Wang Jingbo (Norah) 4

4 · NOAH HOLDINGS LTD · Filed Apr 30, 2026

AI-generated summary of this filing

Updated Apr 30, 2026

NOAH (NOAH) 10% Owner Wang Jingbo Converts RSUs to 740 Shares

What Happened

Wang Jingbo, a 10% owner of Noah Holdings Ltd., had 74 restricted stock units (RSUs) convert into 740 ordinary shares on April 29, 2026 (conversion ratio: 10 ordinary shares per RSU). On the same date, 74 ordinary shares were disposed of at $0.00—commonly used to satisfy tax withholding—resulting in a net increase of 666 shares from this vesting event. No cash proceeds were reported for the disposal.

Key Details

Transaction date: 2026-04-29; Form filed: 2026-04-30 (timely).
Acquired: 740 shares via RSU conversion (transaction code M — exercise/conversion of derivative); price N/A.
Disposed: 74 shares at $0.00 (reported as derivative disposition); total proceeds $0.
Net change from these entries: +666 shares.
Shares owned after transaction: not stated in the provided filing excerpt.
Relevant footnotes:
- F1: RSUs convert into ordinary shares at 10 ordinary shares per RSU.
- F2: Wang’s holdings are held through Jing Investors Co., Ltd., a BVI company controlled via family trust (she is the settlor and sole director).
- F3: The award totals 13,234 RSUs (each = 10 shares); 11,012 RSUs vested Dec 29, 2023; remaining RSUs vest monthly (74 RSUs/month) and the award fully vests on June 29, 2026.

Context

This was a routine vesting/conversion of RSUs rather than an open-market purchase or sale. The small number of shares surrendered at $0.00 is consistent with standard share-withholding to satisfy tax obligations on vested awards, not a market sale.
As a 10% owner via a controlled entity, Wang’s transactions reflect her ownership structure and compensation vesting rather than independent market trading decisions.

Form 4

Period: 2026-04-29

Director10% Owner

Transactions

Exercise/Conversion
ORDINARY SHARES
[F1][F2]
2026-04-29+740→ 68,735,250 total(indirect: See Footnote)
Exercise/Conversion
RESTRICTED STOCK UNIT
[F1][F3][F2]
2026-04-29−74→ 148 total(indirect: See Footnote)
→ ORDINARY SHARES (740 underlying)

Footnotes (3)

[F1]Restricted stock units ("RSUs") convert into ordinary shares on the basis of ten ordinary shares per unit.
[F2]By Jing Investors Co., Ltd., a British Virgin Islands company wholly owned by Magic Beams Enterprises Ltd., a British Virgin Islands company, which is in turn wholly owned by Ark Trust (Singapore) Ltd. as trustee of Norah Family Trust, with Ms. Jingbo Wang as settlor and Ms. Jingbo Wang and her family members as beneficiaries. Ms. Wang is the sole director of Jing Investors Co., Ltd. and as such has power to vote and dispose of the ordinary shares of the Issuer held by Jing Investors Co., Ltd.
[F3]Represents an award of 13,234 RSUs, each representing the right to receive 10 ordinary shares. 11,012 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.

Signature

/s/ JINGBO WANG|2026-04-30

1 file