YIN ZHE 4

What Happened

• Zhe Yin, CEO of NOAH Holdings Ltd. (NOAH), had 74 restricted stock units (RSUs) vest on April 29, 2026. Those RSUs converted into 740 ordinary shares (10 ordinary shares per RSU) and were recorded as acquired (transaction code M — exercise/conversion of a derivative).
• The same filing also shows a separate disposition of 74 shares on April 29, 2026 at a $0.00 price (also recorded under code M). The acquisition line lists price as N/A (no cash paid for conversion); the disposal shows $0.00 and $0 total.

Key Details

• Transaction date: 2026-04-29 (filed 2026-04-30 — timely).
• Acquired: 740 ordinary shares via conversion of 74 RSUs (10 shares per RSU). Price: N/A (conversion of grant).
• Disposed: 74 shares at $0.00 (amount $0); filing does not specify the reason for this zero-price disposition.
• Footnotes: F1 — RSUs convert into ordinary shares at 10 ordinary shares per unit. F3 — this award originally totaled 21,883 RSUs; 19,661 vested Dec 29, 2023; remaining RSUs vest in monthly installments of 74 RSUs and will be fully vested June 29, 2026.
• Shares owned after transaction: not specified in the provided filing.
• Filing timeliness: Reported the next day (not late).

Context

• This was a standard vesting/conversion of RSUs (derivative conversion), not an open-market purchase or option cash exercise. No cash was reported paid to acquire the 740 shares.
• Zero-price dispositions in RSU/stock vesting filings commonly reflect share withholding or surrender to cover taxes or fees, though the filing itself does not state the reason.