Tracy L Skeans Form 4 YUM BRANDS / Tracy L Skeans ownership change

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Skeans Tracy L

(Last) (First) (Middle)

1441 GARDINER LANE

(Street)

LOUISVILLE KY 40213

(City) (State) (Zip)

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

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
COO and CPO

3. Date of Earliest Transaction (Month/Day/Year)
07/30/2021

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/30/2021		M		10,134(1)	A	$49.66	20,729	D
Common Stock	07/30/2021		D		3,862(1)	D	$130.31	16,867	D
Common Stock	07/30/2021		S		6,272(1)	D	$129.19	10,595	D
Common Stock	07/30/2021		M		5,065(1)	A	$49.66	15,660	D
Common Stock	07/30/2021		D		1,931(1)	D	$130.31	13,729	D
Common Stock	07/30/2021		S		3,134(1)	D	$129.19	10,595	D
Common Stock	07/30/2021		M		15,218(1)	A	$49.66	25,813	D
Common Stock	07/30/2021		D		5,800(1)	D	$130.31	20,013	D
Common Stock	07/30/2021		S		9,418(1)	D	$130.22	10,595	D
Common Stock								2,103	I	401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Appreciation Right	$49.66	07/30/2021		M			10,134(1)	(2)	02/05/2026	Common Stock	10,134	$0	28,770	D
Stock Appreciation Right	$49.66	07/30/2021		M			5,065(1)	(2)	02/05/2026	Common Stock	5,065	$0	23,705	D
Stock Appreciation Right	$49.66	07/30/2021		M			15,218(1)	(2)	02/05/2026	Common Stock	15,218	$0	8,487	D

Explanation of Responses:

1. Pursuant to 10b5-1 Plan

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

	/s/ M. Gayle Hobson, POA	08/02/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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