YUM BRANDS INC — Director's Dealing 2016

Jan 12, 2016

SEC Form 3 — Initial Statement of Beneficial Ownership

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

Reporting Person: Skeans Tracy L (Chief People Officer)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4493.1722	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock	$		Common Stock (1147.1356)		Direct
Phantom Stock	$		Common Stock (1694.9324)		Direct
Phantom Stock	$		Common Stock (1394.9006)		Direct
Phantom Stock	$		Common Stock (464.9669)		Direct
Stock Appreciation Right	$29.29	2019-02-05	Common Stock (846)		Direct
Stock Appreciation Right	$32.98	2020-02-05	Common Stock (1650)		Direct
Stock Appreciation Right	$32.98	2020-02-05	Common Stock (6152)		Direct
Stock Appreciation Right	$38.02	2018-09-10	Common Stock (1036)		Direct
Stock Appreciation Right	$49.30	2021-02-04	Common Stock (2750)		Direct
Stock Appreciation Right	$49.30	2021-02-04	Common Stock (4074)		Direct
Stock Appreciation Right	$62.93	2023-02-06	Common Stock (11442)		Direct
Stock Appreciation Right	$64.44	2022-02-08	Common Stock (9186)		Direct
Stock Appreciation Right	$70.54	2024-02-05	Common Stock (11691)		Direct
Stock Appreciation Right	$70.54	2024-02-05	Common Stock (13754)		Direct
Stock Appreciation Right	$73.93	2025-02-06	Common Stock (17119)		Direct

Footnotes

F1: Payments are made in accordance with elections on file.

F2: The YUM! Brands, Inc. Executive Income Deferral Program does not have specified expiration dates.

F3: Conversion occurs on a one-for-one basis.

F4: Vesting occurs 25% per year beginning one year from grant date.