YIN ZHE 4

What Happened

• Zhe Yin, CEO of NOAH HOLDINGS LTD (NOAH), reported the final vesting installment of an RSU award on 2026-06-29. The filing shows 765 ordinary shares acquired via conversion of a derivative (RSU), and 76.5 shares disposed with $0.00 reported consideration. Following this transaction, no RSUs under this award remain outstanding.

Key Details

• Transaction date: 2026-06-29; Form 4 filed 2026-06-30 (timely filing).
• Reported transactions: code M (exercise/conversion of derivative). Acquired 765 shares (price N/A). Disposed 76.5 shares at $0.00 (no cash reported).
• Footnote highlights:
  • F1: Each RSU converts into 10 ordinary shares.
  • F3: Original award = 21,883 RSUs (each for 10 shares); most vested Dec 29, 2023; remaining RSUs vested monthly and the award became fully vested on June 29, 2026. This Form 4 reports the final monthly vesting installment; monthly rounding can cause small differences in reported share counts.
  • F2: Shares are held by Yin Investment Co., Ltd., a BVI company controlled via Ark Trust (Hong Kong) Ltd.; Mr. Zhe Yin is settlor and a beneficiary. Trustee has no power to dispose of the shares except by Mr. Yin’s written instruction (with limited exceptions).
• Shares owned after this award: filing states no RSUs under this award remain outstanding; the Form 4 does not provide total post-transaction share ownership.

Context

• This was a vesting/conversion of RSUs (a compensation award), not an open-market buy or sale. The filing reports a zero-dollar disposition of a portion of the shares; such zero-dollar disposals on vesting filings are commonly reported when shares are withheld for tax or administrative purposes, though the filing does not state the reason.