YUM BRANDS INC — Director's Dealing 2013

Dec 31, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2013-12-31

Reporting Person: Pant Muktesh (CEO YRI)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-12-31	Common Stock	M	12865	$26.5275	Acquired	26008	Direct
2013-12-31	Common Stock	S	12865	$75.4916	Disposed	13143	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-12-31	Employee Stock Option (Right to Buy)	$26.5275	M	12865	Disposed	2015-07-21	Common Stock (12865)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1993.054	Indirect

Footnotes

F1: Pursuant to 10b5-1 Plan

F2: This transaction was executed in multiple trades at prices ranging from $75.00 to $76.39. 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.