YUM BRANDS INC — Director's Dealing 2017

Feb 7, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2016-05-06

Reporting Person: Kesselman Marc L. (Chief Legal Officer and GC)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-05	Common Stock	M	4893.94	$66.23	Acquired	4893.94	Direct
2017-02-05	Common Stock	F	1363	$66.23	Disposed	3530.94	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-06	Restricted Stock Units	$	J	81.45	Acquired		Common Stock (81.45)	Direct
2016-08-05	Restricted Stock Units	$	J	74.31	Acquired		Common Stock (74.31)	Direct
2016-11-01	Restricted Stock Units	$	J	123.56	Acquired		Common Stock (123.56)	Direct
2017-02-03	Restricted Stock Units	$	J	66.2	Acquired		Common Stock (66.2)	Direct
2017-02-05	Restricted Stock Units	$	M	4893.94	Disposed		Common Stock (4893.94)	Direct

Footnotes

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

F2: Vesting occurs 33% per year beginning one year from grant date.

F3: This grant does not have an expiration date.