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YUM BRANDS INC Director's Dealing 2012

May 2, 2012

30069_dirs_2012-05-02_7da59eb8-8e5a-47ae-a991-c42079bec07b.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: 2012-05-01

Reporting Person: Creed Greg (CEO - Taco Bell)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2012-05-01 Common Stock M 11040 $29.61 Acquired 36787 Direct
2012-05-01 Common Stock D 7527 $73.46 Disposed 29260 Direct
2012-05-01 Common Stock S 3513 $73.46 Disposed 25747 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2012-05-01 Stock Appreciation Right $29.61 M 11040 Disposed 2017-01-19 Common Stock (11040) Direct

Footnotes

F1: Pursuant to 10b5-1 Plan

F2: Pursuant to 10b5-1 plan.