Wang Jingbo (Norah) 4
4 · NOAH HOLDINGS LTD · Filed May 29, 2026
Research Summary
AI-generated summary of this filing
NOAH (NOAH) 10% Owner Wang Jingbo Converts RSUs into 740 Shares
What Happened
- Wang Jingbo, a reported 10% owner of Noah Holdings Ltd., had 74 restricted stock units (RSUs) convert into 740 ordinary shares on May 29, 2026. The Form 4 shows the RSU derivative was reduced (74 units disposed at $0.00) and 740 shares were acquired (no purchase price reported).
- This was a vesting/settlement event (conversion of RSUs), not an open-market buy or sale, so it does not represent a cash purchase or a sale for proceeds.
Key Details
- Transaction date: 2026-05-29.
- Conversion: 74 RSUs → 740 ordinary shares (RSUs convert at 10 ordinary shares per unit; footnote F1).
- Price/Proceeds: No cash paid or received (disposition of RSU shown at $0.00).
- Ownership/Control: Wang is a 10% owner via Jing Investors Co., Ltd. and related entities (see footnote F2 for structure and voting/disposition power).
- Vesting schedule: The RSU award totaled 13,234 RSUs (each for 10 shares); 11,012 RSUs vested on 12/29/2023; remaining 2,222 RSUs vest monthly in 74-unit installments and the award will be fully vested on 6/29/2026 (footnote F3).
- Filing timeliness: Reported on the same date (2026-05-29); no late filing indicated.
Context
- This is a routine RSU vesting/settlement (derivative conversion) rather than a market purchase or sale—neither a bullish buy signal nor a monetized sale.
- The Form 4 shows both the derivative reduction (RSU disposal at $0) and the resulting share acquisition to reflect the conversion mechanics.
Insider Transaction Report
Form 4
Wang Jingbo (Norah)
Director10% Owner
Transactions
- Exercise/Conversion
ORDINARY SHARES
[F1][F2]2026-05-29+740→ 68,735,990 total(indirect: See Footnote) - Exercise/Conversion
RESTRICTED STOCK UNIT
[F1][F3][F2]2026-05-29−74→ 74 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|2026-05-29