4//SEC Filing
Yang William Wang 4
Accession 0000943663-20-000246
CIK 0001673358other
Filed
Nov 2, 7:00 PM ET
Accepted
Nov 3, 7:26 PM ET
Size
9.8 KB
Accession
0000943663-20-000246
Insider Transaction Report
Form 4
Yang William Wang
Director
Transactions
- Other
Pre-paid Forward Transaction
2020-10-30−4,000,000→ 3,549,214.81 total(indirect: See Footnote)→ Common Stock, par value $0.01 per share (4,000,000 underlying)
Holdings
- 16,364,778(indirect: See Footnote)
Common Stock, par value $0.01
- 24,688
Common Stock, par value $0.01
- 7,549,214.81(indirect: See Footnote)
Warrant 1
Exercise: $30.40From: 2017-01-09Exp: 2021-10-31→ Common Stock, par value $0.01 per share (7,549,214.81 underlying)
Footnotes (3)
- [F1]The common stock is held directly by Pollos Investment L.P. ("Pollos Investment") and the warrants are held directly by Pollos Upside L.P. ("Pollos Upside") and the Transaction (as defined below) was entered into by Pollos Upside. The limited partnership interests of both Pollos Investment and Pollos Upside are ultimately owned by a private fund ("Fund") for which an affiliate of the Reporting Person is special limited partner ("Special Limited Partner") and has a contingent right to receive a performance fee. The Reporting Person is a shareholder of the parent company of the general partner of the Special Limited Partner (the "Parent Company") and may be deemed to have pecuniary interest through his indirect entitlement to receive a share of any Fund performance fee.
- [F2]Pursuant to the formula set forth in Section 12 of Warrant 1, the exercise price and number of shares issuable under Warrant 1 has been adjusted to reflect dividends declared by Yum China Holdings, Inc. and the listing of Yum China Holdings, Inc.'s shares on The Stock Exchange of Hong Kong Limited.
- [F3]On October 30, 2020, Pollos Upside entered into a pre-paid forward transaction with an unaffiliated bank relating to a portion of Warrant 1 relating to 4,000,000 shares of common stock. On the settlement date, or subject to certain conditions, on demand of the counterparty, Pollos Upside will be obligated to deliver to such unaffiliated bank such interest in Warrant 1, relating to 4,000,000 shares of common stock, unless Pollos Upside elects, in certain cases, for net share settlement to apply. In exchange for assuming this obligation, Pollos Upside will receive an aggregate prepayment amount of $89,124,000 on November 3, 2020.
Documents
Issuer
Yum China Holdings, Inc.
CIK 0001673358
Entity typeother
Related Parties
1- filerCIK 0001713245
Filing Metadata
- Form type
- 4
- Filed
- Nov 2, 7:00 PM ET
- Accepted
- Nov 3, 7:26 PM ET
- Size
- 9.8 KB