Yum China (NYSE: YUMC) CPO gets new RSU dividend grants

Rhea-AI Filing Summary

Yum China Holdings, Inc. reported that Chief People Officer Jerry Ding received several small grants of restricted stock units on March 25 2026. The awards cover 2, 7, 8, 20 and 39 units, each convertible into common stock on a one-for-one basis at no exercise price.

According to the footnotes, these units are dividend-equivalency payments linked to previously issued restricted stock units and will vest on the same schedules as those underlying awards, which vest in either annual thirds or quarters starting one year from the original grant dates. No open-market share purchases or sales were reported; this filing reflects routine equity compensation rather than trading activity.

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^*

DING Jerry

(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 People Officer

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		2		(2)	(3)	Common Stock	2	$0	399	D
Restricted Stock Unit	(1)	03/25/2026		A		7		(4)	(3)	Common Stock	7	$0	1,308	D
Restricted Stock Unit	(1)	03/25/2026		A		8		(4)	(3)	Common Stock	8	$0	1,564	D
Restricted Stock Unit	(1)	03/25/2026		A		20		(4)	(3)	Common Stock	20	$0	3,577	D
Restricted Stock Unit	(1)	03/25/2026		A		39		(4)	(3)	Common Stock	39	$0	6,942	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 1/4 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.

4. 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.

	/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)

FAQ

What insider transaction did Yum China (YUMC) report for Jerry Ding?

Yum China reported new restricted stock unit grants for Jerry Ding. The Form 4 shows several small RSU awards granted as dividend-equivalency payments tied to prior RSU grants, with no open-market purchases or sales disclosed in this filing.

How many restricted stock units were granted to Jerry Ding at Yum China (YUMC)?

Jerry Ding received grants of 2, 7, 8, 20 and 39 RSUs. Each restricted stock unit is convertible into one share of Yum China common stock, reflecting additional equity compensation rather than cash salary, and is linked to existing RSU awards.

Are Jerry Ding’s Yum China (YUMC) RSU grants open-market purchases or sales?

The RSU entries are compensation grants, not market trades. The transactions are coded as awards with a zero exercise price, representing dividend-equivalency restricted stock units rather than open-market buying or selling of Yum China shares.

How do Jerry Ding’s new Yum China (YUMC) RSUs vest?

The new RSUs vest on the same schedule as prior linked awards. Footnotes state they mirror underlying restricted stock units, which vest either one-quarter or one-third per year beginning one year from the original grant date, extending vesting over multiple years.

Do Jerry Ding’s new Yum China (YUMC) RSU grants have an expiration date?

One footnote states this grant has no expiration date. The restricted stock units function as long-term equity incentives, with value realized as they vest and convert into common shares, rather than expiring like standard stock options.

Does this Yum China (YUMC) Form 4 suggest a change in trading behavior by Jerry Ding?

The filing reflects equity awards, not trading behavior. All transactions are coded as grants or awards of restricted stock units, with no reported share purchases or sales, indicating routine executive compensation rather than a directional move in Yum China stock.