Baozun (BZUN) Director Yu Bin Helen Receives Award, Converts RSUs

What Happened

• Director Yu Bin Helen converted 16,809 vested Restricted Stock Units (RSUs) into 5,603 American Depositary Shares (ADSs) on Aug 28, 2026 (no cash exchanged, $0 price) and was also granted 18,000 new RSUs the same day under the 2022 Share Incentive Plan. The conversion and grant are recorded as derivative transactions (codes M = exercise/conversion, A = award).
• The conversion: 16,809 RSUs -> 5,603 ADSs. Each ADS represents three Class A ordinary shares (so the ADSs represent 16,809 underlying Class A shares). The new grant is for 18,000 RSUs (no immediate cash value reported).

Key Details

• Transaction date: August 28, 2026; Form 4 filed Sept 1, 2026 (within the standard reporting window).
• Prices: All reported at $0.00 (typical for RSU vesting/conversion and grants).
• Vesting schedule for the 18,000 RSUs: 7,500 RSUs vest May 21, 2029; 10,500 RSUs vest May 21, 2030 (per footnote).
• Holdings noted in filing: the filing states a total of 58,809 RSUs existed and that 16,809 of them vested and converted into 5,603 ADSs on Aug 28, 2026.
• Transaction codes: A = Award/Grant (18,000 RSUs); M = Exercise/Conversion of derivative (16,809 RSUs disposed/canceled and 5,603 ADSs acquired).
• No sale of ADSs was reported; this was a vesting/conversion event plus a new RSU grant — not an open-market buy or sale.

Context

• RSUs are contingent awards giving the right to receive shares in the future; conversion here simply moved vested RSUs into ADSs (a non-cash event). Because each ADS equals 3 Class A shares, the conversion preserved the underlying share count.
• Grants and vesting events are common compensation actions and do not by themselves indicate a buy or sell sentiment by the insider.
• Filing appears timely; no 10b5-1 plan, tax-withholding sale, or late filing flag is indicated in the disclosed footnotes.