PENG ALEX ZHUANGZHUANG 4

What Happened
Alex Zhuangzhuang Peng, President and Chief Financial Officer of TAL Education Group (TAL), sold 30,000 American Depositary Shares (ADSs) in an open‑market transaction on August 3, 2026. The weighted average sale price was $12.28 per ADS, resulting in gross proceeds of approximately $368,430. The sale was made pursuant to Rule 144 through a broker‑dealer.

Key Details

• Transaction date: 2026-08-03; Form 4 filed: 2026-08-04 (filed the next day).
• Shares sold: 30,000 ADSs.
• Price: weighted average $12.28; reported transaction prices ranged from $12.09 to $12.43.
• Proceeds: ~$368,430 (gross).
• Sale type/authority: Open‑market sale under Rule 144 via a broker‑dealer (per footnote).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes of note:
  • F1: 3 ADSs = 1 Class A common share of the issuer.
  • F2: Sale executed pursuant to Rule 144 through a broker‑dealer.
  • F3: Price is a weighted average; multiple transactions at prices between $12.09–$12.43.

Context
ADSs represent the issuer’s underlying Class A common shares (3 ADSs per one Class A share). Rule 144 sales are a common mechanism for selling restricted or control securities through a broker under applicable resale conditions; such sales are often routine and don’t by themselves indicate management’s view of the company’s prospects. This was a sale (not a purchase or option exercise), so it is not a bullish insider signal.