YUM BRANDS INC — Director's Dealing 2013

Dec 10, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2013-12-10

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-12-10	Common Stock	M	20190	$24.1075	Acquired	23455	Direct
2013-12-10	Common Stock	S	20190	$73.342	Disposed	3265	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-12-10	Employee Stock Option (Right to Buy)	$24.1075	M	20190	Disposed	2015-11-18	Common Stock (20190)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	920.1189	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $73.25 to $73.44. 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.