Yan Huiping 4

What Happened Yan Huiping, Chief Financial Officer of ZTO Express (ZTO), was granted 15,248 restricted share units (RSUs) that vested in full on March 23, 2026 and were converted/exercised into 15,248 Class A ordinary shares the same day. The reported per-share price and total cash consideration for these transactions is $0. The Form 4 lists the award (transaction code A) and conversion/exercise of derivatives (transaction code M).

Key Details

• Transaction date(s): March 23, 2026 (reported on Form 4 filed March 24, 2026).
• Transactions reported: Award/grant of 15,248 RSUs (A) and conversion/exercise of derivatives into 15,248 shares (M); filing shows two M entries plus one A entry for the same share count.
• Price/consideration: $0.00 per share; total reported cash = $0.
• Shares owned after transaction: Not specified in the provided Form 4 excerpt.
• Footnotes: F1 — each unit represents one Class A ordinary share; F2 — the RSUs were granted on March 23, 2026 and vested in full on that date.
• Timeliness: Filing date (Mar 24, 2026) is within the normal Form 4 reporting window (appears timely).

Context This was an award/settlement event (RSU grant and immediate vesting/settlement), not an open-market purchase or sale. No proceeds or cash payments were reported, and the filing does not indicate any immediate sale of the shares. Such grant/vesting transactions reflect compensation or equity-based pay events and do not, by themselves, indicate management trading sentiment.