EVANS J. MICHAEL 4

What Happened
Evans J. Michael, President and Director of Alibaba Group Holding Ltd (BABA), sold a total of 720,000 shares on June 29, 2026. The sales were reported as two open-market/Rule 144 transactions: 692,992 shares at a weighted average price of $94.92 (≈ $65.78M) and 27,008 shares at a weighted average price of $95.59 (≈ $2.58M), for an aggregate proceeds of about $68.36 million. These were sales (not purchases), which are generally routine dispositions rather than bullish buying signals.

Key Details

• Transaction date: June 29, 2026 (filed July 1, 2026) — filing appears timely under Form 4 rules.
• Trades and prices:
  • 692,992 shares sold at weighted avg $94.92 (prices in range $94.455–$95.45) — Footnote F2.
  • 27,008 shares sold at weighted avg $95.59 (prices in range $95.455–$95.905) — Footnote F3.
• Total shares sold: 720,000; total reported proceeds ≈ $68,360,496.
• Method/footnote: Footnote F1 states the sales were pursuant to Rule 144 through a broker-dealer.
• Shares owned after transaction: Not specified in the information provided in this summary.
• Transaction code: S = Sale.

Context
Rule 144 sales typically indicate the sale of shares subject to resale restrictions (e.g., restricted stock or control-person holdings) after applicable holding periods; the filing notes the sales were handled through a broker-dealer. The Form 4 shows dispositions only — no purchases, option exercises, or awards in this filing. As always, insider sales are factual signals of selling activity but do not, by themselves, explain the insider’s motivation.