Alibaba CFO Hong Xu Sells 103,046 Shares for Taxes

The reported share sale was used to satisfy tax withholding, and the awards followed several installment schedules.

Rhea-AI Filing Summary

Alibaba Group Holding Ltd CFO Hong Xu reported four restricted-share-unit awards vested on September 25, 2026, corresponding to 10,000, 9,000, 10,000 and 200,000 ordinary shares; the 10,000-share award settled in ADSs and the others in ordinary shares. Hong Xu also reported that 103,046 ordinary shares were sold in Hong Kong at a weighted-average US$13.68 per share to satisfy tax withholding obligations; no Rule 10b5-1 plan is reported. Separately, 657,570 ordinary shares were reported as held indirectly by a trust.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 10 txns

Insider Xu Hong

Role Chief Financial Officer

Sold 103,046 shs ($1.41M)

Approx. gross sale proceeds $1.41M

Type	Security	Shares	Price	Value
Exercise	Restricted Share Units F5, F6	10,000	$0.00	$0.00
Exercise	Restricted Share Units F7, F8	9,000	$0.00	$0.00
Exercise	Restricted Share Units F7, F9	10,000	$0.00	$0.00
Exercise	Restricted Share Units F7, F10	200,000	$0.00	$0.00
Exercise	Ordinary Shares F1	10,000	--	--
Exercise	Ordinary Shares F2	9,000	--	--
Exercise	Ordinary Shares F2	10,000	--	--
Exercise	Ordinary Shares F2	200,000	--	--
Sale	Ordinary Shares F3, F4	103,046	$13.68	$1.41M
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Restricted Share Units — 1,090,000 contracts (Direct); Ordinary Shares — 406,450 shares (Direct); Ordinary Shares — 657,570 shares (Indirect, By trust)

Footnotes (10)

1. F1. Reflects restricted share units that vested and settled into American Depositary Shares ("ADSs"). Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the ADSs acquired in connection with such vesting.
2. F2. Reflects restricted share units that vested and settled into ordinary shares.
3. F3. Pursuant to the issuer's equity plan, these shares of ordinary shares were withheld and sold in the open market in Hong Kong on behalf of the reporting person to satisfy tax withholding obligations related to the reporting person's vesting of restricted shares units reported herein.
4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices denominated in Hong Kong dollars ranging from 105.60 to 108.40 inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The sales prices reported herein were converted from Hong Kong dollars to United States dollars at a conversion price of HK$7.8503 to US$1.00.
5. F5. Each restricted share unit represents a contingent right to receive one ADS. Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the vested ADSs in this award.
6. F6. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in sixteen equal quarterly installments beginning on Jul 1, 2024, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026.
7. F7. Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares.
8. F8. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jul 1, 2025, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026.
9. F9. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jun 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026.
10. F10. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in five equal annual installments beginning on Sep 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026.

Key Figures

RSU settlement amounts: 10,000, 9,000, 10,000 and 200,000 ordinary shares Shares sold: 103,046 ordinary shares Weighted-average sale price: US$13.68 per share +2 more

5 metrics

RSU settlement amounts 10,000, 9,000, 10,000 and 200,000 ordinary shares Four award settlements reported for September 25, 2026; one settled in ADSs.

Shares sold 103,046 ordinary shares Hong Kong sales on September 25, 2026 to satisfy tax withholding obligations.

Weighted-average sale price US$13.68 per share Reported price converted from Hong Kong dollars.

Trust-held shares 657,570 ordinary shares Indirect holding reported as of September 25, 2026.

ADS ratio 8 ordinary shares per ADS Ratio stated for Alibaba Group Holding Ltd ADSs.

Key Terms

restricted share units, American Depositary Shares ("ADSs"), weighted average price, tax withholding obligations, +1 more

5 terms

restricted share units financial

"restricted share units that vested and settled into ordinary shares"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

American Depositary Shares ("ADSs") financial

"settled into American Depositary Shares ("ADSs")"

American Depositary Shares (ADSs) are U.S.-listed certificates issued by a bank that represent ownership of a specified number of a foreign company’s ordinary shares, letting U.S. investors buy and sell those interests in U.S. dollars on American markets. They matter because they make investing in overseas companies as easy as buying a domestic stock—streamlining currency, settlement, and recordkeeping—while still exposing investors to foreign-market risks like exchange rates and local regulations.

weighted average price financial

"price reported in Column 4 is a weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

tax withholding obligations financial

"to satisfy tax withholding obligations"

equal quarterly installments financial

"vests in sixteen equal quarterly installments"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many BABA shares did Hong Xu sell and at what price?

Hong Xu sold 103,046 ordinary shares at a weighted-average US$13.68 per share on September 25, 2026, to satisfy tax withholding obligations. The shares were sold in multiple transactions in Hong Kong at prices from HK$105.60 to HK$108.40 per share, inclusive. The reported US-dollar prices were converted at HK$7.8503 to US$1.00, and no Rule 10b5-1 plan is reported.

What vesting schedules applied to Hong Xu's BABA restricted share units?

The 10,000 ordinary-share-equivalent award in ADSs had 16 equal quarterly installments beginning July 1, 2024. The 9,000-share award had 16 equal quarterly installments beginning July 1, 2025, and the 10,000-share award had 16 equal quarterly installments beginning June 25, 2026. The 200,000-share award had five equal annual installments beginning September 25, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/29/2026 - 06:06 AM Accepted by SEC EDGAR 09/29/2026 - 06:02 AM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Xu Hong

(Last) (First) (Middle)

26/F TOWER ONE, TIMES SQUARE

1 MATHESON STREET, CAUSEWAY BAY

(Street)

HONG KONG 00000

(City) (State) (Zip)

HONG KONG

(Country)

2. Issuer Name and Ticker or Trading Symbol
Alibaba Group Holding Ltd [ BABA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares	09/25/2026		M		10,000	A	(1)	290,496	D
Ordinary Shares	09/25/2026		M		9,000	A	(2)	299,496	D
Ordinary Shares	09/25/2026		M		10,000	A	(2)	309,496	D
Ordinary Shares	09/25/2026		M		200,000	A	(2)	509,496	D
Ordinary Shares	09/25/2026		S(3)		103,046	D	$13.68(4)	406,450	D
Ordinary Shares								657,570	I	By trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Units	(5)	09/25/2026		M			10,000	(6)	(6)	Ordinary Shares(5)	10,000(5)	$0	60,000(6)	D
Restricted Share Units	(7)	09/25/2026		M			9,000	(8)	(8)	Ordinary Shares(7)	9,000(7)	$0	90,000(8)	D
Restricted Share Units	(7)	09/25/2026		M			10,000	(9)	(9)	Ordinary Shares(7)	10,000(7)	$0	140,000(9)	D
Restricted Share Units	(7)	09/25/2026		M			200,000	(10)	(10)	Ordinary Shares(7)	200,000(7)	$0	800,000(10)	D

Explanation of Responses:

1. Reflects restricted share units that vested and settled into American Depositary Shares ("ADSs"). Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the ADSs acquired in connection with such vesting.

2. Reflects restricted share units that vested and settled into ordinary shares.

3. Pursuant to the issuer's equity plan, these shares of ordinary shares were withheld and sold in the open market in Hong Kong on behalf of the reporting person to satisfy tax withholding obligations related to the reporting person's vesting of restricted shares units reported herein.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices denominated in Hong Kong dollars ranging from 105.60 to 108.40 inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The sales prices reported herein were converted from Hong Kong dollars to United States dollars at a conversion price of HK$7.8503 to US$1.00.

5. Each restricted share unit represents a contingent right to receive one ADS. Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the vested ADSs in this award.

6. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in sixteen equal quarterly installments beginning on Jul 1, 2024, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026.

7. Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares.

8. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jul 1, 2025, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026.

9. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jun 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026.

10. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in five equal annual installments beginning on Sep 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026.

	/s/ Kevin Jinwei Zhang, as Attorney-in-Fact for Toby Hong Xu	09/29/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)