Yum China (YUMC) CFO receives new dividend-equivalent RSU grants

Rhea-AI Filing Summary

Ding Adrian reported acquisition or exercise transactions in this Form 4 filing.

Yum China Holdings, Inc. Chief Financial Officer Adrian Ding reported four new awards of Restricted Stock Units on March 25, 2026. The grants cover 17, 36, 52 and 107 RSUs, each convertible into common stock on a one-for-one basis. These RSUs are dividend-equivalency units tied to previously granted RSUs and will vest on the same schedule, which is 1/3 per year beginning one year from the original grant date of the underlying awards. The RSU grants have no expiration date and reflect compensation-related awards rather than open-market share purchases or sales.

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

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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 Adrian

(Last) (First) (Middle)

YUM CHINA BUILDING

20 TIAN YAO QIAO ROAD

(Street)

SHANGHAI F4 200030

(City) (State) (Zip)

CHINA

(Country)

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 Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/25/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)	03/25/2026		A		17		(2)	(3)	Common Stock	17	$0	3,133	D
Restricted Stock Unit	(1)	03/25/2026		A		36		(2)	(3)	Common Stock	36	$0	6,439	D
Restricted Stock Unit	(1)	03/25/2026		A		52		(2)	(3)	Common Stock	52	$0	9,281	D
Restricted Stock Unit	(1)	03/25/2026		A		107		(2)	(2)	Common Stock	107	$0	19,089	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 1/3 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.

3. This grant does not have an expiration date.

	/s/ Pingping Liu, Power of Attorney	03/27/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Yum China (YUMC) CFO Adrian Ding report in this Form 4?

Yum China CFO Adrian Ding reported four new Restricted Stock Unit awards on March 25, 2026. These are compensation-related grants, not open-market trades, and represent additional equity-based incentives tied to existing RSU awards already held by the executive.

How many RSUs did Yum China CFO Adrian Ding receive in the latest filing?

Adrian Ding received four separate Restricted Stock Unit awards of 17, 36, 52 and 107 units. Each unit represents the right to receive one share of Yum China common stock, subject to the applicable vesting conditions described in the filing footnotes.

Are the Yum China CFO’s new RSU awards open-market purchases or sales?

The reported RSU awards are not open-market purchases or sales. They are compensation-related grants classified as acquisitions under transaction code A, meaning they were awarded by the company rather than bought or sold on the stock market.

How do the new Yum China RSUs granted to the CFO vest over time?

The new RSUs are dividend-equivalency units tied to earlier RSU grants that vest 1/3 per year beginning one year from the original grant date. These reported RSUs will vest on the same dates and under the same terms as those underlying RSU awards.

Do the new RSU grants to Yum China’s CFO have an expiration date?

The filing states that this RSU grant does not have an expiration date. The units convert into shares of common stock on a one-for-one basis when they vest, following the same vesting schedule as the underlying RSU awards they are tied to.

What type of securities did Yum China’s CFO acquire in this Form 4?

The CFO acquired Restricted Stock Units, which are derivative securities representing the right to receive Yum China common shares in the future. Each RSU converts into one share upon vesting, giving the executive additional equity exposure as part of his compensation package.