Ye Changqing 4

What Happened Ye Changqing, a director of Baozun Inc. (BZUN), exercised/converted vested restricted stock units (RSUs) on June 30, 2026. The filing shows 51,809 RSUs were converted (disposed as the derivative) and 17,269 American Depositary Shares (ADS) were acquired. The conversion/exercise price is reported as $0.00, so no cash was paid on conversion and no sale proceeds are reported.

Key Details

• Transaction date: 2026-06-30; Form 4 filed 2026-07-02 (appears timely within required reporting window).
• Transaction code: M (exercise or conversion of a derivative).
• RSUs and ADS: Of a total 93,809 RSUs, 51,809 RSUs fully vested and were converted into 17,269 ADS on June 30, 2026 (Footnotes F2, F3).
• ADS ratio: 1 ADS = 3 Class A ordinary shares (Footnote F1).
• Price/value: Exercise/conversion price $0.00; filing reports $0 cash paid and no sale proceeds.
• Shares owned after transaction: Not specified in the provided filing.

Context This was a settlement of vested RSUs into ADS (compensation vesting), not an open-market purchase or sale. Because the RSUs vested and were converted (with no immediate sale reported), the transaction is typically routine compensation settlement rather than a direct bullish or bearish trading signal.