HUANG Duoduo (Howard) 4

What Happened
Howard (Duoduo) Huang, Yum China’s Chief Supply Chain Officer, was granted three derivative awards on March 25, 2026: 17, 34 and 61 units (total 112 units). Each award was reported at $0.00 (derivative awards/RSU-style units), so there was no cash purchase or sale. These units are dividend-equivalency Restricted Stock Units tied to previously issued RSUs and will convert one-for-one into common shares when they vest.

Key Details

• Transaction date: 2026-03-25; Filing date: 2026-03-27 (timely file).
• Grants: 17 units @ $0.00, 34 units @ $0.00, 61 units @ $0.00 (total 112 derivative units).
• Footnotes: F1 — conversion occurs one-for-one; F2 — these units are dividend-equivalency RSUs that vest on the same schedule as the underlying RSUs (vest 1/3 per year beginning one year from the grant date); F3 — grant has no expiration date.
• Shares owned after transaction: not disclosed in the provided excerpt.
• Transaction type code: A = Award/Grant (derivative RSU), not an open-market purchase or sale.

Context
These awards are non-cash, customary equity compensation (dividend-equivalency RSUs) and do not by themselves signal buying or selling in the market. Vesting is tied to previously issued RSUs (1/3 per year), so any eventual stock received will be subject to the stated vesting schedule.