YUM BRANDS INC — Director's Dealing 2017

Feb 13, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2017-02-10

Reporting Person: Creed Greg (Director, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-13	Common Stock	M	105653	$26.56	Acquired	145893	Direct
2017-02-13	Common Stock	D	60777	$68.14	Disposed	85116	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-10	Stock Appreciation Right	$68.00	A	235916	Acquired	2027-02-10	Common Stock (235916)	Direct
2017-02-13	Stock Appreciation Right	$26.56	M	105653	Disposed	2018-01-24	Common Stock (105653)	Direct

Footnotes

F1: Vesting occurs 25% per year beginning one year from grant date.