A Form 4 filed on September 21, 2026 reports that Lu Xueling, Controller and Principal Accounting Officer of Yum China Holdings, Inc. (NYSE:YUMC), acquired restricted stock units on September 17, 2026 as dividend equivalency payments on previously issued restricted stock units.

Key Highlights

  • Reporting person: Lu Xueling, identified as Controller and PAO of Yum China Holdings, Inc.
  • Three RSU acquisitions: 10 units, 17 units, and 27 units were acquired on September 17, 2026, all at a price of $0.
  • Nature of grants: The units represent dividend equivalency payments on previously issued restricted stock units, according to the filing.
  • Vesting terms: The filing states these units vest on the same date and under the same terms as the underlying restricted stock units, which vest 1/3 per year beginning one year from the original grant date.
  • Resulting ownership: Following the transactions, Lu Xueling beneficially owned 1,470, 2,536, and 3,957 restricted stock units respectively, all held directly.
  • No expiration date: According to the filing, these grants do not have an expiration date.

Lu Xueling's RSU Dividend Equivalency Awards at Yum China Holdings

According to the Form 4 filed with the SEC, Lu Xueling, serving as Controller and Principal Accounting Officer of Yum China Holdings, Inc., reported three separate acquisitions of restricted stock units on September 17, 2026. Each acquisition carries a transaction code of "A" (acquired) and was recorded at a price of $0. The three tranches consist of 10, 17, and 27 restricted stock units, respectively, each convertible into common stock on a one-for-one basis.

The filing explains that these units represent restricted stock units issuable as dividend equivalency payments with respect to restricted stock units previously issued to the reporting person. The underlying restricted stock units vest at a rate of 1/3 per year beginning one year from the original grant date. The newly reported dividend equivalency units are stated to vest on the same date and under the same terms as the underlying restricted stock units to which they correspond. No expiration date applies to these grants.

Following the reported transactions, the filing discloses that Lu Xueling's total beneficial ownership stands at 1,470 restricted stock units, 2,536 restricted stock units, and 3,957 restricted stock units across the three respective grant lines, all held directly. The Form 4 was signed by Pingping Liu acting under a power of attorney and was filed on September 21, 2026.

What Was Disclosed

Yum China Holdings, Inc. (NYSE:YUMC) officer Lu Xueling acquired a combined 54 restricted stock units on September 17, 2026, in three tranches, as dividend equivalency payments tied to previously granted restricted stock units, with total beneficial ownership reported across three RSU positions.