Wang Warton 4

What Happened Wang Warton, General Manager of KFC at Yum China (YUMC), converted 3,729 derivative units into common shares on 2026-02-09. To cover tax withholding, 1,679 of those shares were surrendered/withheld at $57.50 per share, a tax liability of about $96,543. Net shares retained by Wang after the withholding were 2,050 (3,729 converted minus 1,679 withheld). This transaction reflects a conversion/vesting event rather than an open-market purchase or a voluntary sale.

Key Details

• Transaction date: 2026-02-09; filing date: 2026-02-11 (timely).
• Conversion: 3,729 derivative units converted one-for-one into shares (code M).
• Tax withholding: 1,679 shares disposed to satisfy taxes at $57.50 each = $96,543 (code F).
• Net shares added to holdings: 2,050 shares (3,729 − 1,679).
• Shares owned after transaction: not specified in the filing.
• Relevant footnotes:
  • F1: Conversion occurs on a one-for-one basis.
  • F2: Vesting schedule: 1/3 per year beginning one year from 2/9/2023.
  • F3: This grant does not have an expiration date.
• No indication of a 10b5-1 plan or a late filing in this report.

Context This appears to be a routine equity conversion/vesting event (derivative conversion to shares) with share withholding used to pay taxes — commonly called a cashless exercise or tax withholding. Such withholding disposals are standard administrative actions and do not necessarily signal a directional view by the insider.