Ni Hope 4

What Happened

• Ni Hope, a director of Zhihu Inc. (ZH), had 33,867 restricted share units (RSUs) vest on May 27, 2026 and the RSUs were converted/exercised into 33,867 Class A ordinary shares at $0.01 per share, a total reported value of $339. This was a vesting/settlement of compensation—not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-05-27; Filing date: 2026-06-12.
• Transaction codes shown: A (award/acquisition via RSU vesting) and M (exercise/conversion of a derivative).
• Price/value: $0.01 per share; total $339.
• Footnotes: F1 — these 33,867 RSUs vested out of an original grant of 135,468 RSUs (vesting 25% each anniversary, subject to continued board service). F2 — each RSU = right to one Class A ordinary share.
• Shares owned after the transaction: not stated in this filing.
• No sale reported and no tax withholding or cashless sale noted in the reported lines.

Context

• This is a routine director compensation vesting event (limited economic impact here at ~$339). Such vesting events are common and do not necessarily indicate the director’s market view. Note the Form 4 was filed 16 days after the transaction date; Form 4s are normally due within two business days of the change, so the filing appears untimely.