Yum China (NYSE: YUMC) CEO Joey Wat awarded 86,282 RSUs and converts 43,198 into shares

Rhea-AI Filing Summary

Yum China Holdings (YUMC) CEO Joey Wat reported several equity compensation moves. On February 6, 2026, she received 86,282 restricted stock units (RSUs) at $0 per unit, each convertible into one share of common stock. These RSUs vest in thirds annually starting one year from February 6, 2026 and have no expiration date.

On February 8, 2026, 43,198 RSUs were converted into 43,198 shares of common stock at $0 per share, and 3,971 shares of common stock were disposed of at $57.95 per share. After these transactions, Wat directly held 478,436 shares of common stock and 44,505 RSUs, with an additional 272,944 shares held indirectly through a controlled corporation and trust.

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

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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^*

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)
02/06/2026

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		43,198	A	$0(1)	482,407	D
Common Stock	02/08/2026		F		3,971	D	$57.95	478,436	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)	02/06/2026		A		86,282		(2)	(3)	Common Stock	86,282	$0	86,282	D
Restricted Stock Unit	(1)	02/08/2026		M			43,198	(4)	(3)	Common Stock	43,198	$0	44,505	D

Explanation of Responses:

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

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

3. This grant does not have an expiration date.

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

	/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.
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FAQ

What insider transactions did YUMC CEO Joey Wat report on this Form 4?

Joey Wat reported receiving 86,282 restricted stock units, converting 43,198 RSUs into common shares at $0, and disposing of 3,971 common shares at $57.95. The filing also updates her direct and indirect common stock and RSU holdings.

How many Yum China (YUMC) RSUs were granted to CEO Joey Wat?

She was granted 86,282 restricted stock units at $0 per unit. Each RSU converts on a one-for-one basis into Yum China common stock, providing equity-based compensation that vests over time according to the schedule disclosed in the filing.

What is the vesting schedule for Joey Wat’s new YUMC restricted stock units?

The 86,282 RSUs vest in equal one-third installments each year, beginning one year from February 6, 2026. This time-based vesting structure is designed to align compensation with continued service and long-term company performance.

How many Yum China common shares did Joey Wat acquire and dispose of?

She acquired 43,198 common shares upon RSU conversion at $0 per share and disposed of 3,971 common shares at $57.95 per share. These movements reflect equity award settlement and a separate disposition recorded under transaction code F.

What are Joey Wat’s YUMC shareholdings after these Form 4 transactions?

Following the reported transactions, she directly holds 478,436 Yum China common shares and 44,505 RSUs. Additionally, 272,944 common shares are reported as indirectly held through a controlled corporation and trust structure.

Does the new YUMC RSU grant to Joey Wat have an expiration date?

The filing states that this RSU grant does not have an expiration date. Instead, the award is governed by its vesting schedule, with one-third of the units vesting each year beginning one year from February 6, 2026.