Wang Warton 4

What Happened

• Wang Warton, General Manager of KFC at Yum China (YUMC), had a recent grant and conversion of derivative awards. On 2026-02-06 he received a grant of 20,708 derivative shares (award). On 2026-02-08 he converted/exercised 6,047 derivative units into common shares. As part of the transaction, 2,722 shares were withheld to satisfy tax withholding at $57.95 per share, totaling $157,740. The filing shows the conversion on a one-for-one basis and includes a derivative disposition line for 6,047 shares (reported at $0).

Key Details

• Grant: 20,708 derivative shares granted 2026-02-06 (reported as acquired @ $0).
• Conversion/Exercise: 6,047 derivative units converted on 2026-02-08 (reported @ $0).
• Tax withholding: 2,722 shares withheld/disposed on 2026-02-08 at $57.95 = $157,740 (code F).
• Additional line shows 6,047 shares disposed as a derivative transaction (reported @ $0) on 2026-02-08.
• Footnotes: conversion is one-for-one (F1); the 2/6/2026 grant vests 1/3 per year starting 2/6/2026 (F2); that grant has no expiration (F3); another award vests 1/3 per year beginning 2/8/2024 (F4).
• Shares owned after the transactions are not specified in the provided summary.
• Filing date: 2026-02-10 (appears timely; no late filing indicator shown).

Context

• This appears to be a conversion/settlement of derivative awards (exercise/conversion) with shares withheld to cover tax obligations — a common, routine, cashless-like settlement rather than an open-market sale of additional shares. The new 20,708-share award is subject to multi-year vesting, so most of it remains unvested.