YUM BRANDS INC — Director's Dealing 2016

Sep 6, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2016-09-02

Reporting Person: Eaton Roger G. (CEO, KFC)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-09-02	Common Stock	M	135318	$29.29	Acquired	245736	Direct
2016-09-02	Common Stock	D	81800	$91.91	Disposed	163936	Direct
2016-09-02	Common Stock	S	53518	$91.72	Disposed	110418	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-09-02	Stock Appreciation Right	$29.29	M	135318	Disposed	2019-02-05	Common Stock (135318)	Direct

Footnotes

F1: Pursuant to 10b5-1 Plan

F2: This transaction was executed in multiple trades at prices ranging from $91.52 to $91.96. 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.