YUM BRANDS INC — Director's Dealing 2013

Dec 16, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2013-12-13

Reporting Person: su Jingshyh S (Director, Chair & CEO - China Division)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-12-13	Common Stock	M	29574	$17.23	Acquired	120442	Direct
2013-12-13	Common Stock	M	58040	$17.23	Acquired	178482	Direct
2013-12-13	Common Stock	S	87614	$71.93	Disposed	90868	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-12-13	Employee Stock Option (Right to Buy)	$17.23	M	29574	Disposed	2014-01-27	Common Stock (29574)	Direct
2013-12-13	Employee Stock Option (Right to Buy)	$17.23	M	58040	Disposed	2014-01-27	Common Stock (58040)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	278361	Indirect

Footnotes

F1: Pursuant to 10b5-1 Plan

F2: This transaction was executed in multiple trades at prices ranging from $71.67 to $72.37. 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 at prices at which the transaction was effected