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: Russell David Eric (Vice President, Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-04-01	Common Stock	M	4554	$1868.00	Acquired	4554	Direct
2012-04-01	Common Stock	F	1868	$71.18	Disposed	2686	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-04-01	Phantom Stock	$	M	4554	Disposed		Common Stock (4554)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	905.3675	Indirect

Footnotes

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

F2: Phantom Exercise Date

F3: The Program does not have specified expiration dates.