Yum China Chief Legal Officer Receives Dividend Equivalent RSUs

Overview

On September 21, 2026, Yum China Holdings, Inc. ($YUMC) filed a Form 4 reporting derivative transactions by Chief Legal Officer Pingping Liu. On September 17, 2026, the insider was credited with an aggregate of 84 Restricted Stock Units (RSUs) across four tranches at an exercise price of $0.00.

Transaction Details

The transactions represent dividend equivalency payments accrued on previously granted, unvested RSUs:

• Tranche 1: 1 RSU (267 RSUs held in grant post-transaction)
• Tranche 2: 9 RSUs (1,358 RSUs held in grant post-transaction)
• Tranche 3: 25 RSUs (3,625 RSUs held in grant post-transaction)
• Tranche 4: 49 RSUs (7,037 RSUs held in grant post-transaction)

Across all four grants reported, the insider directly holds 12,287 RSUs following these transactions. The units convert into Common Stock on a one-for-one basis and vest subject to the original terms of the underlying awards.

Market Significance

This filing reflects routine dividend equivalency credits under Yum China's equity incentive compensation plan and does not constitute discretionary open-market buying or selling. As such, the market impact and trading significance are Low.