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KE Holdings director RSUs vest, new 4,588-ADS grant

KE Holdings director Zhu Hansong reports RSU vesting, a new RSU grant and ADS withholding for tax or exercise obligations.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

KE Holdings Inc. (BEKE) director Zhu Hansong reported equity compensation activity involving American Depositary Shares (ADSs) and Restricted Share Units (RSUs). On September 2, 2026, RSUs corresponding to 3,750 ADSs vested and were converted into 3,750 ADSs, each ADS representing three Class A ordinary shares. On the same date, Zhu received a new award of RSUs evidencing a contingent right to receive 4,588 ADSs, scheduled to vest on September 2, 2027. On September 3, 2026, 803 ADSs were delivered or withheld at a weighted average price of $17.7309 per ADS for payment of exercise price or tax liability. No Rule 10b5-1 trading plan is reported.

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Insider Zhu Hansong
Role Director
Type Security Shares Price Value
Exercise Price or Tax Liability American Depositary Shares F1, F3 803 $17.7309 $14K
Exercise Restricted Share Units F2, F4 3,750 $0.00 $0.00
Grant/Award Restricted Share Units F5, F6 4,588 $0.00 $0.00
Exercise American Depositary Shares F1, F2 3,750 $0.00 $0.00
Holdings After Transaction: Restricted Share Units — 4,588 contracts (Direct); American Depositary Shares — 18,271 shares (Direct)
Footnotes (6)
  1. F1. Each American Depositary Share (ADS) represents three Class A ordinary shares of the issuer.
  2. F2. Acquired upon vesting of Restricted Share Units.
  3. F3. The price reported above reflects the weighted average price.
  4. F4. Restricted Share Units corresponding to 3,750 ADSs (representing 11,250 Class A ordinary shares) vested on September 2, 2026.
  5. F5. These Restricted Share Units evidence the contingent right to receive 4,588 ADSs upon vesting.
  6. F6. Restricted Share Units corresponding to 4,588 ADSs (representing 13,764 Class A ordinary shares) that were granted on September 2, 2026 and will vest on September 2, 2027.
ADSs vested from RSUs 3,750 ADSs RSUs corresponding to 3,750 ADSs vested on September 2, 2026
New RSU grant (ADS equivalent) 4,588 ADSs Restricted Share Units granted September 2, 2026, vesting September 2, 2027
ADSs withheld or delivered 803 ADSs Used on September 3, 2026 for payment of exercise price or tax liability
Weighted average price per ADS $17.7309 per ADS Price for the 803 ADSs delivered or withheld on September 3, 2026
ADS-to-ordinary share ratio 1 ADS : 3 Class A ordinary shares Each American Depositary Share represents three Class A ordinary shares
Ordinary shares from vested RSUs 11,250 Class A ordinary shares Underlying shares for RSUs corresponding to 3,750 ADSs vested September 2, 2026
Ordinary shares from new RSU grant 13,764 Class A ordinary shares Underlying shares for RSUs corresponding to 4,588 ADSs granted September 2, 2026
Restricted Share Units financial
"Restricted Share Units corresponding to 3,750 ADSs vested on September 2, 2026"
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 financial
"Each American Depositary Share (ADS) represents three Class A ordinary shares"
American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.
weighted average price financial
"The price reported above reflects the 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.
contingent right financial
"These Restricted Share Units evidence the contingent right to receive 4,588 ADSs"

FAQ

What equity transactions did BEKE director Zhu Hansong report on this Form 4?
Zhu Hansong reported RSUs corresponding to 3,750 ADSs vesting into ADSs on September 2, 2026, a new grant of RSUs for 4,588 ADSs on the same date, and the delivery or withholding of 803 ADSs on September 3, 2026 for exercise price or tax liability.

How many KE Holdings (BEKE) ADSs vested for Zhu Hansong and when?
Restricted Share Units corresponding to 3,750 ADSs vested on September 2, 2026. These vested RSUs represented 11,250 Class A ordinary shares, because each ADS represents three Class A ordinary shares of KE Holdings Inc.

What new RSU award did KE Holdings (BEKE) grant to Zhu Hansong?
On September 2, 2026, Zhu Hansong was granted Restricted Share Units evidencing a contingent right to receive 4,588 ADSs, representing 13,764 Class A ordinary shares. These RSUs will vest on September 2, 2027, subject to the award’s vesting conditions.

Why were 803 KE Holdings (BEKE) ADSs withheld or delivered on September 3, 2026?
On September 3, 2026, 803 ADSs were delivered or withheld to pay the exercise price or tax liability related to equity compensation. The reported price of $17.7309 per ADS is disclosed as a weighted average price for that transaction.

What is the ADS-to-ordinary share ratio for KE Holdings (BEKE) reported here?
Each KE Holdings American Depositary Share (ADS) represents three Class A ordinary shares of the issuer. This ratio applies to both the vested RSUs (3,750 ADSs equalling 11,250 ordinary shares) and the new RSU grant (4,588 ADSs equalling 13,764 ordinary shares).

Was a Rule 10b5-1 trading plan involved in Zhu Hansong’s BEKE transactions?
No. The filing indicates the Rule 10b5-1 checkbox is not marked and there is no footnote stating that the reported transactions were made pursuant to a Rule 10b5-1 trading plan or other pre-arranged trading arrangement.

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SEC Form 4
FORM 4UNITED 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*
Zhu Hansong
(Last)(First)(Middle)
20-2-801, YI AN JIA YUAN
BEIWA ROAD, HAIDIAN DISTRICT
(Street)
BEIJING100089
(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
[SEHK: 2423]
3. Date of Earliest Transaction (Month/Day/Year)
09/02/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
American Depositary Shares(1)09/02/2026M3,750A$0(2)19,074D
American Depositary Shares(1)09/03/2026F803D$17.7309(3)18,271D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Share Units(2)09/02/2026M3,750 (4) (4)American Depositary Shares3,750$00D
Restricted Share Units(5)09/02/2026A4,588 (6) (6)American Depositary Shares4,588$04,588D
Explanation of Responses:
1. Each American Depositary Share (ADS) represents three Class A ordinary shares of the issuer.
2. Acquired upon vesting of Restricted Share Units.
3. The price reported above reflects the weighted average price.
4. Restricted Share Units corresponding to 3,750 ADSs (representing 11,250 Class A ordinary shares) vested on September 2, 2026.
5. These Restricted Share Units evidence the contingent right to receive 4,588 ADSs upon vesting.
6. Restricted Share Units corresponding to 4,588 ADSs (representing 13,764 Class A ordinary shares) that were granted on September 2, 2026 and will vest on September 2, 2027.
/s/ZHU Hansong09/04/2026
** Signature of Reporting PersonDate
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