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: Eaton Roger G. (President KFC Global and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-04-01	Common Stock	M	28971	$29.61	Acquired	59075	Direct
2016-04-01	Common Stock	D	10397	$82.51	Disposed	48678	Direct
2016-04-01	Common Stock	S	18574	$82.6462	Disposed	30104	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-04-01	Stock Appreciation Right	$29.61	M	28971	Disposed	2017-01-19	Common Stock (28971)	Direct

Footnotes

F1: Pursuant to 10b5-1 Plan

F2: This transaction was executed in multiple trades at prices ranging from $82.50 to $82.77. 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.