YUM BRANDS INC — Director's Dealing 2017

Nov 9, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2017-11-08

Reporting Person: Gibbs David W (President, CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-11-08	Common Stock	M	6425	$26.56	Acquired	39396	Direct
2017-11-08	Common Stock	D	2107	$81.01	Disposed	37289	Direct
2017-11-08	Common Stock	S	4318	$80.56	Disposed	32971	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-11-08	Stock Appreciation Right	$26.56	M	6425	Disposed	2018-01-24	Common Stock (6425)	Direct

Footnotes

F1: Pursuant to 10b5-1 Plan

F2: Vesting occurs on a quarterly basis beginning one year from grant date.