Chen Xu 4

What Happened
Chen Xu, President and a director of Kanzhun Ltd (BZ), had 4,702 Class A ordinary shares vest on March 20, 2026. The filing reports an exercise/conversion of derivative securities (RSUs) resulting in acquisition of 4,702 Class A shares, received in the form of American Depositary Shares (ADS). A matching disposition is reported at $0.00, indicating this was a conversion/transfer rather than a market sale.

Key Details

• Transaction date: March 20, 2026 (filed March 24, 2026). Filing appears timely.
• Reported transactions: Exercise/conversion of derivative (code M) — 4,702 Class A ordinary shares acquired; corresponding disposition of 4,702 shares at $0.00.
• Price/Value: No cash paid or received in the disposition (reported $0.00); acquisition was the vesting of RSUs (no purchase price).
• ADS conversion: Footnotes state the Class A shares were received in the form of ADS; each ADS represents two Class A ordinary shares — 4,702 Class A shares = 2,351 ADS.
• Employee trust: Shares are held by KZBZ Limited via Maples Trustee Services (Cayman) Limited as trustee of an employee shareholding trust for employees including Mr. Chen (footnote).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnotes of note: RSUs vested on March 20, 2026 (F2, F4, F5); holdings are through ADS and an employee trust (F1, F3).

Context
This was a vesting/conversion of restricted share units into equity (ADS/Class A shares), not a public sale — the $0.00 disposition reflects a transfer/conversion or placement into the employee trust rather than proceeds from a market sale. Such vesting events are typical compensation-related transactions and should not be read as an immediate market-sale signal.