Ding Adrian 4
4 · Yum China Holdings, Inc. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
Yum China (YUMC) CFO Adrian Ding Exercises Options, 2,423 Shares Withheld
What Happened
Adrian Ding, Chief Financial Officer of Yum China (YUMC), exercised/converted a total of 5,382 derivative awards (2,009 + 3,373) on 2026-02-09 at an exercise/conversion price of $0.00. To cover tax obligations, 2,423 of the resulting shares were withheld/disposed at $57.50 per share, totaling approximately $139,323. The filing shows the derivative instruments were cancelled/converted upon exercise.
Key Details
- Transaction date: 2026-02-09 (reported in Form 4 filed 2026-02-11). No late filing indicated in the filing data provided.
- Converted/exercised: 5,382 derivative units (2,009 and 3,373) at $0.00 each (one-for-one conversion per footnote F1).
- Shares withheld for tax: 2,423 shares at $57.50/share → ~$139,323 (transaction code F = tax withholding).
- Other disposals: The conversion shows the derivative items were marked disposed ($0) as they were converted into common shares (transaction code M).
- Footnotes of note: F2/F4 describe vesting schedules (pro rata vesting starting 1 year after 2/9/2023 and staged vesting at 2nd/3rd anniversaries); F3 notes the grant has no expiration date.
- Shares owned after transaction: not specified in the provided filing details.
Context
This appears to be a routine exercise/conversion and tax-withholding event tied to previously granted equity awards, not an open-market sale. Withholding shares to cover taxes is common and does not necessarily indicate a bullish or bearish signal by the insider.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-09+2,009→ 49,396 total - Exercise/Conversion
Common Stock
[F1]2026-02-09+3,373→ 52,769 total - Tax Payment
Common Stock
2026-02-09$57.50/sh−2,423$139,323→ 50,346 total - Exercise/Conversion
Restricted Stock Unit
[F1][F2][F3]2026-02-09−2,009→ 0 total→ Common Stock (2,009 underlying) - Exercise/Conversion
Restricted Stock Unit
[F1][F4][F3]2026-02-09−3,373→ 0 total→ Common Stock (3,373 underlying)
Footnotes (4)
- [F1]Conversion occurs on a one-for-one basis.
- [F2]Vesting occurs 1/3 per year beginning one year from 2/9/2023.
- [F3]This grant does not have an expiration date.
- [F4]Vesting occurs 50% on the second anniversary of 2/9/2023 and the remaining 50% vesting occurs on the third anniversary of 2/9/2023.