Yum China supply chief granted 140 dividend RSUs

Yum China’s chief supply chain officer received RSU dividend equivalents that vest over time alongside earlier equity awards.

Rhea-AI Filing Summary

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

Yum China Holdings, Inc. (YUMC) reported that Chief Supply Chain Officer Duoduo (Howard) Huang received three grants of Restricted Stock Units on September 17, 2026, as dividend equivalency payments linked to earlier RSU awards. The grants cover 22, 42 and 76 RSUs, each convertible into common stock on a one-for-one basis. These RSUs vest on the same schedule as the underlying prior RSUs, which vest one-third per year beginning one year from their original grant dates, and the new grants have no expiration date. No Rule 10b5-1 trading plan is reported for these awards.

Insider Trade Summary

Grant/Award: 140 shares

Grant/Award 3 txns

Insider HUANG Duoduo (Howard)

Role Chief Supply Chain Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit F1, F2, F3	22	$0.00	$0.00
Grant/Award	Restricted Stock Unit F1, F2, F3	42	$0.00	$0.00
Grant/Award	Restricted Stock Unit F1, F2, F3	76	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 20,332 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: 22 Restricted Stock Units RSU grant 2: 42 Restricted Stock Units RSU grant 3: 76 Restricted Stock Units +2 more

5 metrics

RSU grant 1 22 Restricted Stock Units Dividend equivalency RSUs granted on September 17, 2026

RSU grant 2 42 Restricted Stock Units Dividend equivalency RSUs granted on September 17, 2026

RSU grant 3 76 Restricted Stock Units Dividend equivalency RSUs granted on September 17, 2026

Total RSUs granted 140 Restricted Stock Units Sum of three dividend equivalency RSU awards reported

Grant price per RSU $0.00 per unit Reported transaction price per RSU for all three awards

Key Terms

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

4 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

"issuable to the Reporting Person as a dividend equivalency payment"

one-for-one basis financial

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

expiration date financial

"This grant does not have an expiration date"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

FAQ

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

What equity awards did YUMC grant to Duoduo (Howard) Huang on September 17, 2026?

Yum China granted Duoduo (Howard) Huang three Restricted Stock Unit awards as dividend equivalency payments covering 22, 42, and 76 RSUs, each ultimately deliverable in shares of common stock on a one-for-one basis.

How many total RSUs were granted to the YUMC chief supply chain officer in this Form 4?

The three awards total 140 Restricted Stock Units (22 + 42 + 76). Each RSU represents the right to receive one share of Yum China common stock, subject to the vesting terms of the underlying prior RSU grants.

How do the new YUMC RSUs for Duoduo (Howard) Huang vest?

The RSUs reported vest on the same dates and terms as the underlying RSUs to which they relate, which vest one-third per year starting one year after the original grant date of those prior RSU awards.

What is the conversion ratio of the reported YUMC RSUs into common stock?

Each reported Restricted Stock Unit converts into Yum China common stock on a one-for-one basis, meaning one share of common stock will be issuable for each vested RSU, subject to the plan’s conditions.

Do the YUMC RSU grants to Duoduo (Howard) Huang have an expiration date?

According to the disclosure, this grant does not have an expiration date, so the reported RSUs remain outstanding subject to their vesting and settlement conditions, without a fixed termination date.

Were these YUMC RSU transactions made under a Rule 10b5-1 trading plan?

The filing indicates no Rule 10b5-1 plan applies, as the relevant checkbox is not marked. The awards are reported as compensation-related grants rather than trades under a pre-arranged trading program.

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

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Available on EDGAR 09/21/2026 - 06:13 AM Accepted by SEC EDGAR 09/21/2026 - 06:13 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^*

HUANG Duoduo (Howard)

(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 Supply Chain Officer

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		22		(2)	(3)	Common Stock	22	$0	3,174	D
Restricted Stock Unit	(1)	09/17/2026		A		42		(2)	(3)	Common Stock	42	$0	6,163	D
Restricted Stock Unit	(1)	09/17/2026		A		76		(2)	(3)	Common Stock	76	$0	10,995	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)