Yum China GM awarded 222 RSUs as dividends

Yum China Holdings, Inc. reported that Warton Wang, General Manager of KFC, received grants of Restricted Stock Units (RSUs) on March 25, 2026.

Rhea-AI Filing Summary

Yum China Holdings, Inc. reported that Warton Wang, General Manager of KFC, received grants of Restricted Stock Units (RSUs) on March 25, 2026. These awards total 222 RSUs, issued as dividend equivalency units tied to previously granted RSUs.

The RSUs convert into common stock on a one-for-one basis and have no expiration date. They vest on the same schedule as the underlying RSUs, which vest in three equal installments beginning one year from their original grant dates. The filing shows only compensation-related acquisitions and no open-market share purchases or sales.

Insider Trade Summary

Grant/Award: 222 shares

Grant/Award 3 txns

Insider Wang Warton

Role General Manager, KFC

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	35	$0.00	$0.00
Grant/Award	Restricted Stock Unit	70	$0.00	$0.00
Grant/Award	Restricted Stock Unit	117	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 39,608 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.

FAQ

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

What did Yum China (YUMC) disclose in Warton Wang’s latest Form 4?

Yum China disclosed that Warton Wang, General Manager of KFC, received 222 Restricted Stock Units as compensation on March 25, 2026. These RSUs are dividend equivalency units linked to earlier RSU grants and follow the same multi-year vesting schedule as the underlying awards.

How many Restricted Stock Units did Warton Wang receive from Yum China (YUMC)?

Warton Wang received a total of 222 Restricted Stock Units, issued in three grants of 35, 70, and 117 units. All are dividend equivalency RSUs that convert into common stock on a one-for-one basis and share the vesting terms of prior RSU awards.

Are Warton Wang’s new Yum China (YUMC) RSUs open-market purchases or sales?

The RSUs are compensation-related grants, not open-market purchases or sales. They were awarded as dividend equivalency units on existing RSUs, with no cash price per share, and therefore do not represent trading activity in Yum China stock on the open market.

How do Warton Wang’s new RSUs at Yum China (YUMC) vest over time?

The new RSUs vest on the same schedule as the underlying RSUs to which they relate. Those underlying awards vest in three equal installments, with vesting beginning one year from the grant date, aligning the dividend equivalency units with the original multi-year vesting pattern.

What is the conversion rate of Warton Wang’s Yum China (YUMC) RSUs to common stock?

Each Restricted Stock Unit converts into one share of Yum China common stock on a one-for-one basis. This means the 222 RSUs disclosed for Warton Wang are economically equivalent to 222 shares, subject to vesting and any applicable company conditions.

Do Warton Wang’s new Yum China (YUMC) RSUs have an expiration date?

The grant does not have an expiration date according to the disclosure. Instead, the RSUs are governed by their vesting schedule tied to the original RSU awards, after which vested units convert into common shares on a one-for-one basis.

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

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Accepted by SEC EDGAR 03/27/2026 - 09:00 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^*

Wang Warton

(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, KFC

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/25/2026

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)	03/25/2026		A		35		(2)	(3)	Common Stock	35	$0	6,263	D
Restricted Stock Unit	(1)	03/25/2026		A		70		(2)	(3)	Common Stock	70	$0	12,520	D
Restricted Stock Unit	(1)	03/25/2026		A		117		(2)	(3)	Common Stock	117	$0	20,825	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	03/27/2026
	** 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)