YUM BRANDS INC — Director's Dealing 2017

Apr 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2017-04-01

Reporting Person: Skeans Tracy L (Chief People Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-04-01	Common Stock	M	1290	$63.90	Acquired	1290	Direct
2017-04-01	Common Stock	F	517	$63.90	Disposed	773	Direct
2017-04-01	Common Stock	M	455	$63.90	Acquired	1228	Direct
2017-04-01	Common Stock	F	183	$63.90	Disposed	1045	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-04-01	Phantom Stock	$	M	1290	Disposed		Common Stock (1290)	Direct
2017-04-01	Phantom Stock	$	M	455	Disposed		Common Stock (455)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4493.1722	Indirect

Footnotes

F1: Conversion occurs on a one-for-one basis.

F2: Payments are made in accordance with elections on file.

F3: The YUM! Brands, Inc. Executive Income Deferral Program does not have specified expiration dates.