YUM BRANDS INC — Director's Dealing 2016

Oct 4, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2016-10-01

Reporting Person: Creed Greg (Director, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-01	Common Stock	M	104	$90.81	Acquired	38940	Direct
2016-10-01	Common Stock	F	26	$90.81	Disposed	38914	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-10-01	Phantom Stock	$	M	104	Disposed		Common Stock (104)	Direct

Footnotes

F1: Conversion occurs on a one-for-one basis.

F2: Payments are made in accordance with elections on file.

F3: The Program does not have specified expiration dates.