KE Holdings CEO converts 526K Class B shares

The conversion followed cancellation of repurchased Class A shares, including shares represented by repurchased ADSs and shares repurchased on the SEHK.

Rhea-AI Filing Summary

KE Holdings Inc. reported an indirect conversion through a controlled corporation on October 20, 2026: 526,428 Class B ordinary shares were converted into 526,428 Class A ordinary shares at a 1:1 ratio. The transaction was reported for CEO Yongdong Peng, whose reported holdings through the controlled corporation after the transaction were 63,350,679 Class A and 93,555,863 Class B ordinary shares.

The conversion followed cancellation of 14,308,821 Class A ordinary shares represented by repurchased ADSs and 4,915,600 Class A ordinary shares repurchased on the SEHK.

Insider Trade Summary

Other: 1,052,856 shares

Other 2 txns

Insider Peng Yongdong

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Other	Class A ordinary shares F1	526,428	$0.00	$0.00
Other	Class B ordinary shares F1	526,428	$0.00	$0.00

Holdings After Transaction: Class A ordinary shares — 63,350,679 shares (Indirect, By controlled corporation); Class B ordinary shares — 93,555,863 shares (Indirect, By controlled corporation)

Footnotes (1)

1. F1. On October 20, 2026, 14,308,821 Class A ordinary shares represented by repurchased ADSs and 4,915,600 Class A ordinary shares repurchased on the SEHK were cancelled. As a result, Mr. Peng, as a beneficiary of weighted voting rights (as defined under the Hong Kong Listing Rules), converted 526,428 Class B ordinary shares into Class A ordinary shares on 1:1 ratio under the Hong Kong Listing Rules.

Key Figures

Class A ordinary shares acquired: 526,428 shares Class B ordinary shares disposed: 526,428 shares Class A ordinary shares held after transaction: 63,350,679 shares +4 more

7 metrics

Class A ordinary shares acquired 526,428 shares October 20, 2026 conversion

Class B ordinary shares disposed 526,428 shares October 20, 2026 conversion

Class A ordinary shares held after transaction 63,350,679 shares Reported indirectly through a controlled corporation

Class B ordinary shares held after transaction 93,555,863 shares Reported indirectly through a controlled corporation

Class A ordinary shares represented by repurchased ADSs and cancelled 14,308,821 shares October 20, 2026

Class A ordinary shares repurchased on the SEHK and cancelled 4,915,600 shares October 20, 2026

Conversion ratio 1:1 Class B ordinary shares converted into Class A ordinary shares

Key Terms

weighted voting rights, ADSs, Hong Kong Listing Rules

3 terms

weighted voting rights regulatory

"beneficiary of weighted voting rights"

A system where some shares carry more voting power than others so certain owners can control corporate decisions with fewer shares. Think of it like tickets to a meeting where some tickets count for five votes and others for one: it lets founders or insiders steer strategy and board picks even if they don't own most of the stock. For investors this affects corporate governance, the protection of minority shareholders, and how much influence public holders have over major decisions.

ADSs technical

"Class A ordinary shares represented by repurchased ADSs"

Hong Kong Listing Rules regulatory

"under the Hong Kong Listing Rules"

A set of official requirements and procedures companies must follow to list and trade shares on the Hong Kong stock exchange. Think of it as a rulebook and checklist that determines who can join the market, what financial and governance information they must disclose, and what ongoing duties they have; these rules matter to investors because they shape how much transparency, oversight and legal protection shareholders can expect, which affects risk and valuation.

FAQ

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

What happened to BEKE's Class B shares on October 20, 2026?

A controlled corporation indirectly converted 526,428 Class B ordinary shares into 526,428 Class A ordinary shares at a 1:1 ratio. The footnote says the conversion followed cancellation of repurchased Class A ordinary shares and identifies Yongdong Peng, KE Holdings Inc.'s chief executive officer, as a beneficiary of weighted voting rights.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/22/2026 - 06:08 AM EDT Accepted by SEC EDGAR 10/22/2026 - 06:08 AM EDT 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^*

Peng Yongdong

(Last) (First) (Middle)

ORIENTAL ELECTRONIC TECHNOLOGY BUILDING

NO. 2 CHUANGYE ROAD, HAIDIAN DISTRICT

(Street)

BEIJING 100086

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
KE Holdings Inc. [ BEKE ]

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

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

2a. Foreign Trading Symbol
[SEHK: 2423]

3. Date of Earliest Transaction (Month/Day/Year)
10/20/2026

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
Class A ordinary shares	10/20/2026		J		526,428(1)	A	$0	63,350,679	I	By controlled corporation
Class B ordinary shares	10/20/2026		J		526,428(1)	D	$0	93,555,863	I	By controlled corporation

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

Explanation of Responses:

1. On October 20, 2026, 14,308,821 Class A ordinary shares represented by repurchased ADSs and 4,915,600 Class A ordinary shares repurchased on the SEHK were cancelled. As a result, Mr. Peng, as a beneficiary of weighted voting rights (as defined under the Hong Kong Listing Rules), converted 526,428 Class B ordinary shares into Class A ordinary shares on 1:1 ratio under the Hong Kong Listing Rules.

	/s/PENG Yongdong	10/22/2026
	** 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)