Lai Jianchang 4

What Happened Lai Jianchang, Vice President of Overseas Operations at ZTO Express (ZTO), received a grant of 9,621 restricted share units (RSUs) that vested on March 23, 2026 and converted into 9,621 Class A ordinary shares. The Form 4 lists grant/award and exercise/conversion entries for 9,621 shares at $0.00 per share, indicating the shares were issued upon vesting rather than purchased.

Key Details

• Transaction date(s): March 23, 2026 (reported on Form 4 filed March 24, 2026).
• Transaction types: Grant/Award (A) and Exercise/Conversion of derivative (M) — RSUs granted and vested the same day.
• Shares acquired: 9,621 Class A ordinary shares.
• Price paid: $0.00 per share (shares issued on vesting/exercise).
• Shares owned after transaction: Not specified in this filing.
• Footnotes: F1 — each unit = one Class A ordinary share; F2 — the RSUs were granted and vested in full on March 23, 2026.
• Filing timeliness: Report filed March 24, 2026 (within the usual Form 4 reporting window).

Context This was not an open-market purchase or sale but the vesting and conversion of an RSU award into shares, a common form of employee compensation. Such awards reflect compensation realization rather than a buying/selling signal; they do not by themselves indicate the insider’s view on the company’s stock.