YUM BRANDS INC — Director's Dealing 2013

Apr 1, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2013-04-01

Reporting Person: BLUM JONATHAN DAVID (SVP and Chief Public Affairs)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-04-01	Common Stock	M	346	$29.61	Acquired	22477	Direct
2013-04-01	Common Stock	D	244	$71.25	Disposed	22233	Direct
2013-04-01	Common Stock	M	9154	$29.29	Acquired	31387	Direct
2013-04-01	Common Stock	D	6406	$71.25	Disposed	24981	Direct
2013-04-01	Common Stock	S	2850	$71.24	Disposed	22131	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-04-01	Stock Appreciation Right	$29.61	M	346	Disposed	2017-01-19	Common Stock (346)	Direct
2013-04-01	Stock Appreciation Right	$29.29	M	9154	Disposed	2019-02-05	Common Stock (9154)	Direct

Footnotes

F1: Pursuant to 10b5-1 Plan