BeOne Medicines (ONC) Chair Wang Xiaodong Exercises Options, Sells ADS

What Happened
Wang Xiaodong, Director, Chair and Scientific Advisory Board member of BeOne Medicines (ONC), reported multiple transactions dated September 28, 2026. He exercised or converted derivatives to acquire 31,028 shares at $36.90 per share (cost $1,144,933) and immediately sold those 31,028 American Depositary Shares (ADS) in a series of open-market transactions for total proceeds of approximately $11,318,559. The filing also reports a separate conversion/disposition of 403,364 derivative shares shown at $0 (no cash proceeds reported).

Key Details

• Transaction date reported: 2026-09-28; Form filed: 2026-09-30 (timely filing).
• Exercise: 31,028 shares acquired @ $36.90 = $1,144,933.
• Open-market sales: 31,028 ADS sold in multiple trades at weighted average prices; total sale proceeds ≈ $11,318,559. Individual sale lots and reported weighted prices include ranges noted in footnotes (roughly $356.94–$367.25 across transactions).
• Additional derivative conversion: 403,364 shares reported as disposed at $0 (listed as an exercise/conversion of a derivative).
• Net cash flow (simple arithmetic): sales proceeds ≈ $11.32M minus exercise cost $1.145M → ~ $10.17M net (reported values only).
• Shares owned after transaction: not specified in the excerpt of the filing. See the full Form 4 for post-transaction holdings.
• Notable footnotes: at least one sale was effected under a Rule 10b5‑1 trading plan (footnote F5); several sales reported as weighted-average prices across multiple transactions (F6–F14); some securities are held in family trusts, an LLC, or by the spouse, and the reporting person disclaims beneficial ownership for those holdings (F1–F3). Each ADS represents 13 ordinary shares (F4).
• Transaction codes: M = exercise/conversion of derivative; S = open-market sale.

Context

• This filing shows an option/derivative exercise immediately followed by sales of the exact number of acquired ADS (31,028), which is common when insiders exercise options and sell shares to cover exercise costs, taxes, or rebalance. The conversion/disposition of 403,364 derivative shares reported at $0 could reflect a conversion or net settlement mechanism — the Form 4 lists it as an M (exercise/conversion) with no cash proceeds.
• These entries are factual disclosures required by the SEC and do not by themselves explain the insider’s motivations. For complete holdings, breakdown of ADS vs. ordinary shares, and per-trade details, consult the full Form 4 filing (Accession 0001662982-26-000004).