DING Jerry 4

What Happened
Jerry Ding, Chief People Officer of Yum China Holdings (YUMC), was granted a total of 76 derivative units on March 25, 2026. The filing reports five separate grant entries (2, 7, 8, 20 and 39 units) recorded as awards (code A) at $0.00 per unit. These are dividend-equivalent restricted stock units (RSUs) related to previously issued RSUs and will convert to common shares on a one-for-one basis.

Key Details

• Transaction date: 2026-03-25; Filing date: 2026-03-27 (filed within the typical 2-business-day Form 4 window).
• Reported consideration: $0.00 per unit (award/derivative units). Total units granted: 76.
• Shares owned after transaction: not specified in the information provided in this summary.
• Footnotes of note:
  • F1: Conversion occurs on a one-for-one basis (units → common shares).
  • F2 & F4: These units are dividend-equivalency RSUs tied to underlying RSUs; some vest 1/4 per year beginning one year from grant, others vest 1/3 per year beginning one year from grant.
  • F3: This grant does not have an expiration date.
• Transaction type: Award/grant of derivative units (not a purchase or sale).

Context
These are compensation-related awards (dividend-equivalent RSUs) that do not require a cash outlay by the insider and are not direct buy/sell activity. The units will vest on the same schedule as the underlying RSUs described in the footnotes and convert 1:1 to common shares when vested. Such grants are routine for employee compensation and do not by themselves indicate an insider trading signal.