Yum China Pizza Hut GM granted 33, 60, 82 RSUs

A Yum China executive received additional dividend-equivalent RSU awards tied to earlier grants, vesting on the same schedule as the underlying units.

Rhea-AI Filing Summary

Yum China Holdings, Inc. (symbol: YUMC) is the issuer of record for a Form 4 filing submitted to the SEC. Kuai Jeff reported acquisition or exercise transactions in this Form 4 filing.

Yum China Holdings, Inc. (YUMC) reported that Jeff Kuai, General Manager of Pizza Hut, received three grants of Restricted Stock Units (RSUs) on September 17, 2026 as awards linked to prior RSU grants. The awards cover 33, 60, and 82 RSUs, each convertible into an equal number of shares of common stock on a one-for-one basis, with no expiration date. These RSUs are described as dividend equivalency units that vest on the same dates and under the same terms as the underlying RSUs, which vest in one-third installments annually beginning one year from their original grant date.

Insider Trade Summary

Grant/Award: 175 shares

Grant/Award 3 txns

Insider Kuai Jeff

Role General Manager, Pizza Hut

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit F1, F2, F3	33	$0.00	$0.00
Grant/Award	Restricted Stock Unit F1, F2, F3	60	$0.00	$0.00
Grant/Award	Restricted Stock Unit F1, F2, F3	82	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 25,336 contracts (Direct)

Footnotes (3)

1. F1. Conversion occurs on a one-for-one basis.
2. F2. 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. F3. This grant does not have an expiration date.

Key Figures

RSU grant 1: 33 Restricted Stock Units RSU grant 2: 60 Restricted Stock Units RSU grant 3: 82 Restricted Stock Units +3 more

6 metrics

RSU grant 1 33 Restricted Stock Units Awarded to Jeff Kuai on September 17, 2026 as dividend-equivalent RSUs

RSU grant 2 60 Restricted Stock Units Awarded to Jeff Kuai on September 17, 2026 as dividend-equivalent RSUs

RSU grant 3 82 Restricted Stock Units Awarded to Jeff Kuai on September 17, 2026 as dividend-equivalent RSUs

Conversion ratio 1 RSU for 1 share of common stock Footnote states conversion occurs on a one-for-one basis

Vesting pattern One-third per year Underlying RSUs vest 1/3 per year beginning one year from the grant date

Transaction price per RSU $0.00 per unit Each RSU grant is reported at a transaction price per share of 0.0000

Key Terms

Restricted Stock Unit, dividend equivalency payment, one-for-one basis

3 terms

Restricted Stock Unit financial

"These units represent Restricted Stock Units issuable to the Reporting Person"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

dividend equivalency payment financial

"Restricted Stock Units issuable ... as a dividend equivalency payment"

one-for-one basis financial

"Conversion occurs on a one-for-one basis"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did YUMC report for Jeff Kuai on September 17, 2026?

Yum China reported that Jeff Kuai received three RSU awards on September 17, 2026, covering 33, 60, and 82 Restricted Stock Units as additional grants tied to previously issued RSUs.

Are the new YUMC RSUs for Jeff Kuai dividend-equivalent units?

Yes. The filing states these units are Restricted Stock Units issuable as a dividend equivalency payment with respect to previously issued RSUs and will vest on the same dates and terms as those underlying RSUs.

How do the new RSUs for Jeff Kuai at YUMC convert into common stock?

Each new Restricted Stock Unit converts into YUMC common stock on a one-for-one basis, meaning one share of common stock for each RSU upon settlement, according to the filing footnote.

What is the vesting schedule for Jeff Kuai’s dividend-equivalent RSUs at YUMC?

The filing states the underlying RSUs vest one-third per year beginning one year from the grant date. The dividend-equivalent RSUs reported will vest on the same date and under the same terms as those underlying RSUs.

Do the YUMC RSU grants to Jeff Kuai reported here have an expiration date?

No. A footnote explains that this grant does not have an expiration date, so the RSUs remain outstanding subject to their vesting and forfeiture conditions.

Were Jeff Kuai’s YUMC RSU awards made under a Rule 10b5-1 trading plan?

No. The document-level Rule 10b5-1 checkbox is marked false, and the filing does not state that these RSU awards were made under any Rule 10b5-1 trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/21/2026 - 06:20 AM Accepted by SEC EDGAR 09/21/2026 - 06:19 AM Learn about SEC filing dates

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).

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^*

Kuai Jeff

(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)
	General Manager, Pizza Hut

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2026

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)	09/17/2026		A		33		(2)	(3)	Common Stock	33	$0	4,761	D
Restricted Stock Unit	(1)	09/17/2026		A		60		(2)	(3)	Common Stock	60	$0	8,702	D
Restricted Stock Unit	(1)	09/17/2026		A		82		(2)	(3)	Common Stock	82	$0	11,873	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	09/21/2026
	** 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)