Chen Xu 4

What Happened

• Chen Xu, President and Director of Kanzhun Ltd (ticker BZ), received 932,434 Class A ordinary shares upon the settlement/vesting of restricted share units (RSUs). The filing reports these shares were received in the form of American Depositary Shares (ADS).
• In connection with the RSU settlement, 84 ADS were sold in a sell-to-cover transaction at $6.83 each for proceeds of $573 to cover tax withholding. The Form 4 also reports exercise/conversion (transaction code M) entries for 370 shares (reported with no cash consideration) associated with the same settlement mechanics.

Key Details

• Transaction dates: RSU grant dated June 15, 2026; RSUs noted as vesting/settling on June 16, 2026; sales/exercise activity reported on June 16, 2026. Form 4 filed June 17, 2026.
• Prices/values reported: 84 shares sold at $6.83 for $573. The RSU award and derivative conversions were reported with $0 cash consideration (typical for settlement mechanics).
• ADS note: Each ADS represents two Class A ordinary shares (per filing footnote).
• Tax withholding: The 84-share sale was a sell-to-cover to satisfy tax withholding obligations related to RSU vesting.
• Vesting terms: The award was granted on June 15, 2026 and the filing states RSUs generally vest in equal portions over four years on each anniversary; the filing also notes a vesting/settlement event on June 16, 2026.
• Shares owned after transaction: Not specified in the provided summary of the filing.
• Timeliness: Form 4 was filed on 2026-06-17 for transactions on 2026-06-15/16; no late filing indication in the provided data.

Context

• These entries reflect an RSU settlement with routine sell-to-cover tax withholding; sell-to-cover sales are common and not necessarily a bearish signal.
• Transaction code M denotes exercise or conversion of a derivative security — here reported with no cash consideration, indicating conversion/settlement mechanics rather than an independent cash exercise-and-sell trade.