Yum China (YUMC) officer Lu Xueling converts RSUs, disposes 990 shares

Rhea-AI Filing Summary

Yum China Holdings, Inc. insider Lu Xueling, the company’s Controller and PAO, reported equity award activity on 02/09/2026. Two restricted stock unit awards converted on a one-for-one basis into 933 and 1,264 shares of common stock at an exercise price of $0. In connection with these awards, 990 shares of common stock were disposed of at $57.5 per share. After these transactions, Lu Xueling directly beneficially owned 28,477 shares of Yum China common stock.

Insider Trade Summary

2,197 shares exercised/converted

Mixed 5 txns

Insider Lu Xueling

Role Controller and PAO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	933	$0.00	--
Exercise	Restricted Stock Unit	1,264	$0.00	--
Exercise	Common Stock	933	$0.00	--
Exercise	Common Stock	1,264	$0.00	--
Tax Withholding	Common Stock	990	$57.50	$57K

Holdings After Transaction: Restricted Stock Unit — 0 shares (Direct); Common Stock — 29,467 shares (Direct)

Footnotes (1)

1. Conversion occurs on a one-for-one basis. Vesting occurs 1/3 per year beginning one year from 2/9/2023. This grant does not have an expiration date. Vesting occurs 50% on the second anniversary of 2/9/2023 and the remaining 50% vesting occurs on the third anniversary of 2/9/2023.

Form 4 Insider Transactions: What Each Field Means →

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
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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^*

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)
02/09/2026

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	02/09/2026		M		933	A	$0(1)	29,467	D
Common Stock	02/09/2026		M		1,264	A	$0(1)	29,741	D
Common Stock	02/09/2026		F		990	D	$57.5	28,477	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
Restricted Stock Unit	(1)	02/09/2026		M			933	(2)	(3)	Common Stock	933	$0	0	D
Restricted Stock Unit	(1)	02/09/2026		M			1,264	(4)	(3)	Common Stock	1,264	$0	0	D

Explanation of Responses:

1. Conversion occurs on a one-for-one basis.

2. Vesting occurs 1/3 per year beginning one year from 2/9/2023.

3. This grant does not have an expiration date.

4. Vesting occurs 50% on the second anniversary of 2/9/2023 and the remaining 50% vesting occurs on the third anniversary of 2/9/2023.

	/s/ Pingping Liu, Power of Attorney	02/11/2026
	** 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.

FAQ

What insider activity did Lu Xueling report at Yum China (YUMC)?

Lu Xueling reported RSU conversions and a share disposition on 02/09/2026. Two restricted stock unit grants converted into 933 and 1,264 common shares, followed by the disposition of 990 shares, leaving 28,477 common shares directly beneficially owned.

How many Yum China (YUMC) shares does Lu Xueling own after this Form 4?

After the reported transactions, Lu Xueling directly beneficially owned 28,477 shares of Yum China common stock. This figure reflects the RSU conversions into common shares and the disposition of 990 shares reported on 02/09/2026.

What types of securities were involved in Lu Xueling’s Yum China (YUMC) Form 4?

The filing shows activity in restricted stock units and common stock. Two RSU grants converted one-for-one into 933 and 1,264 common shares at $0 exercise price, and 990 common shares were disposed of at $57.5 per share.

What do the RSU vesting terms mean in Lu Xueling’s Yum China (YUMC) filing?

The RSU footnotes state one grant vests one-third per year starting one year from 02/09/2023, and another vests 50% on the second anniversary and 50% on the third. Both convert to common stock on a one-for-one basis without an expiration date.

What transaction codes appear in Lu Xueling’s Yum China (YUMC) Form 4?

The filing uses code “M” for the RSU conversions into common stock and code “F” for the disposition of 990 shares at $57.5 per share. All positions are reported as directly owned following these transactions.