UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934 (Amendment No.)

 Filed by the Registrant  Filed by a Party other than the Registrant

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	Preliminary Proxy Statement
	CONFIDENTIAL, FOR USE OF THE COMMISSION ONLY (AS PERMITTED BY RULE 14a-6(e)(2))
	Definitive Proxy Statement
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YUM! BRANDS, INC.

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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*** Exercise Your Right to Vote ***

Important Notice Regarding the Availability of Proxy Materials for the

Shareholder Meeting to Be Held on May 19, 2017.

            YUM! BRANDS, INC.

YUM! BRANDS, INC.

1441 GARDINER LANE

LOUISVILLE, KY 40213

Meeting Information
Meeting Type:          Annual Meeting
For holders as of:    March 21, 2017
Date:   May 19, 2017      Time:   9:00 A.M., EDT
Location:	Yum! Conference Center
	1900 Colonel Sanders Lane
	Louisville, Kentucky 40213

You are receiving this Notice because you hold shares in YUM! Brands, Inc. (NYSE: YUM), the world’s largest restaurant company and parent of KFC, Pizza Hut and Taco Bell Restaurants. This year we are making our proxy materials available on the Internet to expedite your receipt of these materials, while also lowering costs and helping reduce our carbon footprint.

This Notice is only intended to be an overview and we encourage you to access the complete information online or by requesting a paper copy (see reverse side for details).

Please note that this is not a ballot and you cannot use this Notice to vote these shares.

See the reverse side of this notice to obtain proxy materials and voting instructions.

	—  Before You Vote  — How to Access the Proxy Materials
	Proxy Materials Available to VIEW or RECEIVE: NOTICE AND PROXY STATEMENT            ANNUAL REPORT How to View Online: Have the information that is printed in the box marked by the arrow (located on the following page) and visit: www.proxyvote.com. How to Request and Receive a PAPER or E-MAIL Copy: If you want to receive a paper or e-mail copy of these documents, you must request one. There is NO charge for requesting a copy. Please choose one of the following methods to make your request: 1) BY INTERNET:       www.proxyvote.com 2) BY TELEPHONE:   1-800-579-1639 3) BY E-MAIL*:           sendmaterial@proxyvote.com *   If requesting materials by e-mail, please send a blank e-mail with the information that is printed in the box marked by the arrow (located on the following page) in the subject line. Requests, instructions and other inquiries sent to this e-mail address will NOT be forwarded to your investment advisor. Please make the request as instructed above on or before May 5, 2017 to facilitate timely delivery.
	—  How To Vote  — Please Choose One of the Following Voting Methods
	Vote In Person:  If you plan to attend the meeting, please bring this Notice or a current broker statement showing YUM Shareownership, and a valid picture ID. At the Meeting, you will need to request a ballot to vote these shares. Vote By Internet:  To vote now by Internet, go to www.proxyvote.com. Have the information that is printed in the box marked by the arrow (located on the following page) available and follow the instructions. Vote By Mail:  You can vote by mail by requesting a paper copy of the materials, which will include a proxy card.

                Voting Items                     

The Board of Directors recommends a vote FOR

Items 1, 2 and 3, One Year on Item 4 and AGAINST

Item 5.

1.  Election of Directors.

 Nominees:

 1a.   Paget L. Alves

 1b.   Michael J. Cavanagh

 1c.   Christopher M. Connor

 1d.   Brian C. Cornell

 1e.   Greg Creed

 1f.   Mirian M. Graddick-Weir

 1g.   Thomas C. Nelson

 1h.   P. Justin Skala

 1i.   Elane B. Stock

 1j.   Robert D. Walter

2.  Ratification of Independent Auditors.

3.  Advisory Vote on Executive Compensation.

4.  Advisory Vote on the Frequency of Votes on

 Executive Compensation.

5.  Shareholder Proposal Regarding Adoption of a

 Policy to Reduce Deforestation.