Yum China (YUMC) CFO exercises RSUs and withholds shares for taxes

Rhea-AI Filing Summary

Yum China Holdings Chief Financial Officer Adrian Ding reported equity award activity involving company stock. On February 10, 2026, he exercised restricted stock units into 580 shares of common stock and another 3,153 shares, both at an exercise price of $0 per share under his award terms.

In connection with these awards, 1,681 common shares were disposed of at $57.12 per share to satisfy tax obligations through share delivery rather than cash. After these transactions, Ding directly owned 52,398 shares of Yum China common stock and held 6,403 restricted stock units, which convert to common stock on a one-for-one basis subject to vesting schedules beginning from February 10, 2022 and February 10, 2025.

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^*

Ding Adrian

(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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/10/2026

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	02/10/2026		M		580	A	$0(1)	50,926	D
Common Stock	02/10/2026		M		3,153	A	$0(1)	54,079	D
Common Stock	02/10/2026		F		1,681	D	$57.12	52,398	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)	02/10/2026		M			580	(2)	(3)	Common Stock	580	$0	0	D
Restricted Stock Unit	(1)	02/10/2026		M			3,153	(4)	(3)	Common Stock	3,153	$0	6,403	D

Explanation of Responses:

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

2. Vesting occurs 25% per year beginning one year from 2/10/2022.

3. This grant does not have an expiration date.

4. Vesting occurs 1/3 per year beginning one year from 2/10/2025.

	/s/ Pingping Liu, Power of Attorney	02/12/2026
	** 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).
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FAQ

What insider transactions did Yum China (YUMC) CFO Adrian Ding report?

Yum China CFO Adrian Ding reported exercising restricted stock units into common shares, then disposing of some shares for tax withholding. He converted 580 and 3,153 RSUs into stock and used 1,681 shares at $57.12 each to cover tax liabilities through share delivery.

How many Yum China (YUMC) shares does the CFO own after this Form 4?

After these transactions, Adrian Ding directly owns 52,398 Yum China common shares. He also holds 6,403 restricted stock units, each convertible into one share upon vesting based on schedules that start from February 10, 2022 and February 10, 2025, respectively.

What restricted stock units did Yum China (YUMC) CFO exercise on February 10, 2026?

On February 10, 2026, Ding exercised two blocks of restricted stock units: 580 units and 3,153 units, each converting into one Yum China common share at a $0 exercise price, consistent with his equity award agreements and the one-for-one RSU conversion terms disclosed.

Why were 1,681 Yum China (YUMC) shares disposed of in this filing?

The 1,681 Yum China shares were disposed of to pay tax liabilities related to the RSU vesting and conversion. The shares were valued at $57.12 each and delivered for tax withholding rather than sold in an open-market transaction, as indicated by transaction code F.

What are the vesting terms of the Yum China (YUMC) RSUs in this Form 4?

One RSU grant vests 25% per year beginning one year from February 10, 2022, and has no expiration date. A second RSU grant vests one-third per year beginning one year from February 10, 2025, with each vested unit converting into one share of common stock.