266 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2012-07-02 Phantom Stock $ M 2449 Disposed Common Stock (2449) Direct

Footnotes

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

F2: Phantom Exercise Date

F3: The YUM! Brands, Inc. Executive Income Deferral Program does not have specified expiration dates.