Amado Rafael 4

What Happened

Rafael Amado, President and Head of Global Oncology R&D at Zai Lab (ZLAB), had derivative awards convert/vest into American Depositary Shares (ADSs) in early April and sold 9,910 ADSs in an open-market transaction on April 2, 2026 for $20.39 each, totaling $202,065. In connection with vesting/conversion events around April 1–2, 2026, Amado had conversions/exercises of 19,523 ADSs (4/1) and 5,391 ADSs (4/2); some vested ADSs were sold or withheld to cover taxes. The filing also reports the confirmation on March 4, 2026 of 14,905 performance-based share units (PSUs) that remain subject to future vesting (see footnote).

Key Details

• Primary open-market sale: 9,910 ADSs on 2026-04-02 at $20.39 each, proceeds $202,065.
• Derivative conversions/exercises: 19,523 ADSs (2026-04-01) and 5,391 ADSs (2026-04-02) reported as exercised/converted.
• Award reported: 14,905 PSUs confirmed 2026-03-04 (PSUs vest in full on 2028-03-12, subject to continued service; these are contingent/derivative awards).
• Tax withholding/automatic sale: some ADSs were sold automatically to cover taxes upon RSU vesting (footnote F4).
• ADS note: each ADS represents ten ordinary shares (footnote F1); filing reports ADSs.
• Filing date: 2026-04-03. Transactions occurred 2026-04-01 to 04-02 — filing appears timely (within the typical Form 4 reporting window).

Context

• These transactions reflect award vesting/conversion and routine tax-withholding and an open-market sale; the convertible/derivative entries represent RSU/PSU conversions rather than a separate cash purchase.
• The PSUs confirmed on March 4, 2026 (14,905 ADSs) do not vest until March 12, 2028 (subject to service), so that grant is a future contingent award, not immediate share delivery.
• Sales to cover taxes and occasional open-market disposals are common and do not necessarily indicate an executive’s view on company prospects.