Xu Hong 4

What Happened
Xu Hong, Chief Financial Officer of Alibaba Group (BABA), had multiple restricted share units (RSUs) vest on March 25, 2026 and those awards converted/settled into ordinary shares and ADSs. On the same day she sold 54,450 shares in the open market at a weighted-average price of $16.07 per share for proceeds of $875,012. The Form 4 also records conversion/exercise-type entries for 62,000; 40,000; 10,000; and 9,000 shares showing $0.00 price, which reflect settlement of RSUs (no cash paid) into shares.

Key Details

• Transaction date: March 25, 2026 (filed March 26, 2026). Filing appears timely.
• Open-market sale: 54,450 shares at $16.07 (weighted avg) — proceeds $875,012.
• RSU settlements/exercises shown: 62,000; 40,000; 10,000; 9,000 shares (recorded with $0.00 price indicating conversion/settlement).
• Shares owned after transaction: Not specified in the provided excerpt; see the full Form 4 for total holdings.
• Notable footnotes: withholding/sale to satisfy tax obligations is reported (footnote F3); sales prices were converted from HKD to USD at HK$7.8274 = US$1 (footnote F4). Some vested awards settled into ADSs (each ADS = 8 ordinary shares) per related footnotes (F1, F5).
• Transaction type notes: “M” entries are exercise/conversion of derivatives (RSU settlements); the open-market sale is coded as “S.” No 10b5-1 plan or late filing flags are indicated in the provided data.

Context
The zero-price derivative entries represent RSU/award settlements (not cash purchases) and the subsequent open-market sale appears to include shares sold to satisfy tax-withholding obligations — a routine practice for many executives. That type of withholding sale is common and does not in itself indicate insider sentiment about the stock.