FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

NOVAK DAVID C 		2. Issuer Name and Ticker or Trading Symbol

YUM BRANDS INC [ YUM ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Executive Chairman
(Last)          (First)          (Middle)

1441 GARDINER LANE 		3. Date of Earliest Transaction (MM/DD/YYYY)

2/5/2016
(Street)

LOUISVILLE, KY 40213
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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
Restricted Stock Units   $0   5/1/2015     J     V 941.32         (1)   (1) Common Stock   941.32   $0   211933.67   D    
Restricted Stock Units   $0   8/7/2015     J     V 991.81         (1)   (1) Common Stock   991.81   $0   212925.48   D    
Restricted Stock Units   $0   11/6/2015     J     V 1374.87         (1)   (1) Common Stock   1374.87   $0   214300.35   D    
Stock Appreciation Right   $69.76   2/5/2016     A      157895         (2) 2/5/2026   Common Stock   157895   $0   157895   D    
Phantom Stock     (3) 2/5/2016     A      7597.4771         (4)   (5) Common Stock   7597.4771   $0   7597.4771   D    
Restricted Stock Units   $0   2/5/2016     J     V 1413.1         (1)   (1) Common Stock   1413.1   $0   215713.45   D    

Explanation of Responses:
( 1)  The restricted stock units vest four years from grant date. Vested shares will be delivered to the reporting person six months from his retirement from YUM! Brands, Inc.
( 2)  Vesting occurs 25% per year beginning one year from grant date.
( 3)  Conversion occurs on a one-for-one basis.
( 4)  Payments are made in accordance with elections on file.
( 5)  The Program does not have specified expiration dates.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
NOVAK DAVID C
1441 GARDINER LANE
LOUISVILLE, KY 40213 		X
Executive Chairman

Signatures
/s/ M. Gayle Hobson, POA 2/9/2016
** 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 4(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 control number.
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