Yum China (YUMC) CTO Leila Zhang exercises RSUs, withholds shares for taxes

Rhea-AI Filing Summary

Yum China Holdings Chief Technology Officer Leila Zhang reported equity award activity and related share withholding. On 02/10/2026, she exercised restricted stock units into 686 and 2,453 shares of common stock at an exercise price of $0 per share, reflecting the one-for-one RSU-to-share conversion.

To cover tax obligations from these awards, 1,413 shares of common stock were disposed of at $57.12 per share through share withholding. After these transactions, Zhang directly owned 60,438 shares of Yum China common stock and 4,979 restricted stock units that continue to vest over time.

Insider Trade Summary

3,139 shares exercised/converted

Mixed 5 txns

Insider Zhang Leila

Role Chief Technology Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	686	$0.00	--
Exercise	Restricted Stock Unit	2,453	$0.00	--
Exercise	Common Stock	686	$0.00	--
Exercise	Common Stock	2,453	$0.00	--
Tax Withholding	Common Stock	1,413	$57.12	$81K

Holdings After Transaction: Restricted Stock Unit — 0 shares (Direct); Common Stock — 59,398 shares (Direct)

Footnotes (1)

1. Conversion occurs on a one-for-one basis. Vesting occurs 25% per year beginning one year from 2/10/2022. This grant does not have an expiration date. Vesting occurs 1/3 per year beginning one year from 2/10/2025.

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
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^*

Zhang Leila

(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)
	Chief Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/10/2026

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	02/10/2026		M		686	A	$0(1)	59,398	D
Common Stock	02/10/2026		M		2,453	A	$0(1)	61,851	D
Common Stock	02/10/2026		F		1,413	D	$57.12	60,438	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)	02/10/2026		M			686	(2)	(3)	Common Stock	686	$0	0	D
Restricted Stock Unit	(1)	02/10/2026		M			2,453	(4)	(3)	Common Stock	2,453	$0	4,979	D

Explanation of Responses:

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

2. Vesting occurs 25% per year beginning one year from 2/10/2022.

3. This grant does not have an expiration date.

4. Vesting occurs 1/3 per year beginning one year from 2/10/2025.

	/s/ Pingping Liu, Power of Attorney	02/12/2026
	** 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 transactions did Yum China (YUMC) report for Leila Zhang on February 10, 2026?

On 10 February 2026, Chief Technology Officer Leila Zhang exercised restricted stock units into Yum China common stock and had shares withheld for taxes. She converted 686 and 2,453 RSUs into common shares and disposed of 1,413 shares to satisfy tax obligations via share withholding.

How many Yum China (YUMC) shares does CTO Leila Zhang own after the latest Form 4 filing?

Following the reported transactions, Chief Technology Officer Leila Zhang directly owns 60,438 shares of Yum China common stock. She also holds 4,979 restricted stock units, which will continue to vest over time according to their original vesting schedules disclosed in the filing footnotes.

Were the Yum China (YUMC) insider transactions by Leila Zhang open-market buys or sales?

The reported transactions were not open-market trades. They involved the exercise of restricted stock units into common shares at an exercise price of zero, plus a disposal of 1,413 shares solely to satisfy tax liabilities through share withholding, rather than a discretionary market sale.

What is the nature of the restricted stock units reported by Yum China (YUMC) for Leila Zhang?

The restricted stock units convert into Yum China common stock on a one-for-one basis. One grant vests 25% per year beginning one year from 10 February 2022, while another vests in one-third installments annually starting one year from 10 February 2025, with no stated expiration date.

What transaction codes appear in the Yum China (YUMC) Form 4 for Leila Zhang and what do they mean?

The filing shows code M and code F. Code M reflects the exercise or conversion of derivative securities, in this case restricted stock units converting into common shares. Code F indicates shares disposed of to pay tax liabilities by delivering shares instead of using cash, via share withholding.

Did the Yum China (YUMC) CTO receive any cash from the reported Form 4 transactions?

The reported equity exercises used an exercise price of zero dollars per share, so no cash was paid to acquire the shares. The disposition under code F represents shares withheld to cover taxes, rather than cash proceeds received by the insider from selling shares into the open market.