Pizza Hut 2011 Annual Report Download - page 19

16MAR201218542623
YUM! BRANDS, INC.
1441 Gardiner Lane
Louisville, Kentucky 40213
PROXY STATEMENT
For Annual Meeting of Shareholders To Be Held On
May 17, 2012
The Board of Directors (the ‘‘Board of Directors’’ or the ‘‘Board’’) of YUM! Brands, Inc., a North
Carolina corporation (‘‘YUM’’ or the ‘‘Company’’), solicits the enclosed proxy for use at the Annual
Meeting of Shareholders of the Company to be held at 9:00 a.m. (Eastern Daylight Saving Time), on
Thursday, May 17, 2012, in the YUM! Conference Center, at 1900 Colonel Sanders Lane, Louisville,
Kentucky. This proxy statement contains information about the matters to be voted on at the Annual
Meeting and the voting process, as well as information about our directors and most highly paid executive
officers.
QUESTIONS AND ANSWERS ABOUT THE MEETING AND VOTING
What is the purpose of the Annual Meeting?
At our Annual Meeting, shareholders will vote on several important Company matters. In addition,
our management will report on the Company’s performance over the last fiscal year and, following the
meeting, respond to questions from shareholders.
Why am I receiving these materials?
You received these materials because our Board of Directors is soliciting your proxy to vote your
shares at the Annual Meeting. As a shareholder, you are invited to attend the Annual Meeting and are
Proxy Statement
entitled to vote on the items of business described in this proxy statement.
Why did I receive a one-page Notice in the mail regarding the Internet availability of proxy materials this year
instead of a full set of proxy materials?
As permitted by Securities and Exchange Commission rules, we are making this proxy statement and
our Annual Report available to our shareholders electronically via the Internet. On April 6, 2012, we
mailed to our shareholders a Notice containing instructions on how to access this proxy statement and our
Annual Report and vote online. If you received a Notice by mail you will not receive a printed copy of the
proxy materials in the mail, unless you request a copy. The Notice instructs you on how to access and
review all of the important information contained in the proxy statement and Annual Report. The Notice
also instructs you on how you may submit your proxy over the Internet. If you received a Notice by mail
and would like to receive a printed copy of our proxy materials, you should follow the instructions for
requesting such materials contained on the Notice.
We encourage you to take advantage of the availability of the proxy materials on the Internet in order
to help lower the cost and reduce the environmental impact of the Annual Meeting.
Who may attend the Annual Meeting?
The Annual Meeting is open to all shareholders of record as of close of business on March 19, 2012,
or their duly appointed proxies. Seating is limited and admission is on a first-come, first-served basis.
1