Wat Joey 4

What Happened

• Joey Wat, Chief Executive Officer of Yum China Holdings, received three derivative awards on 2026-06-17 totaling 1,359 units (299, 479 and 581). Each award was reported as a grant/acquisition at $0.00 per unit (derivative/RSU-style award), so reported cash value for the transaction is $0.
• These are dividend-equivalent units tied to previously issued Restricted Stock Units (RSUs) rather than open-market purchases or sales. This is a compensation/award event, not a stock purchase or sale.

Key Details

• Transaction date: 2026-06-17; Form 4 filed: 2026-06-22 (filed five days after the transaction — outside the typical two-business-day reporting window).
• Grants: 299, 479, and 581 units (total 1,359 units); price reported: $0.00 per unit; security type: derivative (RSU-like).
• Shares owned after the transaction: not specified in the items provided in this summary.
• Notable footnotes from the filing:
  • F2: These units are dividend-equivalent RSUs that will be issuable in respect of underlying RSUs and shall vest on the same dates and terms as those underlying RSUs (vesting 1/3 per year beginning one year from the grant date).
  • F1: Conversion occurs on a one-for-one basis to underlying shares.
  • F3: The grant does not have an expiration date.

Context

• These awards are compensation-related (dividend-equivalent RSUs) and are routine for executives; they do not represent a market purchase or sale and therefore are not a direct buy/sell signal.
• For retail investors, purchases (open-market buys) are often considered more informative about insider sentiment than routine compensation grants. This filing mainly documents executive compensation mechanics and vesting terms.