Yum China CFO awarded 244 dividend RSUs

Yum China’s CFO received a small dividend-equivalency RSU award that vests with his existing RSU grants, with no sales or exercises reported.

Rhea-AI Filing Summary

Yum China Holdings, Inc. (YUMC) reported that its Chief Financial Officer, Adrian Ding, received four small grants of Restricted Stock Units (RSUs) on September 17, 2026 as dividend-equivalency awards tied to previously granted RSUs. The awards cover an aggregate of 244 RSUs, each convertible into one share of common stock on a one-for-one basis. These RSUs carry no exercise price, do not have an expiration date, and will vest on the same schedule and terms as the underlying RSU grants to which the dividend-equivalency units relate. No Rule 10b5-1 trading plan is reported for these awards.

Insider Trade Summary

Grant/Award: 244 shares

Grant/Award 4 txns

Insider Ding Adrian

Role Chief Financial 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	45	$0.00	$0.00
Grant/Award	Restricted Stock Unit F1, F2, F3	43	$0.00	$0.00
Grant/Award	Restricted Stock Unit F1, F2, F3	134	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 35,355 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

RSUs granted (22-shares award): 22 RSUs RSUs granted (45-shares award): 45 RSUs RSUs granted (43-shares award): 43 RSUs +2 more

5 metrics

RSUs granted (22-shares award) 22 RSUs Dividend-equivalency RSU grant to CFO on September 17, 2026

RSUs granted (45-shares award) 45 RSUs Dividend-equivalency RSU grant to CFO on September 17, 2026

RSUs granted (43-shares award) 43 RSUs Dividend-equivalency RSU grant to CFO on September 17, 2026

RSUs granted (134-shares award) 134 RSUs Dividend-equivalency RSU grant to CFO on September 17, 2026

Total RSUs granted 244 RSUs Sum of four dividend-equivalency RSU awards reported for CFO

Key Terms

Restricted Stock Unit, dividend equivalency payment, Rule 10b5-1 plan

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

"These units represent Restricted Stock Units issuable ... as a dividend equivalency payment"

Rule 10b5-1 plan regulatory

"No Rule 10b5-1 trading plan is reported for these awards"

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

FAQ

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

What insider transaction did YUMC report for its CFO Adrian Ding?

Yum China reported that CFO Adrian Ding received four grants totaling 244 Restricted Stock Units on September 17, 2026, as dividend-equivalency RSUs linked to previously granted RSUs, with no corresponding sales or exercises disclosed.

How many Yum China (YUMC) RSUs did the CFO acquire in this Form 4?

Adrian Ding acquired 244 Restricted Stock Units in total: grants of 22, 45, 43, and 134 RSUs, each representing one share of Yum China common stock upon conversion.

What is the vesting schedule for the new YUMC RSUs granted to the CFO?

The newly reported RSUs will vest on the same dates and under the same terms as the underlying RSUs to which the dividend-equivalency units relate, which vest one-third per year beginning one year from the original grant date of those underlying RSUs.

Do the newly granted YUMC RSUs to the CFO have an expiration date or exercise price?

The filing states that this grant does not have an expiration date and the RSUs were reported with a $0.00 per-unit price, reflecting that they are compensation awards rather than purchased shares.

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

No. The document-level checkbox for Rule 10b5-1 trading plans is reported as false, indicating these RSU awards were not made pursuant to an affirmed Rule 10b5-1 plan.

How do the new RSUs for the YUMC CFO convert into common stock?

The footnotes state that conversion occurs on a one-for-one basis, meaning each RSU granted to the CFO is convertible into one share of Yum China common stock upon vesting and settlement.

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

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Available on EDGAR 09/21/2026 - 06:04 AM Accepted by SEC EDGAR 09/21/2026 - 06:03 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^*

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)
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	3,176	D
Restricted Stock Unit	(1)	09/17/2026		A		45		(2)	(3)	Common Stock	45	$0	6,527	D
Restricted Stock Unit	(1)	09/17/2026		A		43		(2)	(3)	Common Stock	43	$0	6,302	D
Restricted Stock Unit	(1)	09/17/2026		A		134		(2)	(3)	Common Stock	134	$0	19,350	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)