Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response... 0.5
	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 * Gibbs David W	2. Date of Event Requiring Statement (MM/DD/YYYY) 1/1/2015	3. Issuer Name and Ticker or Trading Symbol YUM BRANDS INC [YUM]
(Last)        (First)        (Middle) 7100 CORPORATE DRIVE	4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                            _____ 10% Owner ___ X ___ Officer (give title below)          _____ Other (specify below) CEO, Pizza Hut /
(Street) PLANO, TX 75024        (City)              (State)              (Zip)	5. 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 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	14336	D

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(1)	(2)	Common Stock	3212.6202	(3)	D
Phantom Stock	(1)	(2)	Common Stock	238.0343	(3)	D
Phantom Stock	(1)	(2)	Common Stock	652.64	(3)	D
Phantom Stock	(1)	(4)	Common Stock	4068.9024	(3)	D
Phantom Stock	(1)	(2)	Common Stock	19068.866	(3)	D
Phantom Stock	(1)	(2)	Common Stock	8972.2899	(3)	D
Stock Appreciation Right	1/26/2007   (4)	1/26/2016	Common Stock	26936	$24.4675	D
Stock Appreciation Right	2/5/2010   (4)	2/5/2019	Common Stock	33830	$29.29	D
Stock Appreciation Right	2/5/2013	2/5/2019	Common Stock	8458	$29.29	D
Stock Appreciation Right	1/19/2008   (4)	1/19/2017	Common Stock	21600	$29.61	D
Stock Appreciation Right	2/5/2011   (4)	2/5/2020	Common Stock	31555	$32.98	D
Stock Appreciation Right	9/20/2011	9/20/2017	Common Stock	18631	$34.155	D
Stock Appreciation Right	1/24/2009   (4)	1/24/2018	Common Stock	26772	$37.30	D
Stock Appreciation Right	5/20/2015	5/20/2020	Common Stock	24493	$39.64	D
Stock Appreciation Right	2/4/2012   (4)	2/4/2021	Common Stock	30550	$49.30	D
Stock Appreciation Right	2/6/2014   (4)	2/6/2023	Common Stock	37885	$62.93	D
Stock Appreciation Right	2/6/2017	2/6/2023	Common Stock	37885	$62.93	D
Stock Appreciation Right	2/8/2013   (4)	2/8/2022	Common Stock	24827	$64.44	D
Stock Appreciation Right	2/5/2015   (4)	2/5/2024	Common Stock	41260	$70.54	D
Stock Appreciation Right	2/5/2019	2/5/2024	Common Stock	34384	$70.54	D

Explanation of Responses:
( 1)	Payments are made in accordance with elections on file.
( 2)	The Program does not have specified expiration dates.
( 3)	Conversion occurs on a one-for-one basis.
( 4)	Vesting occurs on a quarterly basis beginning one year from grant date.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Gibbs David W 7100 CORPORATE DRIVE PLANO, TX 75024			CEO, Pizza Hut

Signatures
/s/ M. Gayle Hobson, POA		1/2/2015
** 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 control number.