Kanzhun (BZ) Director Mu Yang Receives RSUs, Sells Shares

What Happened

• Mu Yang, a director of Kanzhun Ltd (BZ), had restricted stock units (RSUs) vest and convert into Class A ordinary shares/ADS on September 17, 2026. The filing shows an acquisition (exercise/conversion) of 122,500 shares (via ADS) and an open-market sale of 60,704 shares at a weighted average price of $7.46 for proceeds of $452,712. Two additional derivative disposals of 80,000 and 42,500 shares are reported at $0 in connection with the RSU settlement.

Key Details

• Transaction date: September 17, 2026; Form 4 filed September 18, 2026 (timely filing).
• Sale: 60,704 shares sold on the open market at a weighted average price of $7.46 (sales ranged $7.45–$7.4625) for $452,712. (Footnote: sale described as "sell-to-cover" to satisfy tax withholding.)
• RSU settlement: 122,500 Class A ordinary shares acquired in the form of ADS upon RSU vesting on Sept 17, 2026 (each RSU converts to one Class A share; ADS may represent Class A shares per issuer rules).
• Derivative disposals: two line items of 80,000 and 42,500 shares reported with $0 value (reported in the same filing alongside the RSU vesting and sell-to-cover sale).
• Shares owned after the transactions: not specified in the provided Form 4 data.
• Notable footnotes: ADS structure noted (each ADS represents two Class A ordinary shares per issuer disclosure); sell-to-cover transaction was used to cover tax withholding related to RSU settlement.
• No indication in the filing that this was part of a 10b5-1 plan or that the Form 4 was late.

Context

• This filing primarily reflects an award settlement (RSUs vesting) rather than an independent open-market purchase. The open-market sale is a routine sell-to-cover to meet tax withholding on vested RSUs; the $0 derivative dispositions reported in the filing are consistent with shares withheld or otherwise reconciled as part of settlement (the filing explicitly notes the sell-to-cover sale). Such award settlements and related sell-to-cover sales are common and do not alone indicate the insider’s broader market view.