YUM BRANDS INC — Director's Dealing 2012

Dec 31, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2012-12-28

Reporting Person: su Jingshyh S (Director, Chair & CEO - China Division)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-28	Common Stock	M	49475	$12.1625	Acquired	122746	Direct
2012-12-28	Common Stock	S	49475	$65.06	Disposed	73271	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-12-28	Employee Stock Option (Right to Buy)	$12.1625	M	49475	Disposed	2013-01-23	Common Stock (49475)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	278361	Indirect

Footnotes

F1: Pursuant to 10b5-1 Plan

F2: This transaction was executed in multiple trades at prices ranging from $64.96 to $65.09. The price reported above reflects the average price. The reporting person hereby undertakes to provide upon request, to the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.