YUM BRANDS INC — Director's Dealing 2012

Feb 10, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2012-02-08

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-08	Common Stock	M	5568	$17.23	Acquired	5568	Direct
2012-02-08	Common Stock	M	6504	$22.53	Acquired	12072	Direct
2012-02-08	Common Stock	S	12072	$653706.00	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-08	Employee Stock Option (Right to Buy)	$17.23	M	5568	Disposed	2014-01-27	Common Stock (5568)	Direct
2012-02-08	Employee Stock Option (Right to Buy)	$22.53	M	6504	Disposed	2015-01-28	Common Stock (6504)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	905.3675	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $65.26 to $65.50. 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.