Yum China (NYSE: YUMC) supply chain chief exercises RSUs and withholds shares for taxes

Rhea-AI Filing Summary

Yum China Holdings, Inc. officer Howard Duoduo Huang, Chief Supply Chain Officer, reported equity award activity on February 9, 2026. He exercised restricted stock units into 1,722 shares of common stock and another 2,530 shares at an exercise price of $0 per share, reflecting one-for-one conversion into common stock. To cover taxes associated with these vestings, 1,914 common shares were withheld or disposed of at $57.5 per share under transaction code F. Following these transactions, Huang directly owned 25,291 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^*

HUANG Duoduo (Howard)

(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 Supply Chain Officer

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		1,722	A	$0(1)	24,675	D
Common Stock	02/09/2026		M		2,530	A	$0(1)	27,205	D
Common Stock	02/09/2026		F		1,914	D	$57.5	25,291	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			1,722	(2)	(3)	Common Stock	1,722	$0	0	D
Restricted Stock Unit	(1)	02/09/2026		M			2,530	(4)	(3)	Common Stock	2,530	$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.
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FAQ

What insider transaction did YUMC Chief Supply Chain Officer report?

Yum China (YUMC) Chief Supply Chain Officer Howard Duoduo Huang reported exercising restricted stock units into common shares. The filing also shows a share disposition to cover taxes, leaving him with a clearly disclosed direct common stock balance after the transactions.

How many Yum China (YUMC) shares did the officer acquire from RSUs?

Howard Duoduo Huang acquired 1,722 common shares and 2,530 common shares of Yum China (YUMC) through restricted stock unit exercises. These RSUs converted on a one-for-one basis into common stock at an exercise price of $0 per share, as disclosed in the filing.

How many Yum China (YUMC) shares were used to cover taxes in this Form 4?

The Form 4 shows 1,914 Yum China (YUMC) common shares disposed of under transaction code F at $57.5 per share. Code F typically indicates shares withheld or sold to satisfy tax obligations arising from equity award vesting or exercise events.

What is the officer’s Yum China (YUMC) share ownership after the transactions?

After the reported transactions, Chief Supply Chain Officer Howard Duoduo Huang directly owned 25,291 shares of Yum China (YUMC) common stock. This post-transaction balance reflects RSU conversions into shares and shares disposed of to address associated tax requirements.

What do the vesting terms of the Yum China (YUMC) RSUs indicate?

The RSUs convert into Yum China (YUMC) common stock on a one-for-one basis. One grant vests one-third per year starting one year from February 9, 2023, while another vests 50% on the second anniversary and 50% on the third anniversary of that date.

Are the Yum China (YUMC) restricted stock units subject to an expiration date?

The filing states that one restricted stock unit grant for Yum China (YUMC) does not have an expiration date. Instead, the awards are governed by specified vesting schedules, after which the units convert into common stock at a one-for-one ratio.