Jiang Fan (FJ) 4

What Happened
Jiang Fan, Chief Executive Officer of Alibaba's E‑commerce Business Group, had restricted share units vest and convert into ordinary shares/ADSs on June 25, 2026 (totaling 30,169 ordinary-share equivalents). To satisfy tax withholding obligations, 13,579 of those shares were sold in the open market for a weighted average price of $12.10, producing proceeds of $164,306. The derivative/vested conversions are reported as exercise/conversion (Code M) with $0 proceeds because they represent settlement of RSUs into shares/ADSs.

Key Details

• Transaction date: June 25, 2026; Form filed June 29, 2026 (timely filing).
• Vesting/conversions reported: 7,336 + 7,333 + 15,500 = 30,169 ordinary-share equivalents (settlement of RSUs/ADSs).
• Open‑market sale: 13,579 shares at a weighted average $12.10, total $164,306 (sold in Hong Kong; HK$94–95 per share converted at HK$7.8464 = US$1 per F4).
• The M entries reflect conversion/settlement of RSUs/ADSs; the sale was a withholding/sale-to-cover for taxes (per footnote F3).
• Shares owned after the transaction: not specified in the provided summary of the filing.
• Relevant footnotes: RSUs settled into ADSs (each ADS = 8 ordinary shares) and ordinary shares (F1–F2, F5–F9); withheld shares sold in HK to satisfy tax withholding (F3–F4).

Context
This was primarily a vesting/settlement of equity awards with a partial sell-to-cover for tax obligations, not an opportunistic open‑market investment purchase. Such withholding sales are routine following vesting and do not necessarily indicate management sentiment about the company’s stock price.