Ding Adrian 4

What Happened

• Adrian Ding, Chief Financial Officer of Yum China (YUMC), converted/ exercised 3,733 derivative awards into common shares on 2026-02-10. Of those, 1,681 shares were withheld to cover tax liability at a reported price of $57.12/share, totaling $96,019. The conversion lines show a $0.00 exercise/conversion price, resulting in a net increase of 2,052 shares retained by Ding after withholding.

Key Details

• Transaction date: 2026-02-10; filing date: 2026-02-12 (filed within the two-business-day Form 4 window).
• Conversion/exercise price reported: $0.00 (conversion/vesting of derivative awards).
• Withheld shares for taxes: 1,681 shares at $57.12 = $96,019 (reported as payment of tax liability).
• Shares acquired via conversion: 3,733 (580 + 3,153); net shares retained after withholding: 2,052.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Relevant footnotes: F1 (one-for-one conversion), F2 and F4 (vesting schedules: 25% per year from 2/10/2022; 1/3 per year from 2/10/2025), F3 (one grant has no expiration date).
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (share withholding).

Context

• This appears to be a routine conversion/vesting event with shares withheld to satisfy tax obligations (a common "sell-to-cover" or withholding practice), not an open-market sale. Such withholding reduces the number of new shares the insider retains but is standard following vesting or exercise. The filing was timely, and the activity should be viewed as an administrative tax/vesting action rather than an explicit buy or sell decision signaling sentiment.