Wang Jingbo (Norah) 4
4 · NOAH HOLDINGS LTD · Filed Jun 30, 2026
Research Summary
AI-generated summary of this filing
NOAH 10% Owner Wang Jingbo Exercises RSUs
What Happened
Wang Jingbo (reported as a 10% owner) reported the final vesting/conversion of restricted stock units (RSUs) on June 29, 2026. The Form 4 shows 765 ordinary shares acquired in the conversion and 76.5 shares reported as disposed at $0.00. The acquisition was not an open‑market purchase — it was the conversion/vesting of RSUs into ordinary shares.
Key Details
- Transaction date: 2026-06-29; Form filed 2026-06-30 (timely).
- Reported transactions: 765 shares acquired via derivative conversion (code M); 76.5 shares disposed at $0.00 (reported as derivative disposal).
- Price: acquisition listed as N/A (conversion/vesting); disposal price $0.00.
- RSU award background (footnotes): the award was 13,234 RSUs, each representing 10 ordinary shares (total award = right to 132,340 ordinary shares). 11,012 RSUs previously vested; the remaining RSUs vested in monthly installments and this filing reports the final installment. After this transaction, no RSUs under this award remain outstanding.
- Ownership/authority note (footnote): Shares are held by Jing Investors Co., Ltd., which is wholly owned through entities and a family trust for which Ms. Wang is settlor; Ms. Wang is sole director of Jing Investors and has power to vote and dispose of the shares held by that entity.
- Filing timeliness: filed the day after the vesting date (not marked late).
Context
- This was not a cash purchase or market sale — it reflects RSU vesting/conversion to ordinary shares. The small amount reported as disposed at $0.00 is recorded in the filing but the form’s footnotes indicate rounding in monthly installments; the disposal may reflect rounding/withholding mechanics reported as a derivative disposition.
- As a 10% owner (an ownership/control disclosure), this filing documents equity conversion and holdings via controlled entities rather than an independent open‑market trade.
Insider Transaction Report
Form 4
Wang Jingbo (Norah)
Director10% Owner
Transactions
- Exercise/Conversion
ORDINARY SHARES
[F1][F2]2026-06-29+765→ 68,736,755 total(indirect: See Footnote) - Exercise/Conversion
RESTRICTED STOCK UNIT
[F1][F3][F2]2026-06-29−76.5→ 0 total(indirect: See Footnote)→ ORDINARY SHARES (765 underlying)
Footnotes (3)
- [F1]Restricted stock units ("RSUs") convert into ordinary shares on the basis of ten ordinary shares per unit.
- [F2]By Jing Investors Co., Ltd., a British Virgin Islands company wholly owned by Magic Beams Enterprises Ltd., a British Virgin Islands company, which is in turn wholly owned by Ark Trust (Singapore) Ltd. as trustee of Norah Family Trust, with Ms. Jingbo Wang as settlor and Ms. Jingbo Wang and her family members as beneficiaries. Ms. Wang is the sole director of Jing Investors Co., Ltd. and as such has power to vote and dispose of the ordinary shares of the Issuer held by Jing Investors Co., Ltd.
- [F3]Represents an award of 13,234 RSUs, each representing the right to receive 10 ordinary shares. 11,012 RSUs vested on December 29, 2023. The remaining 2,222 RSUs vest in equal monthly installments of 74 RSUs at the end of each month, commencing January 29, 2024. The award will be fully vested on June 29, 2026. This Form 4 reports the final monthly vesting installment, upon which the award became fully vested. Monthly installments are subject to rounding; accordingly, the number of RSUs vesting in this final installment differs slightly from the unvested balance reported on the prior Form 4. Following this transaction, no RSUs under this award remain outstanding.
Signature
/s/ JINGBO WANG|2026-06-30