Yum China (YUMC) Pizza Hut GM exercises RSUs and reports share sale

Rhea-AI Filing Summary

Yum China Holdings officer Jeff Kuai, General Manager of Pizza Hut, reported several equity transactions. On 02/08/2026, 4,536 restricted stock units converted into the same number of common shares at $0 per share, and 2,042 common shares were disposed of at $57.95 per share. After these moves, he directly held 63,065 common shares.

Separately, on 02/06/2026, Kuai received a new award of 11,648 restricted stock units that vest in thirds each year beginning one year from 02/06/2026. Following these derivative transactions, he directly held 4,671 restricted stock units.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kuai Jeff

(Last) (First) (Middle)

YUM CHINA BUILDING

20 TIAN YAO QIAO ROAD

(Street)

SHANGHAI F4 200030

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Yum China Holdings, Inc. [ YUMC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	General Manager, Pizza Hut

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

4. If Amendment, Date of 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

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
Common Stock	02/08/2026		M		4,536	A	$0(1)	65,107	D
Common Stock	02/08/2026		F		2,042	D	$57.95	63,065	D

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 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: 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 Unit	(1)	02/08/2026		M			4,536	(2)	(3)	Common Stock	4,536	$0	4,671	D
Restricted Stock Unit	(1)	02/06/2026		A		11,648		(4)	(3)	Common Stock	11,648	$0	11,648	D

Explanation of Responses:

1. Conversion occurs on a one-for-one basis.

2. Vesting occurs 1/3 per year beginning one year from 2/8/2024.

3. This grant does not have an expiration date.

4. Vesting occurs 1/3 per year beginning one year from 2/6/2026.

	/s/ Pingping Liu, Power of Attorney	02/10/2026
	** 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 Number.

FAQ

What insider transactions did Jeff Kuai report at Yum China (YUMC)?

Jeff Kuai reported converting 4,536 restricted stock units into common stock and disposing of 2,042 common shares at $57.95 per share. He also received 11,648 new restricted stock units that vest over time, increasing his equity-based compensation exposure.

How many Yum China (YUMC) shares does Jeff Kuai own after these transactions?

After the reported transactions, Jeff Kuai directly holds 63,065 shares of Yum China common stock and 4,671 restricted stock units. These positions reflect both the conversion of earlier awards and the impact of a new restricted stock unit grant awarded in February 2026.

What restricted stock unit grants did Jeff Kuai receive from Yum China (YUMC)?

On 02/06/2026, Jeff Kuai received 11,648 restricted stock units from Yum China. These units vest in equal one-third installments each year, beginning one year from 02/06/2026, aligning a portion of his compensation with the company’s long-term share performance.

When do Jeff Kuai’s Yum China (YUMC) restricted stock units vest?

One restricted stock unit grant vests one-third per year beginning one year from 02/08/2024, and another vests one-third per year beginning one year from 02/06/2026. This staggered schedule spreads Kuai’s equity vesting over multiple future years.

At what prices were Jeff Kuai’s Yum China (YUMC) transactions reported?

The conversion of 4,536 restricted stock units into common stock was reported at $0 per share. A separate disposition of 2,042 common shares was reported at $57.95 per share, reflecting the value used for that specific share transaction on 02/08/2026.