Kanzhun (BZ) CEO Zhao Peng Jonathan Sells 15.17M Shares

What Happened

• Zhao Peng Jonathan, CEO (and weighted voting rights beneficiary) of Kanzhun Ltd (BZ), disposed of a total of 15,170,000 Class A ordinary shares in a block trade on September 21, 2026. The trade was executed at HK$56.90 per share (reported at US$7.25 per share after conversion), producing aggregate proceeds of approximately $109.96 million.
• The filing also shows a technical conversion on September 17, 2026: a one-for-one conversion of 1,635,480 Class B ordinary shares into Class A ordinary shares (reported as a simultaneous $0 disposal and $0 acquisition). That conversion did not change Mr. Zhao’s total economic interest — it was done to comply with Hong Kong listing rules governing weighted voting rights.

Key Details

• Transaction dates & prices:
  • Sept 17, 2026: conversion of 1,635,480 Class B → Class A (no cash; no net change).
  • Sept 21, 2026: sale of 4,459,560 Class A shares at US$7.25 each = $32,324,675.
  • Sept 21, 2026: sale of 10,710,440 Class A shares at US$7.25 each = $77,633,553.
  • Total sold 9/21/2026: 15,170,000 shares; total proceeds ≈ $109,958,228.
• Footnotes of note:
  • The Sept 17 conversion was done to proportionately reduce WVR exposure after the issuer repurchased and cancelled Class A shares, in accordance with HKEX Listing Rules (Rules 8A.13, 8A.15, 8A.21).
  • The Sept 21 sale was executed as a block trade on The Stock Exchange of Hong Kong by Techwolf Limited. Of the 15,170,000 shares sold, 4,459,560 were previously held Class A shares and 10,710,440 were Class A shares issuable upon conversion of Class B shares held by Techwolf.
  • The reported USD price ($7.25) was converted from HK$56.90 using HK$7.85 = US$1.00.
• Shares owned after transaction: not specified in the disclosed excerpt of this filing.
• Filing: Reported to the SEC on Sept 21, 2026.

Context

• This filing reports a significant insider sale (liquidity event) rather than a purchase. Sales can be routine (portfolio or corporate-entity liquidity) and do not by themselves indicate the insider’s view of the company’s prospects.
• The September 17 entries are a non‑cash, corporate‑governance-driven conversion between share classes to satisfy Hong Kong listing rules; they did not change Mr. Zhao’s economic ownership. The sale on Sept 21 involved both existing Class A shares and shares created by converting Class B shares for the purpose of the block trade.