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YUM BRANDS INC Director's Dealing 2017

May 8, 2017

30069_dirs_2017-05-08_72fad3bc-27a7-4b1a-8ea4-f3d1ed6d1eff.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2017-05-04

Reporting Person: Niccol Brian R (CEO, Taco Bell)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-04	Common Stock	M	5033	$28.22	Acquired	6712	Direct
2017-05-04	Common Stock	D	3627	$67.98	Disposed	3085	Direct
2017-05-04	Common Stock	S	1406	$68.0571	Disposed	1679	Direct
2017-05-04	Common Stock	M	5033	$28.22	Acquired	6712	Direct
2017-05-04	Common Stock	D	3627	$67.98	Disposed	3085	Direct
2017-05-04	Common Stock	S	1406	$67.99	Disposed	1679	Direct
2017-05-04	Common Stock	M	5033	$28.22	Acquired	6712	Direct
2017-05-04	Common Stock	D	3627	$67.95	Disposed	3085	Direct
2017-05-04	Common Stock	S	1406	$67.99	Disposed	1679	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-04	Stock Appreciation Right	$28.22	M	5033	Disposed	2020-02-05	Common Stock (5033)	Direct
2017-05-04	Stock Appreciation Right	$28.22	M	5033	Disposed	2020-02-05	Common Stock (5033)	Direct
2017-05-04	Stock Appreciation Right	$28.22	M	5033	Disposed	2020-02-05	Common Stock (5033)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4969.49	Indirect

Footnotes

F1: Pursuant to 10b5-1 Plan