Yum China Controller Receives Routine Dividend Equivalent RSUs

Summary Analysis of Form 4 Filing

Issuer: Yum China Holdings, Inc. ($YUMC)
Reporting Owner: Lu Xueling, Controller and Principal Accounting Officer (PAO)
Filing Date: September 21, 2026
Transaction Date: September 17, 2026

Transaction Overview

Lu Xueling acquired an aggregate of 54 Restricted Stock Units (RSUs) across three tranches (10, 17, and 27 units) at $0.00 per unit. As detailed in Footnote 2, these units represent dividend equivalency payments accrued on previously granted RSUs and vest under the same terms and schedules as the underlying awards.

Holding Summary

• Tranche 1: 10 RSUs acquired; 1,470 RSUs held in that award series following the transaction.
• Tranche 2: 17 RSUs acquired; 2,536 RSUs held in that award series following the transaction.
• Tranche 3: 27 RSUs acquired; 3,957 RSUs held in that award series following the transaction.
• Ownership Nature: Direct.

Market Impact & Significance

The trading significance of this filing is categorized as Low. The acquisitions are routine, non-discretionary dividend equivalent credits linked to existing equity incentive compensation rather than open-market purchases or sales.