Ownership Submission
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

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
TWOHIG PAUL E
   2. Issuer Name and Ticker or Trading Symbol
DUNKIN' BRANDS GROUP, INC. [DNKN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
COO, Dunkin' Donuts U.S.
(Last)
(First)
(Middle)
C/O DUNKIN' BRANDS GROUP, INC., 130 ROYALL STREET		 3. Date of Earliest Transaction (Month/Day/Year)
08/15/2012
(Street)

CANTON, MA 02021		 4. If Amendment, Date 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
(City)
(State)
(Zip)
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

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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
Option to purchase Common Stock $ 3.02 08/15/2012   A   51,433     (1)(2) 02/23/2020 Common Stock 51,433 $ 0 98,726 D  
Option to purchase Common Stock $ 7.31 08/15/2012   A   9,076     (3)(4) 03/09/2021 Common Stock 9,076 $ 0 20,205 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
TWOHIG PAUL E
C/O DUNKIN' BRANDS GROUP, INC.
130 ROYALL STREET
CANTON, MA 02021		       COO, Dunkin' Donuts U.S.  

Signatures

 /s/ Richard Emmett, as attorney-in-fact for Paul E. Twohig   08/16/2012
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) On 02/23/2010, the reporting person was granted an option to purchase 130,253 shares of Common Stock. The option vests based upon time (five equal annual installments that began on 02/23/2011) and performance (investment returns to investment funds affiliated with Bain Capital Partners, LLC, The Carlyle Group and Thomas H. Lee Partners, L.P. (collectively, the "Sponsors")) criteria.
(2) As a result of the sale of shares by the Sponsors on 08/15/2012, the performance criteria was met with respect to 51,433 shares of common stock subject to this option award, resulting in vesting of the option as to 20,571 shares and an additional 30,862 shares that are eligible to vest in three equal annual installments beginning on 02/23/2013. In total, following this event, the performance criteria has been met with respect to all of the shares of common stock subject to this option award (a portion of which has been exercised prior to the date hereof), with 20,571 of such shares still subject to issuance upon exercise having vested and become exercisable and the remaining 78,155 of such shares eligible to vest in three equal annual installments beginning on 02/23/2013.
(3) On 03/09/2011, the reporting person was granted an option to purchase 22,985 shares of Common Stock. The option vests based upon time (five equal annual installments that began on 03/09/2012) and performance (investment returns to investment funds affiliated with the Sponsors) criteria.
(4) As a result of the sale of shares by the Sponsors on 08/15/2012, the performance criteria was met with respect to 9,076 shares of common stock subject to this option award, resulting in the vesting of the option as to 1,816 shares and an additional 7,260 shares that are eligible to vest in four equal annual installments beginning on 03/09/2013. In total, following this event, the performance criteria has been met with respect to all of the shares of common stock subject to this option award (a portion of which has been exercised prior to the date hereof), with 1,816 of such shares still subject to issuance upon exercise having vested and become exercisable and the remaining 18,389 of such shares eligible to vest in four equal annual installments beginning on 03/09/2013.
 
Remarks:
The following information is provided to clarify the reporting person's holdings of options under his Tranche 4 Grant and Tranche 5 Grant (each as defined below) following the exercises to date of such awards:  As previously reported, on 02/23/2010 the reporting person was granted two classes of options to purchase common stock. The option to purchase 55,823 shares of common stock (the "Tranche 4 Grant") vests based upon time criteria (five equal annual installments that began on 02/23/2011). The option to purchase 130,253 shares of common stock (the "Tranche 5 Grant") vests based upon time (five equal annual installments that began on 02/23/2011) and performance (investment returns to investment funds affiliated with Bain Capital Partners, LLC, The Carlyle Group and Thomas H. Lee Partners, L.P.) criteria. The reporting person's holdings of the Tranche 5 Grant are reported in the first row of Column 9 of Table II of this Form 4 and reflect, in the aggregate, exercises of options to purchase 31,527 shares to date.  The option exercise previously reported in the reporting person's Form 4 filed on February 29, 2012 was an exercise of 22,328 shares of common stock under the Tranche 4 Grant and an exercise of 14,870 shares of common stock under the Tranche 5 Grant (rather than an exercise of 37,198 shares of common stock under the Tranche 5 Grant as was reported in such Form 4).  As of the filing date of this Form 4, the reporting person beneficially owns an option to purchase 33,495 shares of common stock under the Tranche 4 Grant.

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