LIU Pingping 4

What Happened

• Liu Pingping, Chief Legal Officer of Yum China Holdings, was granted a total of 67 derivative units (1 + 7 + 20 + 39) on 2026-03-25 as awards/awarded dividend-equivalent Restricted Stock Units (RSUs). Each unit was reported at $0.00 (no cash purchase); total reported value $0. These are derivative awards, not open-market purchases or sales.

Key Details

• Transaction date: 2026-03-25. Form 4 filed: 2026-03-27 (accession 0001673358-26-000063) — filed within the standard two business days.
• Reported amounts: 1, 7, 20 and 39 units (total 67 units); reported price $0.00; total cash value reported $0.
• Shares owned after transaction: not specified in the provided data.
• Footnotes:
  • F1: Units convert one-for-one into common shares.
  • F2/F4: These units are dividend-equivalent RSUs tied to previously issued RSUs and vest on the same schedule as those underlying RSUs (some vest 1/4 per year, others 1/3 per year).
  • F3: This grant has no expiration date.
• Transaction code: A = Award/Grant (derivative).

Context

• These awards are dividend-equivalent RSU units (derivatives) that will convert to common shares on a one-for-one basis and vest according to the schedules of the underlying RSUs. Such grants are part of executive compensation and are not the same as purchases or insider sales; they do not by themselves indicate a buy/sell signal.