YUM BRANDS INC - Director's Dealing 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2013-02-06

Reporting Person: BYERLEIN HOLLAN ANNE (Chief People Officer)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-02-01	Common Stock	J	37.55	$65.93	Acquired	7512.13	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-02-06	Stock Appreciation Right	$62.93	A	68193	Acquired	2023-02-06	Common Stock (68193)	Direct
2013-02-06	Phantom Stock	$	A	20872.9275	Acquired		Common Stock (20872.9275)	Direct

Security	Shares	Ownership
Common Stock	1678.996	Indirect

F1: Shares acquired pursuant to Rule 16a-11 exemption. The reported holdings include shares acquired in unreported dividend reinvestments.

F2: Vesting occurs on a quarterly basis beginning one year from grant date.

F3: Conversion occurs on a one-for-one basis.

F4: Payments are made in accordance with elections on file.

F5: The Program does not have specified expiration dates.