Yum China CPO Jerry Ding Exercises Options, Sells Shares for Taxes

What Happened

• Jerry Ding, Chief People Officer of Yum China (YUMC), converted 1,318 derivative awards into common shares (transaction code M) on Sep 1, 2026. To cover tax liability (transaction code F), 594 of those shares were withheld/disposed at $44.88 each, generating $26,659. The conversion was reported on Form 4 filed Sep 3, 2026.

Key Details

• Transaction date: 2026-09-01; conversion: 1,318 shares @ $0.00 (code M); tax withholding: 594 shares @ $44.88 = $26,659 (code F).
• Shares owned after the transaction: not specified in the provided excerpt.
• Footnotes: F1 = conversion occurs one-for-one; F2 = vesting 1/3 per year beginning 09/01/2023; F3 = grant has no expiration date.
• Filing: Form 4 recorded on 2026-09-03 (appears timely relative to a Sep 1 transaction).

Context

• This was a conversion/exercise of derivative awards (likely vested RSUs/options) with a portion surrendered/withheld to satisfy tax withholding — a common administrative step, not necessarily a market sentiment signal.
• Code summary: M = exercise/conversion of a derivative; F = payment of exercise price or tax liability (here used for share withholding).