YIN ZHE 4

What Happened

• Zhe Yin, CEO of NOAH Holdings Ltd., reported the conversion/exercise of RSUs on May 29, 2026. 74 restricted stock units (RSUs) vested and converted into 740 ordinary shares (RSUs convert at 10 ordinary shares per unit). The filing also shows 74 RSUs reported as disposed at $0.00 to cover tax withholding (reported as a derivative disposition), so no cash proceeds were received. This was a vesting/conversion event (compensation-related), not an open-market purchase or sale.

Key Details

• Transaction date: May 29, 2026. Transaction code: M (exercise/conversion of derivative).
• Acquired: 740 ordinary shares from conversion of 74 RSUs (10-for-1 conversion).
• Disposed/withheld: 74 RSUs (reported as a $0.00 disposition) to satisfy tax withholding — filing shows no cash proceeds.
• Price: acquisition price shown as N/A; withholding disposition reported at $0.00.
• Shares owned after transaction: not specified in this Form 4.
• Relevant footnotes:
  • F1: RSUs convert into ordinary shares at ten ordinary shares per unit.
  • F3: The award originally was 21,883 RSUs; 19,661 vested earlier and the remaining 2,222 vest monthly (74 RSUs/month), with full vesting on June 29, 2026.
  • F2: Shares are held through Yin Investment Co. (BVI) controlled by a trust with Mr. Yin as settlor/beneficiary; trustee generally needs Mr. Yin's written instruction to dispose.
• Filing timeliness: reported on the same day (May 29, 2026).

Context

• This was a routine compensation vesting / RSU conversion. The reported withholding is common to cover taxes and was not a market sale for cash (no proceeds reported). For retail investors, vesting/RSU conversions typically reflect scheduled compensation rather than a direct signal of insider buying or selling intent.