STOCK TITAN

[Form 4] Yum China Holdings, Inc. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4

Yum China insider award details and resulting holdings. The company's Chief People Officer received multiple dividend-equivalent Restricted Stock Units (RSUs) that convert one-for-one into common shares. The reported transactions on 09/23/2025 show grants of 2, 4, 7, 17 and 29 RSUs (totaling 59 RSUs) that convert into the same number of common shares at $0 price. After these awards the reporting person beneficially owns reported increments of 355, 795, 1,295, 3,053 and 5,282 shares tied to the respective underlying RSU grants. The dividend-equivalent RSUs vest on the same schedule as the underlying RSUs (either 1/4 per year or 1/3 per year depending on the grant) and have no expiration date.

Dettagli dell'insider award di Yum China e le partecipazioni conseguenti. Il Chief People Officer della società ha ricevuto multiple RSU (Restricted Stock Units) con valore di dividendo equivalente che si convertono uno-­a-uno in azioni ordinarie. Le operazioni riportate il 23/09/2025 mostrano assegnazioni di 2, 4, 7, 17 e 29 RSU (totale 59 RSU) che si convertono nello stesso numero di azioni ordinarie a prezzo 0$. Dopo tali premi la persona riportante detiene incrementi benefici di 355, 795, 1.295, 3.053 e 5.282 azioni legate ai rispettivi grant RSU sottostanti. Le RSU con valore di dividendo equivalente maturano secondo lo stesso calendario delle RSU sottostanti (o 1/4 all'anno o 1/3 all'anno a seconda del grant) e non hanno data di scadenza.

Detalles del premio de insider de Yum China y las participaciones resultantes. El Director de Personas de la empresa recibió múltiples RSUs (Restricted Stock Units) con valor de dividendo equivalente que se convierten uno a uno en acciones comunes. Las transacciones reportadas el 23/09/2025 muestran asignaciones de 2, 4, 7, 17 y 29 RSU (un total de 59 RSU) que se convierten en el mismo número de acciones comunes a un precio de 0$. Después de estos premios, la persona reportante posee incrementos de 355, 795, 1.295, 3.053 y 5.282 acciones vinculadas a las correspondientes otorgaciones de RSU subyacentes. Las RSU con valor de dividendo equivalente vencen con el mismo cronograma que las RSU subyacentes (ya sea 1/4 por año o 1/3 por año dependiendo de la concesión) y no tienen fecha de caducidad.

Yum China 내부자 보상 상세 및 보유 현황. 회사의 Chief People Officer가 배당금과 동일한 가치의 RSU(Restricted Stock Units)를 다수 수령했고 이는 1대1로 보통주로 전환됩니다. 2025년 9월 23일에 보고된 거래는 2, 4, 7, 17, 29 RSU의 수여를 보여주며(총 59 RSU) 이는 같은 수의 보통주로 0$의 가격에 전환됩니다. 이러한 수상 이후 보고자는 각 기초 RSU grant와 연결된 355주, 795주, 1,295주, 3,053주, 5,282주를 유익하게 보유하게 됩니다. 배당금과 동일한 가치의 RSU는 기초 RSU와 동일한 일정으로 vesting되며(그랜트에 따라 연 1/4 또는 연 1/3) 만료일이 없습니다.

Détails des récompenses d'initiés Yum China et les holdings qui en résultent. Le directeur des personnes de l'entreprise a reçu plusieurs RSU (Restricted Stock Units) à valeur de dividende équivalente qui se convertissent en actions ordinaires au ratio 1 pour 1. Les transactions rapportées le 23/09/2025 montrent des attributions de 2, 4, 7, 17 et 29 RSU (au total 59 RSU) qui se convertissent en le même nombre d'actions ordinaires à un prix de 0 $. Après ces attributions, la personne déclarant détient des augmentations respectives de 355, 795, 1 295, 3 053 et 5 282 actions liées aux subventions RSU sous-jacentes. Les RSU à valeur de dividende équivalente vestent selon le même calendrier que les RSU sous-jacentes (soit 1/4 par an ou 1/3 par an selon la attribution) et n'ont pas de date d'expiration.

Details zu Yum China Insidern Award und daraus resultierenden Holdings. Der Chief People Officer des Unternehmens erhielt mehrere RSUs (Restricted Stock Units) mit Dividendenäquivalent, die eins-zu-eins in Stammaktien umgewandelt werden. Die am 23.09.2025 gemeldeten Transaktionen zeigen Zuweisungen von 2, 4, 7, 17 und 29 RSUs (insgesamt 59 RSUs), die in dieselbe Anzahl Stammaktien zum Preis von 0 $ umgewandelt werden. Nach diesen Zuwendungen besitzt die meldende Person vorteilhaft Anstiege von 355, 795, 1.295, 3.053 und 5.282 Aktien, die mit den jeweiligen zugrunde liegenden RSU-Zuweisungen verbunden sind. Die Dividendenäquivalent-RSUs vesten nach dem gleichen Zeitplan wie die zugrunde liegenden RSUs (entweder 1/4 pro Jahr oder 1/3 pro Jahr je nach Zuteilung) und haben kein Verfallsdatum.

تفاصيل جائزة المطلعين Yum China والملكيات الناتجة. تلقّى كبير مسؤولي الأشخاص في الشركة عدة RSU (وحدات الأسهم المقيدة) بقيمة أرباح موزعة معادلة والتي تتحوّل إلى الأسهم العادية بنسبة 1 إلى 1. تُظهر المعاملات المُبلغ عنها في 23/09/2025 منحاً من 2 و4 و7 و17 و29 RSU (إجمالي 59 RSU) تتحول إلى العدد نفسه من الأسهم العادية بسعر 0 دولار. بعد هذه الجوائز تمتلك الشخص المُبلّغ عنّه زيادات بنحو 355 و795 و1,295 و3,053 و5,282 سهماً مرتبطة بالمنح RSU الأساسية. RSU ذات قيمة الأرباح المعادلة تستحق وفق نفس الجدول الزمني للـ RSU الأساسية (إما رُبع سنوياً أو ثلث سنوياً حسب المنحة) وليس لها تاريخ انتهاء.

Yum China 内幕奖励细节及由此产生的持股。 公司的首席人力官获得多份带有股息等值的限制性股票单位(RSU),可1:1转换为普通股。2025年9月23日披露的交易显示授予2、4、7、17和29个RSU(总计59个RSU),可按同等数量的普通股以0美元价格转换。完成这些授予后,报告人按各自的基础RSU授予产生的增持量分别为355、795、1,295、3,053和5,282股。带有股息等值的RSU的归属时间表与基础RSU相同(按每年1/4或1/3的比例归属,具体取决于授予),且无到期日。

Positive
  • Dividend-equivalent RSUs awarded, aligning the Chief People Officer's interests with shareholders by tying compensation to equity value
  • No cash purchase price for the reported RSUs, indicating standard compensation rather than a discounted insider buy
  • Vesting mirrors underlying RSUs (1/4 per year or 1/3 per year), reinforcing retention incentives and predictable future alignment
Negative
  • None.

Insights

TL;DR Routine dividend-equivalent RSU awards increase insider alignment but are not material to company capitalization.

The reporting shows the Chief People Officer received 59 dividend-equivalent RSUs that convert one-for-one to common stock at no cost, increasing her beneficial holdings tied to multiple underlying grants. These awards mirror existing RSU vesting schedules (either quarterly over four years or in thirds over three years), so the economic impact follows previously disclosed equity compensation timelines. There is no exercise price and no expiration, indicating standard retention-oriented compensation rather than performance-contingent pay. Given the modest share counts reported, the transaction appears routine and unlikely to affect public market metrics materially.

TL;DR The grant is a standard dividend-equivalent equity award that aligns executive and shareholder interests without unusual governance implications.

The form indicates dividend-equivalent RSUs issued as compensation, vesting on the same schedule as underlying awards and carrying no expiration. This structure is common for maintaining parity between cash dividends and equity compensation. The awards were documented under a Form 4 filing, reflecting required insider reporting. There is no indication of accelerated vesting, discretionary repricing, or unusual terms disclosed here. From a governance perspective, these disclosures are consistent with typical equity compensation practices and provide transparency about insider holdings.

Dettagli dell'insider award di Yum China e le partecipazioni conseguenti. Il Chief People Officer della società ha ricevuto multiple RSU (Restricted Stock Units) con valore di dividendo equivalente che si convertono uno-­a-uno in azioni ordinarie. Le operazioni riportate il 23/09/2025 mostrano assegnazioni di 2, 4, 7, 17 e 29 RSU (totale 59 RSU) che si convertono nello stesso numero di azioni ordinarie a prezzo 0$. Dopo tali premi la persona riportante detiene incrementi benefici di 355, 795, 1.295, 3.053 e 5.282 azioni legate ai rispettivi grant RSU sottostanti. Le RSU con valore di dividendo equivalente maturano secondo lo stesso calendario delle RSU sottostanti (o 1/4 all'anno o 1/3 all'anno a seconda del grant) e non hanno data di scadenza.

Detalles del premio de insider de Yum China y las participaciones resultantes. El Director de Personas de la empresa recibió múltiples RSUs (Restricted Stock Units) con valor de dividendo equivalente que se convierten uno a uno en acciones comunes. Las transacciones reportadas el 23/09/2025 muestran asignaciones de 2, 4, 7, 17 y 29 RSU (un total de 59 RSU) que se convierten en el mismo número de acciones comunes a un precio de 0$. Después de estos premios, la persona reportante posee incrementos de 355, 795, 1.295, 3.053 y 5.282 acciones vinculadas a las correspondientes otorgaciones de RSU subyacentes. Las RSU con valor de dividendo equivalente vencen con el mismo cronograma que las RSU subyacentes (ya sea 1/4 por año o 1/3 por año dependiendo de la concesión) y no tienen fecha de caducidad.

Yum China 내부자 보상 상세 및 보유 현황. 회사의 Chief People Officer가 배당금과 동일한 가치의 RSU(Restricted Stock Units)를 다수 수령했고 이는 1대1로 보통주로 전환됩니다. 2025년 9월 23일에 보고된 거래는 2, 4, 7, 17, 29 RSU의 수여를 보여주며(총 59 RSU) 이는 같은 수의 보통주로 0$의 가격에 전환됩니다. 이러한 수상 이후 보고자는 각 기초 RSU grant와 연결된 355주, 795주, 1,295주, 3,053주, 5,282주를 유익하게 보유하게 됩니다. 배당금과 동일한 가치의 RSU는 기초 RSU와 동일한 일정으로 vesting되며(그랜트에 따라 연 1/4 또는 연 1/3) 만료일이 없습니다.

Détails des récompenses d'initiés Yum China et les holdings qui en résultent. Le directeur des personnes de l'entreprise a reçu plusieurs RSU (Restricted Stock Units) à valeur de dividende équivalente qui se convertissent en actions ordinaires au ratio 1 pour 1. Les transactions rapportées le 23/09/2025 montrent des attributions de 2, 4, 7, 17 et 29 RSU (au total 59 RSU) qui se convertissent en le même nombre d'actions ordinaires à un prix de 0 $. Après ces attributions, la personne déclarant détient des augmentations respectives de 355, 795, 1 295, 3 053 et 5 282 actions liées aux subventions RSU sous-jacentes. Les RSU à valeur de dividende équivalente vestent selon le même calendrier que les RSU sous-jacentes (soit 1/4 par an ou 1/3 par an selon la attribution) et n'ont pas de date d'expiration.

Details zu Yum China Insidern Award und daraus resultierenden Holdings. Der Chief People Officer des Unternehmens erhielt mehrere RSUs (Restricted Stock Units) mit Dividendenäquivalent, die eins-zu-eins in Stammaktien umgewandelt werden. Die am 23.09.2025 gemeldeten Transaktionen zeigen Zuweisungen von 2, 4, 7, 17 und 29 RSUs (insgesamt 59 RSUs), die in dieselbe Anzahl Stammaktien zum Preis von 0 $ umgewandelt werden. Nach diesen Zuwendungen besitzt die meldende Person vorteilhaft Anstiege von 355, 795, 1.295, 3.053 und 5.282 Aktien, die mit den jeweiligen zugrunde liegenden RSU-Zuweisungen verbunden sind. Die Dividendenäquivalent-RSUs vesten nach dem gleichen Zeitplan wie die zugrunde liegenden RSUs (entweder 1/4 pro Jahr oder 1/3 pro Jahr je nach Zuteilung) und haben kein Verfallsdatum.

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).
1. Name and Address of Reporting Person*
DING Jerry

(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)
Chief People Officer
3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025
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
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) 09/23/2025 A 2 (2) (3) Common Stock 2 $0 355 D
Restricted Stock Unit (1) 09/23/2025 A 4 (2) (3) Common Stock 4 $0 795 D
Restricted Stock Unit (1) 09/23/2025 A 7 (4) (3) Common Stock 7 $0 1,295 D
Restricted Stock Unit (1) 09/23/2025 A 17 (4) (3) Common Stock 17 $0 3,053 D
Restricted Stock Unit (1) 09/23/2025 A 29 (4) (3) Common Stock 29 $0 5,282 D
Explanation of Responses:
1. Conversion occurs on a one-for-one basis.
2. These units represent Restricted Stock Units issuable to the Reporting Person as a dividend equivalency payment with respect to Restricted Stock Units previously issued to the Reporting Person which vest 1/4 per year beginning one year from the grant date. The Restricted Stock Units reported herein shall vest on the same date and under the same terms as the underlying Restricted Stock Units with respect of which these dividend equivalency units vest.
3. This grant does not have an expiration date.
4. These units represent Restricted Stock Units issuable to the Reporting Person as a dividend equivalency payment with respect to Restricted Stock Units previously issued to the Reporting Person which vest 1/3 per year beginning one year from the grant date. The Restricted Stock Units reported herein shall vest on the same date and under the same terms as the underlying Restricted Stock Units with respect of which these dividend equivalency units vest.
/s/ Pingping Liu, Power of Attorney 09/25/2025
** 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 were reported for Yum China (YUMC)?

The Chief People Officer received multiple dividend-equivalent Restricted Stock Units (totaling 59 RSUs) convertible one-for-one to common shares, reported with transaction date 09/23/2025.

How many shares will the reported RSUs convert into for YUMC?

The reported dividend-equivalent units convert one-for-one into common stock: grants of 2, 4, 7, 17 and 29 units, totaling 59 shares when converted.

Do the reported RSUs have an exercise price for YUMC?

No; the Form 4 shows the dividend-equivalent RSUs convert at $0 price, reflecting standard restricted stock unit treatment rather than an option exercise.

When do the dividend-equivalent RSUs vest for the reporting person?

They vest on the same schedule as the underlying RSUs: either 1/4 per year beginning one year from grant date or 1/3 per year beginning one year from grant date, per the filing.

Do the reported RSUs expire for Yum China insider grants?

The filing states these RSUs do not have an expiration date.
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