Wang Jingbo (Norah) 4

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.