YUM BRANDS INC — Director's Dealing 2016

Mar 2, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2016-03-01

Reporting Person: BLUM JONATHAN DAVID (SVP and Chief Public Affairs)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-03-01	Common Stock	M	10000	$37.30	Acquired	32131	Direct
2016-03-01	Common Stock	D	6606	$75.00	Disposed	25525	Direct
2016-03-01	Common Stock	S	3394	$75.00	Disposed	22131	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-03-01	Stock Appreciation Right	$37.30	M	10000	Disposed	2018-01-24	Common Stock (10000)	Direct

Footnotes

F1: Pursuant to 10b5-1 Plan