Yum China CEO exercises 28,678 RSUs

Yum China Holdings, Inc. Chief Executive Officer and director Joey Wat reported equity award activity on February 9, 2026.

Rhea-AI Filing Summary

Yum China Holdings, Inc. Chief Executive Officer and director Joey Wat reported equity award activity on February 9, 2026. She exercised 28,678 restricted stock units into common stock on a one-for-one basis at $0 per share.

On the same date, 2,727 shares of common stock were disposed of at $57.5 per share. Following these transactions, Wat directly beneficially owned 504,387 shares of common stock and indirectly held 272,944 shares through a controlled corporation and trust. The underlying restricted stock unit grant vests in thirds annually beginning one year from February 9, 2023 and does not have an expiration date.

Insider Trade Summary

28,678 shares exercised/converted

Exercise 4 txns

Insider Wat Joey

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	28,678	$0.00	$0.00
Exercise	Common Stock	28,678	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	2,727	$57.50	$157K
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock — 504,387 shares (Direct); Common Stock — 272,944 shares (Indirect, Controlled Corporation and Trust)

Footnotes (3)

1. F1. Conversion occurs on a one-for-one basis.
2. F2. Vesting occurs 1/3 per year beginning one year from 2/9/2023.
3. F3. This grant does not have an expiration date.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did YUMC CEO Joey Wat report on February 9, 2026?

Yum China (YUMC) CEO Joey Wat exercised 28,678 restricted stock units into common stock at $0 per share and disposed of 2,727 common shares at $57.5 per share, reflecting routine equity compensation activity and associated share movements.

How many Yum China (YUMC) shares does CEO Joey Wat hold after this Form 4?

After the reported transactions, CEO Joey Wat directly beneficially owned 504,387 shares of Yum China common stock and indirectly held 272,944 additional shares through a controlled corporation and trust, according to the Form 4 filing details.

What does the RSU exercise by YUMC’s CEO on February 9, 2026 involve?

The CEO exercised 28,678 restricted stock units into an equal number of Yum China common shares on a one-for-one basis at $0 per share, reflecting conversion of previously granted equity awards into directly held stock.

What is the vesting schedule of the RSUs reported in this YUMC Form 4?

The restricted stock unit grant vests in three equal annual installments, with vesting of one-third per year starting one year from February 9, 2023, as disclosed in the Form 4 footnotes for Yum China’s CEO award.

Does the Yum China (YUMC) CEO’s RSU grant have an expiration date?

The Form 4 footnotes state that the restricted stock unit grant reported for Yum China’s CEO does not have an expiration date, meaning the award remains outstanding subject to its vesting terms and other plan conditions.

How are indirect Yum China (YUMC) share holdings disclosed for the CEO?

The filing shows 272,944 Yum China common shares beneficially owned indirectly by the CEO through a controlled corporation and trust, with ownership reported as indirect in Table I under the nature of beneficial ownership column.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 02/11/2026 - 06:14 AM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

Wat Joey

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

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	02/09/2026		M		28,678	A	$0(1)	507,114	D
Common Stock	02/09/2026		F		2,727	D	$57.5	504,387	D
Common Stock								272,944	I	Controlled Corporation and Trust

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)	02/09/2026		M			28,678	(2)	(3)	Common Stock	28,678	$0	0	D

Explanation of Responses:

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

2. Vesting occurs 1/3 per year beginning one year from 2/9/2023.

3. This grant does not have an expiration date.

	/s/ Pingping Liu, Power of Attorney	02/11/2026
	** 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.
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