WANG Xiehua 4

What Happened WANG Xiehua, a director of Kanzhun Ltd (BZ), had 150,000 restricted share units (RSUs) vest on June 16, 2026, which converted into Class A ordinary shares held through ADS. To satisfy tax withholding, 71,288 ADS were sold in an open‑market "sell‑to‑cover" transaction at a weighted average price of $6.82, producing proceeds of $486,206. The filing also reports the RSU conversion/exercise (derivative code M) related to the 150,000 shares (one RSU = one Class A share; ADS represent two Class A shares).

Key Details

• Transaction date: June 16, 2026; filing date: June 17, 2026 (filed next day).
• Sale: 71,288 ADS sold at a weighted average price of $6.82; prices ranged $6.805–$6.855; proceeds $486,206.
• Vesting/conversion: 150,000 RSUs vested and converted to shares (reported as derivative exercise/conversion).
• Reason for sale: Sell‑to‑cover to satisfy tax withholding on RSU settlement (footnote disclosure).
• Shares owned after transaction: Not specified in the filing.
• Codes/notes: M = derivative exercise/conversion; F1–F6 footnotes detail ADS representation, RSU mechanics, vesting date, and sell‑to‑cover.

Context This was not a discretionary open‑market sale for investment purposes but a routine sell‑to‑cover following RSU vesting. The filing shows RSU settlement and a partial sale to cover taxes (common practice); the reported $0 disposition entry for the derivative reflects settlement reporting rather than a market sale. No indication in the filing of a 10b5‑1 plan or late filing.