YUM BRANDS INC — Director's Dealing 2018

Dec 18, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2018-12-17

Reporting Person: Gibbs David W (President, CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-12-17	Common Stock	M	8343	$20.85	Acquired	47609	Direct
2018-12-17	Common Stock	D	1897	$91.70	Disposed	45712	Direct
2018-12-17	Common Stock	S	6446	$91.22	Disposed	39266	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-12-17	Stock Appreciation Right	$20.85	M	8343	Disposed	2019-02-05	Common Stock (8343)	Direct

Footnotes

F1: Pursuant to 10b5-1 Plan

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