Yum China (YUMC) HR chief converts RSUs and withholds shares for taxes

Rhea-AI Filing Summary

Yum China Holdings Chief People Officer Jerry Ding reported equity transactions involving restricted stock units and common shares. On February 9, 2026, 401 restricted stock units converted into 401 shares of common stock at $0 per share, reflecting a one-for-one conversion.

On the same date, 135 common shares were disposed of at $57.50 per share in a transaction coded “F,” typically used for share withholding related to taxes. Following these transactions, Ding directly beneficially owned 2,370 shares of common stock and 397 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^*

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)
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		401	A	$0(1)	2,505	D
Common Stock	02/09/2026		F		135	D	$57.5	2,370	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)	02/09/2026		M			401	(2)	(3)	Common Stock	401	$0	397	D

Explanation of Responses:

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

2. Vesting occurs 25% 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.
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 transaction did YUMC Chief People Officer Jerry Ding report?

Jerry Ding reported a conversion of 401 restricted stock units into 401 Yum China common shares at $0 per share. He also reported a related disposition of 135 common shares at $57.50 per share, leaving him with 2,370 common shares held directly.

How many Yum China (YUMC) shares does Jerry Ding own after this Form 4?

After the reported transactions, Jerry Ding directly beneficially owns 2,370 shares of Yum China common stock. He also holds 397 restricted stock units, which represent a right to receive an equal number of shares on a one-for-one conversion basis under the award terms.

What does the RSU conversion mean in Jerry Ding’s YUMC Form 4 filing?

The Form 4 shows 401 restricted stock units converting into 401 Yum China common shares at $0 per share. Footnotes state the conversion is one-for-one, with vesting occurring 25% per year beginning one year from February 9, 2023, and no expiration date for the grant.

Why were 135 Yum China (YUMC) shares disposed of at $57.50 in the filing?

The disposition of 135 Yum China common shares at $57.50 per share is coded “F,” which typically indicates shares withheld to satisfy tax obligations. This transaction reduced Ding’s directly held common shares while reflecting the tax-related aspect of the RSU conversion event.

What is the vesting schedule of Jerry Ding’s Yum China restricted stock units?

The footnotes state that the restricted stock unit grant vests 25% per year, beginning one year from February 9, 2023. This means portions of the award become deliverable annually over four years, with each vested unit converting into one share of common stock.

Does Jerry Ding’s Yum China RSU grant have an expiration date?

The filing explains that this restricted stock unit grant does not have an expiration date. Instead, it follows a defined vesting schedule of 25% per year beginning one year from February 9, 2023, after which vested units convert one-for-one into common shares.