Zai Lab (ZLAB) CFO Chen Yajing Exercises RSUs; Shares Withheld for Taxes

What Happened
Chen Yajing, Chief Financial Officer of Zai Lab Ltd (ZLAB), had Restricted Share Units (RSUs) vest on August 14, 2026, resulting in the conversion/issuance of 1,250 American Depositary Shares (ADSs). Of those ADSs, 427 were withheld to cover tax withholding obligations at $25.90 per ADS, resulting in a withholding value of $11,059. The filing shows the RSU conversion recorded as derivative exercise entries (code M) and the tax withholding as a disposition (code F).

Key Details

• Transaction date: 2026-08-14; Form 4 filed: 2026-08-18.
• Shares issued on vesting: 1,250 ADSs (reported under exercise/conversion of derivative).
• Shares withheld for taxes: 427 ADSs at $25.90 each; total withholding value reported $11,059.
• Footnotes: Each ADS represents 10 ordinary shares (ADSs and ordinary shares are fungible). RSUs represent a contingent right to receive one ADS; these ADSs were withheld to cover taxes. RSUs vest in equal annual installments over four years beginning 08/14/2024.
• Post-transaction beneficial ownership: Not specified in the provided excerpt of the filing.
• Transaction codes: M = exercise/conversion of derivative (RSU conversion); F = tax withholding.

Context
This was a routine vesting of previously granted RSUs rather than an open-market buy or sell. The withholding of shares to satisfy taxes is standard for RSU vesting (a cashless tax withholding). The filing documents the issuance/conversion and tax withholding; it does not by itself indicate any change in the officer’s broader buying/selling sentiment.