Chen Derek 4

What Happened Derek Chen, a director of Zhihu Inc. (ZH), received a grant of 135,468 restricted share units (RSUs). The reported acquisition price was $0.01 per RSU for a total reported value of $1,355. This was a grant/award (derivative) rather than an open-market purchase or sale.

Key Details

• Transaction reported as an award (code A) with an acquisition date shown as 2026-06-05; grant date per footnote is June 3, 2026.
• Amount: 135,468 RSUs at $0.01 each; total reported value $1,355 (derivative).
• Vesting: 25% of the RSUs vest on each of the first, second, third and fourth anniversaries of the June 3, 2026 grant, subject to continued service on the Board. (Footnote)
• Each RSU represents a contingent right to receive one Class A ordinary share upon vesting. (Footnote)
• Shares owned after the transaction are not specified in this filing.
• Filing date: 2026-06-12. The Form 4 was filed more than two business days after the reported acquisition date (appears late under typical Section 16 timing requirements).

Context This was an equity award (RSUs) to a director, not a market purchase or sale. RSUs are contingent and convert to actual shares only as they vest and the service conditions are met, so this grant does not immediately increase tradable float. The reported dollar value is modest because the filing records the grant at a nominal per-unit price; the economic value will depend on Zhihu's share price at each vesting date.