New Oriental (EDU) Director Zhou Chenggang Sells 70,000 ADSs

What Happened

• Director Zhou Chenggang sold a total of 70,000 American Depositary Shares (ADSs) of New Oriental Education & Technology Group (EDU) in open-market transactions on Aug 7 and Aug 10, 2026. The two sales totaled approximately $3,971,444.
• Breakdown: 13,052 ADSs sold at a weighted average price of $56.32 for $735,089 (sales ranged $56.00–$56.55); 56,948 ADSs sold at a weighted average price of $56.83 for $3,236,355 (sales ranged $56.45–$57.35). Each ADS represents 10 underlying common shares.

Key Details

• Transaction dates: 2026-08-07 and 2026-08-10 (Form 4 filed 2026-08-11). Filing was timely under the two-business-day rule.
• Transaction type: Sales (code S) — open-market disposal of ADSs.
• Total ADSs sold: 70,000 ADSs (equivalent to 700,000 underlying common shares); total proceeds ≈ $3.97M.
• Post-transaction holdings: Not specified in the provided filing excerpt.
• Footnotes: F1 clarifies 1 ADS = 10 common shares; F2 and F3 show weighted-average prices and price ranges for the respective trades and note the filer will provide per-price details to the SEC or interested parties on request.

Context

• These were outright sales (liquidity events), not purchases or option exercises. Sales by insiders are common and do not by themselves indicate the company’s future performance; purchases are typically more informative about insider sentiment.