[144] KE Holdings Inc. SEC Filing

Rhea-AI Filing Summary

KE Holdings Inc. (BEKE) filed a Form 144 notifying the proposed sale of 1,200,000 American Depository Shares (each ADS represents 3 ordinary shares) through Merrill Lynch, Pierce, Fenner & Smith Incorporated in San Francisco. The filing lists an aggregate market value of $23,664,000 and an approximate sale date of 09/30/2025 on the NYSE.

The ADS were acquired on 08/17/2020 at IPO from KE Holdings Inc., with the filing showing total consideration of US$24 million. The filer reports no securities sold in the past three months. The notice includes the standard representation that the seller is not aware of undisclosed material adverse information about the issuer.

Positive

• Clear provenance of the ADS: acquired at IPO on 08/17/2020 from KE Holdings Inc.
• Broker identified (Merrill Lynch, Pierce, Fenner & Smith Incorporated) and an approximate sale date provided (09/30/2025)
• No securities sold in past three months reported for the account, indicating this is a planned single disposition

Negative

• Large block to be sold (1,200,000 ADS with aggregate market value $23,664,000) could represent notable insider liquidity
• Discrepancy in 'Number of Shares Outstanding' field shows 0, which is unclear in this filing

Insights

Securities Analyst

TL;DR Proposed sale of 1.2M ADS worth $23.66M via Merrill Lynch is a material insider liquidity event but not a trading history disclosure.

The Form 144 documents a planned disposition of a sizable block of ADS: 1,200,000 units with listed aggregate market value of $23,664,000 and an indicated sale date of 09/30/2025. The ADS were acquired at IPO on 08/17/2020 from KE Holdings Inc. and the table records US$24 million as the payment at acquisition. No sales in the prior three months are reported. For investors, this filing signals a scheduled liquidity action by a person affiliated with the issuer; it does not, by itself, disclose intent beyond the sale notice nor provide details on holdings post-sale.

Corporate Governance Specialist

TL;DR The filing is a routine Rule 144 notice documenting an intended sale; it contains acquisition provenance and broker information but no new issuer-specific concerns.

The form identifies the broker (Merrill Lynch, San Francisco) and traces acquisition to the IPO on 08/17/2020 from KE Holdings Inc., with reported payment of US$24 million. The filer affirms absence of undisclosed material adverse information. There are no reported recent sales and no other transactional complexity disclosed. As a governance matter, this is a standard compliance disclosure for restricted or control securities being resold under Rule 144.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
American Depository Shares -- each representing 3 ordinary shares (executed in connection with a fund distribution to partners)	Merrill Lynch, Pierce, Fenner & Smith Incorporated 555 California Street, Suite 1800, San Francisco CA 94104	1200000	23664000.00	0	09/30/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
American Depository Shares -- each representing 3 ordinary shares	08/17/2020	Acquired during IPO.	KE Holdings Inc.			1200000	08/17/2020	US$24 million

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What is being sold in the BEKE Form 144?

The filer proposes to sell 1,200,000 American Depository Shares (each ADS represents 3 ordinary shares) through Merrill Lynch.

What is the aggregate market value of the proposed sale in the filing?

The Form 144 lists an aggregate market value of $23,664,000 for the 1,200,000 ADS.

When were the securities acquired according to the filing?

The ADS were acquired on 08/17/2020 during the IPO from KE Holdings Inc., with payment listed as US$24 million.

What is the approximate date of sale listed in the Form 144?

The filing indicates an approximate date of sale of 09/30/2025 and lists the NYSE as the exchange.

Does the filing report any securities sold in the past three months?

No. The Form 144 states 'Nothing to Report' for securities sold during the past three months.