YUM BRANDS INC — Director's Dealing 2015

Jan 26, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2015-01-23

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-23	Common Stock	M	65039	$22.53	Acquired	166779	Direct
2015-01-23	Common Stock	S	65039	$74.4341	Disposed	101740	Direct
2015-01-23	Common Stock	S	25000	$74.4341	Disposed	76740	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-01-23	Employee Stock Option (Right to Buy)	$22.53	M	65039	Disposed	2015-01-28	Common Stock (65039)	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 $74.36 to $74.555. 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.

F3: This transaction was executed in multiple trades at prices ranging from $74.36 to $74.555. 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.