Yum China (NYSE: YUMC) officer reports share grant on Form 4

Rhea-AI Filing Summary

Yum China Holdings, Inc. executive Lu Xueling, the company’s Controller and PAO, reported routine equity transactions in company stock. On January 14, 2026, Lu acquired 2,021 shares of common stock at $0.00 per share, representing the settlement of performance share units with a performance period from January 1, 2023 to December 31, 2025. On the same date, a second transaction coded “F” involved the disposition of 449 shares at $47.22 per share. After these transactions, Lu directly beneficially owned 27,690 shares of Yum China common stock.

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^*

Lu Xueling

(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)
	Controller and PAO

3. Date of Earliest Transaction (Month/Day/Year)
01/14/2026

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	01/14/2026		A		2,021(1)	A	$0	28,139	D
Common Stock	01/14/2026		F		449	D	$47.22	27,690	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

Explanation of Responses:

1. Transaction represents the settlement of performance share units granted to this reporting person with a performance period from January 1, 2023 to December 31, 2025.

	/s/ Pingping Liu, Power of Attorney	01/16/2026
	** 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.
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FAQ

What does Yum China (YUMC) disclose in this Form 4 filing?

This Form 4 reports that Lu Xueling, Controller and PAO of Yum China Holdings, Inc., had two transactions in the company’s common stock on January 14, 2026, including an equity award settlement and a small share disposition.

How many Yum China shares did Lu Xueling acquire in the reported transaction?

Lu Xueling acquired 2,021 shares of Yum China common stock at $0.00 per share, in connection with the settlement of performance share units covering a performance period from January 1, 2023 to December 31, 2025.

What was the second transaction reported in Lu Xueling’s Form 4 for Yum China (YUMC)?

The second transaction, also on January 14, 2026, was coded “F” and involved the disposition of 449 shares of Yum China common stock at a price of $47.22 per share.

How many Yum China shares does Lu Xueling own after these Form 4 transactions?

Following the reported transactions, Lu Xueling directly beneficially owned 27,690 shares of Yum China common stock.

What is the role of the reporting person in this Yum China (YUMC) Form 4?

The reporting person, Lu Xueling, is listed as an officer of Yum China Holdings, Inc., with the title Controller and PAO.

What is the performance period for the Yum China performance share units settled in this Form 4?

The footnote explains that the performance share units settled in this transaction had a performance period from January 1, 2023 to December 31, 2025.