Yum China shareholders approve 2022 LTIP and HKEX primary conversion; effective Oct 24

Yum China Holdings, Inc.

Special meeting on Oct 11 approved issuance authority up to 20% of outstanding shares and repurchase authority up to 10%.
2022 Long Term Incentive Plan approved, replacing 2016 LTIP; authorized up to 31M shares or 10% of outstanding.
Primary conversion of HKEX listing from secondary to primary expected effective Oct 24, 2022.
2022 LTIP uses fungible share counting: Full Value Awards count 2:1, stock options/SARs 1:1 against reserve.
Votes: 2022 LTIP received 292.8M for, 20.7M against; repurchase authority 312.0M for, 1.5M against.

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