YUM BRANDS INC — Director's Dealing 2016

Jul 25, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2016-07-22

Reporting Person: Pant Muktesh (CEO China)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-07-22	Common Stock	M	49844	$29.61	Acquired	62660	Direct
2016-07-22	Common Stock	D	16399	$90.00	Disposed	46261	Direct
2016-07-22	Common Stock	S	33445	$89.94	Disposed	12816	Direct
2016-07-22	Common Stock	M	98682	$37.30	Acquired	111498	Direct
2016-07-22	Common Stock	D	40899	$90.00	Disposed	70599	Direct
2016-07-22	Common Stock	S	57783	$89.9416	Disposed	12816	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-07-22	Stock Appreciation Right	$29.61	M	49844	Disposed	2017-01-19	Common Stock (49844)	Direct
2016-07-22	Stock Appreciation Right	$37.30	M	98682	Disposed	2018-01-24	Common Stock (98682)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1993.054	Indirect

Footnotes

F1: Pursuant to 10b5-1 Plan

F2: This transaction was executed in multiple trades at prices ranging from $89.93 to $90.02. 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 $89.93 to $90.02. 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.