YUM BRANDS INC — Director's Dealing 2016

Apr 4, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2016-04-01

Reporting Person: Skeans Tracy L (Chief People Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-04-01	Common Stock	M	1594	$81.85	Acquired	1594	Direct
2016-04-01	Common Stock	F	399	$81.85	Disposed	1195	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-04-01	Phantom Stock	$	M	1594	Disposed		Common Stock (1594)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4493.1722	Indirect

Footnotes

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

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

F3: The YUM! Brands, Inc. Executive Income Deferral Program does not have specified expiration dates.