YUM BRANDS INC — Director's Dealing 2014

Feb 6, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2014-02-05

Reporting Person: Eaton Roger G. (President KFC Global and COO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-05	Stock Appreciation Right	$70.54	A	64985	Acquired	2024-02-05	Common Stock (64985)	Direct
2014-02-05	Phantom Stock	$	A	9594.74	Acquired		Common Stock (9594.74)	Direct

Footnotes

F1: Vesting occurs on a quarterly basis beginning one year from grant date.

F2: Conversion occurs on a one-for-one basis.

F3: Payments are made in accordance with elections on file.

F4: The YUM! Brands, Inc. Executive Income Deferral Program does not have specified expiration dates.