YUM BRANDS INC — Director's Dealing 2012

Feb 7, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2012-02-06

Reporting Person: Russell David Eric (Vice President, Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-06	Common Stock	M	186.6785	$63.84	Acquired	186.6785	Direct
2012-02-06	Common Stock	F	186.6785	$63.84	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-06	Phantom Stock	$	M	186.6785	Disposed		Common Stock (186.6785)	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.