YIN ZHE 4
4 · NOAH HOLDINGS LTD · Filed Mar 31, 2026
Research Summary
AI-generated summary of this filing
NOAH (NOAH) CEO Zhe Yin Converts RSUs into 200,740 Shares
What Happened
- Zhe Yin, CEO of NOAH Holdings Ltd., converted vested restricted stock units (RSUs) into ordinary shares on March 31, 2026. A total of 20,074 RSUs vested and were converted into 200,740 ordinary shares (10 ordinary shares per RSU). The conversion entries show the underlying shares acquired (740; 125,000; 75,000) and the corresponding derivative securities disposed (74; 12,500; 7,500 RSUs). No cash was exchanged in these conversions (acquisition price N/A / derivative disposition $0.00).
Key Details
- Transaction date: March 31, 2026.
- What converted: 74 RSUs → 740 shares; 12,500 RSUs → 125,000 shares; 7,500 RSUs → 75,000 shares. Total: 20,074 RSUs → 200,740 shares.
- Prices reported: acquired shares N/A (conversion); derivative dispositions reported at $0.00.
- Shares owned after transaction: not specified in the filing extract provided.
- Relevant footnotes:
- F1: Each RSU represents the right to receive 10 ordinary shares.
- F3–F5: These entries relate to three separate RSU awards with differing vest schedules (monthly and annual tranches); full vesting dates range from June 29, 2026 to March 31, 2028 for the referenced awards.
- F2: Some shares are held by Yin Investment Co. (BVI), controlled for trust purposes; the trustee requires Mr. Yin’s written instruction to dispose of those shares in most cases.
- Timeliness: Reported with the same period date (Mar 31, 2026); filing appears timely.
Context
- These transactions are conversions/vestings of RSUs (derivative-to-underlying conversion), not open-market purchases or sales. The filing shows the derivative securities were converted into ordinary shares (code M), which is typically a neutral event reflecting compensation vesting rather than an insider market trade.
- For retail investors: vested RSUs increase insider-held shares but do not necessarily indicate buying or selling intent. The filing documents the mechanics (RSU conversion at 10 shares per unit) and vesting schedule; it does not assign market value or indicate a sale of the newly acquired shares.
Insider Transaction Report
Form 4
YIN ZHE
DirectorCHIEF EXECUTIVE OFFICER
Transactions
- Exercise/Conversion
ORDINARY SHARES
[F1][F2]2026-03-31+740→ 17,003,090 total(indirect: See Footnote) - Exercise/Conversion
ORDINARY SHARES
[F1][F2]2026-03-31+125,000→ 17,128,090 total(indirect: See Footnote) - Exercise/Conversion
ORDINARY SHARES
[F1][F2]2026-03-31+75,000→ 17,203,090 total(indirect: See Footnote) - Exercise/Conversion
RESTRICTED STOCK UNIT
[F1][F3][F2]2026-03-31−74→ 222 total(indirect: See Footnote)→ ORDINARY SHARES (740 underlying) - Exercise/Conversion
RESTRICTED STOCK UNIT
[F1][F4][F2]2026-03-31−12,500→ 12,500 total(indirect: See Footnote)→ ORDINARY SHARES (125,000 underlying) - Exercise/Conversion
RESTRICTED STOCK UNIT
[F1][F5][F2]2026-03-31−7,500→ 15,000 total(indirect: See Footnote)→ ORDINARY SHARES (75,000 underlying)
Footnotes (5)
- [F1]Restricted stock units ("RSUs") convert into ordinary shares on the basis of ten ordinary shares per unit.
- [F2]By Yin Investment Co., Ltd., a British Virgin Islands company controlled by Ark Trust (Hong Kong) Limited as trustee of Safe Harbor Trust, with Mr. Zhe Yin as settlor and Mr. Zhe Yin and his family members as beneficiaries. Ark Trust (Hong Kong) Limited as trustee of Safe Harbor Trust has no power to dispose of the ordinary shares held by Yin Investment Co., Ltd. except upon written instruction by Mr. Zhe Yin, except in certain limited situations.
- [F3]Represents an award of 21,883 RSUs, each representing the right to receive 10 ordinary shares. 19,661 RSUs vested on December 29, 2023. The remaining 2,222 RSUs vest in equal monthly installments of 74 RSUs at the end of each month, commencing January 29, 2024. The award will be fully vested on June 29, 2026.
- [F4]Represents an award of 50,000 RSUs, each representing the right to receive 10 ordinary shares. 12,500 RSUs vested on June 12, 2024. The remaining 37,500 RSUs vest in equal annual installments of 12,500 RSUs on March 29 of each year thereafter, commencing March 29, 2025. The award will be fully vested on March 29, 2027.
- [F5]Represents an award of 30,000 RSUs, each representing the right to receive 10 ordinary shares. 7,500 RSUs vested on March 31, 2025. The remaining 22,500 RSUs vest in equal annual installments of 7,500 RSUs on March 31 of each year thereafter, commencing March 31, 2026. The award will be fully vested on March 31, 2028.
Signature
/s/ ZHE YIN|2026-03-31