Alibaba (NYSE: BABA) CEO’s RSU vesting triggers small tax sale

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Alibaba Group Holding Ltd executive Jiang Fan, CEO of a business group, reported routine equity compensation activity tied to restricted share units vesting on June 25, 2026. Several RSU awards vested and settled into American Depositary Shares and ordinary shares, increasing his direct share ownership.

To cover related tax withholding obligations under Alibaba’s equity plan, 13,579 ordinary shares were sold in the Hong Kong market at a weighted average price of $12.10 per share, based on prices between HK$94.00 and HK$95.00. Following these transactions, Jiang Fan directly holds 547,363 ordinary shares.

The filing also shows continuing unvested RSU positions, including 232,500 restricted share units in the form of ADS-based awards and 110,000 restricted share units in ordinary-share awards, scheduled to vest in equal quarterly installments under existing award agreements.

Insider Trade Summary

Net Seller: 13,579 shares ($164,306)

Net Sell 7 txns

Insider Jiang Fan (FJ)

Role CEO of Business Group

Sold 13,579 shs ($164K)

Type	Security	Shares	Price	Value
Exercise	Restricted Share Units	7,336	$0.00	--
Exercise	Restricted Share Units	7,333	$0.00	--
Exercise	Restricted Share Units	15,500	$0.00	--
Exercise	Ordinary Shares	7,336	$0.00	--
Exercise	Ordinary Shares	7,333	$0.00	--
Exercise	Ordinary Shares	15,500	$0.00	--
Sale	Ordinary Shares	13,579	$12.10	$164K

Holdings After Transaction: Restricted Share Units — 110,000 shares (Direct, null); Ordinary Shares — 547,363 shares (Direct, null)

Footnotes (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. Reflects restricted share units that vested and settled into ordinary shares. 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. 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 94.00 to 95.00 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$7.8464 to US$1.00. 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. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in twenty-four 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 Jun 25, 2026. Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in twenty-four equal quarterly installments on beginning on Jul 1, 2025, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Jun 25, 2026. 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 Jun 25, 2026.

Key Figures

Shares sold for tax: 13,579 shares Weighted average sale price: $12.10 per share Shares held after transactions: 547,363 shares +3 more

6 metrics

Shares sold for tax 13,579 shares Ordinary shares sold June 25, 2026 to satisfy tax withholding

Weighted average sale price $12.10 per share Hong Kong sales, HK$94.00–HK$95.00 converted at HK$7.8464/US$1.00

Shares held after transactions 547,363 shares Direct ordinary share holdings following June 25, 2026 activity

RSUs vested into shares 30,169 units Total restricted share units exercised/converted into ordinary shares

Unvested ADS-based RSUs 232,500 units Outstanding unvested portion of an RSU award in ADS form

Unvested ordinary-share RSUs 110,000 units Outstanding unvested portion of an ordinary-share RSU award

Key Terms

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

5 terms

American Depositary Shares ("ADSs") financial

"vested and settled into American Depositary Shares ("ADSs"). Each ADS represents 8 ordinary shares"

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

"The 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

"sold in the open market in Hong Kong on behalf of the reporting person to satisfy tax withholding obligations"

contingent right financial

"Each restricted share unit represents a contingent right to receive one ADS"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/29/2026 - 06:06 AM Accepted by SEC EDGAR 06/29/2026 - 06:06 AM

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^*

Jiang Fan (FJ)

(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)
	CEO of Business Group

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Ordinary Shares	06/25/2026		M		7,336	A	⁽¹⁾	547,363	D
Ordinary Shares	06/25/2026		M		7,333	A	⁽²⁾	554,696	D
Ordinary Shares	06/25/2026		M		15,500	A	⁽²⁾	570,196	D
Ordinary Shares	06/25/2026		S⁽³⁾		13,579	D	$12.1⁽⁴⁾	556,617	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Share Units	⁽⁵⁾	06/25/2026		M			7,336	⁽⁶⁾	⁽⁶⁾	Ordinary Shares⁽⁵⁾	7,336⁽⁵⁾	$0	110,000⁽⁶⁾	D
Restricted Share Units	⁽⁷⁾	06/25/2026		M			7,333	⁽⁸⁾	⁽⁸⁾	Ordinary Shares⁽⁷⁾	7,333⁽⁷⁾	$0	139,334⁽⁸⁾	D
Restricted Share Units	⁽⁷⁾	06/25/2026		M			15,500	⁽⁹⁾	⁽⁹⁾	Ordinary Shares⁽⁷⁾	15,500⁽⁷⁾	$0	232,500⁽⁹⁾	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 94.00 to 95.00 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$7.8464 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 twenty-four 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 Jun 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 twenty-four equal quarterly installments on beginning on Jul 1, 2025, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Jun 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 Jun 25, 2026.

Remarks:

Title: Chief Executive Officer, Alibaba E-commerce Business Group

	/s/ Kevin Jinwei Zhang, as Attorney-in-Fact for Fan Jiang	06/29/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Alibaba (BABA) executive Jiang Fan report?

Jiang Fan reported RSU vesting and a related tax sale. Several restricted share unit awards vested into ADSs and ordinary shares, and 13,579 ordinary shares were sold to satisfy tax withholding obligations under Alibaba’s equity plan on June 25, 2026.

How many Alibaba (BABA) shares did Jiang Fan sell and at what price?

Jiang Fan sold 13,579 ordinary shares at a weighted average price of $12.10 per share. The shares were sold in Hong Kong at prices between HK$94.00 and HK$95.00, converted using an exchange rate of HK$7.8464 to US$1.00.

Why were Jiang Fan’s Alibaba (BABA) shares sold in this Form 4 filing?

The shares were sold to cover tax withholding obligations tied to RSU vesting. Under Alibaba’s equity plan, 13,579 ordinary shares were withheld and sold in Hong Kong on Jiang Fan’s behalf when his restricted share units vested on June 25, 2026.

How many Alibaba (BABA) shares does Jiang Fan hold after these transactions?

After the June 25, 2026 transactions, Jiang Fan directly holds 547,363 ordinary shares of Alibaba. This reflects his position following RSU vesting, the associated tax-related sale, and the resulting adjustments reported in the Form 4 filing.

What Alibaba (BABA) RSU awards for Jiang Fan remain unvested?

Unvested RSU positions include 232,500 units in an ADS-based award and 110,000 units in an ordinary-share award. These awards vest in equal quarterly installments under pre-existing schedules, with portions reported as vested as of June 25, 2026.

How many Alibaba (BABA) RSUs vested for Jiang Fan in this period?

A total of 30,169 restricted share units vested and were converted into ordinary shares. This includes 15,500, 7,333, and 7,336 units from different awards, each settling into underlying ordinary shares in line with Alibaba’s equity compensation terms.