SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Grismer Patrick J

(Last)

(First)

(Middle)

1441 GARDINER LANE

(Street)

LOUISVILLE

40213

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/01/2012

3. Issuer Name and Ticker or Trading Symbol
YUM BRANDS INC [ YUM ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Financial Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	6,240	I	401(k) Plan
Common Stock	1,600	I	Family Trust
Common Stock	8,500	I	Individual Retirement Account
Common Stock	1,500	I	Personal Trust

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Phantom Stock	⁽²⁾	⁽³⁾	Common Stock	9,126.6294	⁽¹⁾	D
Employee Stock Option (Right to Buy)	01/28/2006	01/28/2015	Common Stock	10,840	$22.53	D
Employee Stock Option (Right to Buy)	11/18/2006	11/18/2015	Common Stock	20,190	$24.1075	D
Stock Appreciation Right	01/26/2007	01/26/2016	Common Stock	18,856	$24.4675	D
Stock Appreciation Right	02/05/2010	02/05/2019	Common Stock	33,830	$29.29	D
Stock Appreciation Right	01/19/2008	01/19/2017	Common Stock	19,938	$29.61	D
Stock Appreciation Right	02/05/2011	02/05/2020	Common Stock	34,424	$32.98	D
Stock Appreciation Right	02/05/2014	02/05/2020	Common Stock	43,030	$32.98	D
Stock Appreciation Right	05/17/2008	05/17/2017	Common Stock	16,262	$33.2025	D
Stock Appreciation Right	05/21/2013	05/21/2019	Common Stock	15,853	$33.21	D
Stock Appreciation Right	01/24/2009	01/24/2018	Common Stock	20,079	$37.3	D
Stock Appreciation Right	02/04/2012	02/04/2021	Common Stock	24,440	$49.3	D
Stock Appreciation Right	02/08/2013	02/08/2022	Common Stock	33,102	$64.44	D

Explanation of Responses:

1. Conversion occurs on a one-for-one basis.

2. Payments are made in accordance with elections on file.

3. The Program does not have specified expiration dates.

	/s/ M. Gayle Hobson, POA	05/04/2012
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.