YUM BRANDS INC — Director's Dealing 2017

Aug 11, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2017-08-09

Reporting Person: Gibbs David W (President, CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-08-09	Common Stock	M	6693	$26.56	Acquired	39664	Direct
2017-08-09	Common Stock	D	2409	$73.82	Disposed	37255	Direct
2017-08-09	Common Stock	S	4284	$74.0841	Disposed	32971	Direct
2017-08-09	Common Stock	M	6044	$24.32	Acquired	39015	Direct
2017-08-09	Common Stock	D	1992	$73.82	Disposed	37023	Direct
2017-08-09	Common Stock	S	4052	$73.9129	Disposed	32971	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-08-09	Stock Appreciation Right	$26.56	M	6693	Disposed	2018-01-24	Common Stock (6693)	Direct
2017-08-09	Stock Appreciation Right	$24.32	M	6044	Disposed	2017-09-20	Common Stock (6044)	Direct

Footnotes

F1: Pursuant to 10b5-1 Plan

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