Du Ying 4

What Happened
Du Ying, Chairperson and CEO of Zai Lab Ltd (ZLAB), exercised stock derivatives on 2026-03-10 to acquire 261,092 American Depositary Shares (ADSs) at $1.74 each (total cash paid ≈ $454,300). In connection with vesting/exercise, 116,936 ADSs were sold automatically to cover tax liabilities at $19.41 each (proceeds ≈ $2,269,728). An additional 2,655 ADSs were acquired on vesting of RSUs. On 2026-03-11 Du Ying sold 1,067 ADSs in an open-market sale at $19.08 each (≈ $20,363). The filing shows both acquisition (exercise/vesting) and routine dispositions (tax withholding and a 10b5-1 sale).

Key Details

• Primary dates: 2026-03-10 (exercise/vesting and tax withholding), 2026-03-11 (open-market sale). Filing date: 2026-03-12 (appears timely).
• Exercise: 261,092 ADSs @ $1.74 = $454,300 (acquired).
• RSU vesting: 2,655 ADSs acquired (no per-share price reported).
• Tax withholding (automatic sale): 116,936 ADSs @ $19.41 = $2,269,728 (disposed).
• Open-market sale under a Rule 10b5-1 plan: 1,067 ADSs @ $19.08 = $20,363 (disposed).
• Footnotes: ADSs reported (1 ADS = 10 ordinary shares); RSUs represent a right to receive one ADS; tax-related ADS sales were automatic to cover withholding; the open-market sale was effected under a 10b5-1 trading plan adopted 11/11/2025.
• Shares owned after these transactions are not stated in the supplied summary of the filing.

Context

• The transactions combine an option/derivative exercise and RSU vesting (acquisitions) with routine dispositions: automatic sales to cover taxes and an open-market sale under a pre-established 10b5-1 plan. Automatic withholding to satisfy tax obligations is common and does not necessarily signal a change in insider sentiment.
• The exercise converted options/derivatives into ADSs (some derivative-line items show conversion at $0, reflecting transfer from derivative to underlying shares rather than a market sale).