KE Holdings (BEKE) Director Zhu Hansong Exercises RSUs, Sells ADSs

What Happened

• Director Zhu Hansong had restricted share units (RSUs) vest on Sept 2, 2026, resulting in the conversion/exercise of 3,750 ADSs (each ADS = 3 Class A ordinary shares), equal to 11,250 Class A shares. These vested RSUs were converted into ADSs at no cash cost.
• To satisfy tax withholding obligations, 803 ADSs were disposed on Sept 3, 2026 at a weighted-average price of $17.73 per ADS, generating approximately $14,238. Separately, on Sept 2, 2026 he was granted RSUs representing 4,588 ADSs (13,764 Class A shares) that will vest on Sept 2, 2027.

Key Details

• Transaction dates and prices:
  • Sept 2, 2026: RSUs corresponding to 3,750 ADSs vested/converted (no cash exercise price).
  • Sept 2, 2026: Grant of RSUs covering 4,588 ADSs, vesting 9/2/2027.
  • Sept 3, 2026: 803 ADSs disposed as tax withholding at $17.73 per ADS (total ≈ $14,238). Price reported is a weighted average.
• ADS to Class A conversion: 1 ADS = 3 Class A ordinary shares (so vested 3,750 ADSs = 11,250 Class A shares; granted 4,588 ADSs = 13,764 Class A shares).
• Reason for disposal: tax withholding (transaction code F), not an open-market sell for investment purposes.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing timeliness: Form filed Sept 4, 2026 for a Sept 2 transaction; this appears to be a timely Section 16 filing (filed within the standard two-business-day window).

Context

• These entries reflect RSU vesting and related tax withholding rather than a discretionary market sale. The exercise/conversion was effectively the issuance of ADSs upon RSU vesting; a small portion was withheld/sold to cover taxes. The 4,588-ADS award is a new RSU grant that vests one year later (Sept 2, 2027).