Tencent Music (TME) VP Pan Tsai‑Chun Exercises Options

What Happened

• Pan Tsai‑Chun, Group Vice President of Tencent Music Entertainment Group (TME), exercised stock options on September 29, 2026, acquiring 155,320 American Depositary Shares (ADSs) at an exercise price of $3.86 per ADS for a total cash outlay of $599,535. The filing also shows the related derivative (the exercised option) was disposed/converted as part of the exercise (transaction code M).

Key Details

• Transaction date: 2026-09-29 (filed 2026-09-30; timely filing).
• Shares acquired: 155,320 ADSs at $3.86 each; total = $599,535.
• Derivative disposition: the exercised options (155,320) were reported as disposed/converted (this reflects conversion of the option into ADSs, not a sale of the ADSs).
• ADS conversion: each ADS represents 2 Class A ordinary shares, so the exercise corresponds to 310,640 underlying Class A ordinary shares.
• Option origin & vesting: options were granted in March 2022, subject to performance criteria; options for these 155,320 ADSs vested after the criteria were met (per filing).
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context

• This was an exercise of vested stock options (a purchase of ADSs by paying the exercise price), not a public sale of shares. Exercises are often routine when options vest; they increase the insider’s direct ownership but do not by themselves indicate intent to buy/sell in the open market.
• Codes: M = exercise/conversion of derivative. No 10b5‑1 plan, tax withholding sale, or late filing was indicated in the excerpt.