ZHANG ZHIHUA 4
4 · VNET Group, Inc. · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
VNET SVP Zhang Zhihua Receives RSUs, Sells Shares for Taxes
What Happened
Zhang Zhihua, Senior Vice President, Operational Finance at VNET Group, had 42,996 restricted share units (RSUs) vest on May 15, 2026. Those RSUs were converted/recorded as the acquisition of 42,996 Class A ordinary shares in the form of American depositary shares (ADS) (reported at $0 as they were vested awards). To satisfy tax withholding obligations, Zhang sold 9,072 of those ADSs in an open-market sell-to-cover on May 18, 2026 at $1.69 per ADS, generating proceeds of $15,373.
Key Details
- Transaction dates & prices:
- 2026-05-15: 42,996 RSUs vested and were converted/recorded as acquired ADSs (reported price $0). (Footnote F2, F4)
- 2026-05-18: 9,072 ADSs sold @ $1.69 for $15,373 (sell-to-cover for tax withholding). (Footnote F3)
- Shares owned after transaction: Not specified in this filing.
- Notable footnotes:
- F1: Shares are reported in ADS form; each ADS represents six Class A ordinary shares (see filing footnote).
- F3: The sale was a sell-to-cover to satisfy tax liabilities from the RSU vesting.
- F4–F6: The filing documents the RSU grant/vesting. The vested 42,996 RSUs had no expiration (F5). The reporting person still holds 158,400 RSUs remaining, with 79,200 vesting on Oct 31, 2026 and another 79,200 on Oct 31, 2027 (F6).
- Filing timeliness: Report filed May 19, 2026 for a May 15 vesting/sale — filed within the typical two-business-day window (timely).
Context
This was primarily a routine vesting of RSUs and a related sell-to-cover to pay taxes, not an open-market investment decision. The filing records a conversion/exercise-type entry for the vested RSUs (derivative exercise/conversion at $0) and the subsequent partial disposition to satisfy withholding. Such transactions are common when equity awards vest and do not, by themselves, indicate the insider’s view on the company.
Insider Transaction Report
- Exercise/Conversion
Class A ordinary shares
[F1][F2]2026-05-15+42,996→ 42,996 total - Sale
Class A ordinary shares
[F3]2026-05-18$1.69/sh−9,072$15,373→ 33,924 total - Award
Restricted Share Units (RSUs)
[F4][F5][F1]2026-05-15+42,996→ 201,396 total→ Class A ordinary shares (42,996 underlying) - Exercise/Conversion
Restricted Share Units (RSUs)
[F2][F4][F5][F1][F6]2026-05-15−42,996→ 158,400 total→ Class A ordinary shares (42,996 underlying)
Footnotes (6)
- [F1]Represents Class A ordinary shares in the form of American depositary shares, each representing six Class A ordinary shares of the issuer.
- [F2]Represents 42,996 Class A ordinary shares in the form of American depositary shares acquired upon the vesting of the same number of RSUs on May 15, 2026.
- [F3]Represents 9072 Class A ordinary shares sold in the form of American depositary shares pursuant to a sell-to-cover arrangement for purposes of satisfying tax liabilities incurred upon vesting of restricted share units.
- [F4]Represents RSUs granted to the reporting person pursuant to the issuer's share incentive plans, of which 42,996 RSUs vested on May 15, 2026. Each RSU represents the contingent right to receive one (1) Class A ordinary share of the issuer upon vesting.
- [F5]These RSUs do not have an expiration date.
- [F6]For the remaining 158,400 RSUs granted to the reporting person pursuant to the issuer's share incentive plans, 79,200 RSUs will vest on October 31, 2026 and October 31, 2027, respectively. Each RSU represents the contingent right to receive one (1) Class A ordinary share of the issuer upon vesting.