Mu Yang 4

What Happened

• Director Mu Yang (Kanzhun Ltd, ticker BZ) had restricted share units (RSUs) vest and settle on March 30, 2026, converting into 40,000 ADS (each ADS = 2 Class A ordinary shares, so 80,000 underlying Class A shares). On the same date he sold 16,968 ADS in an open-market sell-to-cover at $6.69 per ADS, generating $113,521. The Form 4 shows derivative/settlement bookkeeping entries (exercise/conversion) related to the RSU settlement; one derivative line lists a $0.00 disposition indicating a non-cash settlement/transfer rather than a cash sale.

Key Details

• Transaction date: March 30, 2026. Form 4 filed April 1, 2026 (appears timely).
• Sale: 16,968 ADS sold at $6.69 each for proceeds of $113,521 (sell-to-cover to satisfy tax withholding).
• Award/settlement: 40,000 ADS acquired on RSU vesting (represents 80,000 Class A ordinary shares); related derivative entries reflect conversion/settlement mechanics.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Relevant footnotes: F1–F5 clarify ADS structure (1 ADS = 2 Class A shares), RSU vesting/settlement on March 30, 2026, and that the sale was a sell-to-cover for tax withholding.

Context

• Sell-to-cover transactions are routine tax-withholding actions when equity awards vest; they do not necessarily indicate a change in the insider’s view of the company. The filing shows an RSU settlement (award converted to ADS) followed by a partial sale to cover taxes rather than a market-driven liquidation of holdings.