What is the ADS to ordinary share ratio for KE Holdings Inc. (BEKE)?

Each American Depositary Share (ADS) of KE Holdings Inc. represents three Class A ordinary shares of the issuer, as stated in the Form 4 footnotes.

KE Holdings director gets 10,704 RSUs, 8,750 vest

Q: What transactions did BEKE director Chen Xiaohong report on this Form 4?

The director reported RSUs corresponding to 8,750 ADSs vesting and converting into ADSs, a new grant of RSUs corresponding to 10,704 ADSs, and the disposition of 1 ADS to pay exercise price or tax liability.

BEKE director Chen Xiaohong reported RSU vesting, a new RSU grant, and one ADS withheld or delivered for tax or exercise obligations.

Filing Impact

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Filing Sentiment

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Form Type

Rhea-AI Filing Summary

KE Holdings Inc. (BEKE) director Chen Xiaohong reported equity compensation activity involving American Depositary Shares (ADSs) and Restricted Share Units (RSUs). On September 2, 2026, RSUs corresponding to 8,750 ADSs vested and were converted into ADSs, and a new award of 10,704 RSU-linked ADSs was granted, scheduled to vest on September 2, 2027. On September 3, 2026, 1 ADS was withheld or delivered at $17.73 per ADS for payment of exercise price or tax liability. Each ADS represents three Class A ordinary shares of KE Holdings Inc.

Insider Trade Summary

8,750 shares exercised/converted

Exercise 4 txns

Insider Chen Xiaohong

Role Director

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	American Depositary Shares ^F1	1	$17.73	$17.73
Exercise	Restricted Share Units ^{F2, F3}	8,750	$0.00	$0.00
Grant/Award	Restricted Share Units ^{F4, F5}	10,704	$0.00	$0.00
Exercise	American Depositary Shares ^{F1, F2}	8,750	$0.00	$0.00

Holdings After Transaction: Restricted Share Units — 10,704 contracts (Direct); American Depositary Shares — 55,345 shares (Direct)

Footnotes (5)

F1. Each American Depositary Share (ADS) represents three Class A ordinary shares of the issuer.
F2. Acquired upon vesting of Restricted Share Units.
F3. Restricted Share Units corresponding to 8,750 ADSs (representing 26,250 Class A ordinary shares) vested on September 2, 2026.
F4. These Restricted Share Units evidence the contingent right to receive 10,704 ADSs upon vesting.
F5. Restricted Share Units corresponding to 10,704 ADSs (representing 32,112 Class A ordinary shares) that were granted on September 2, 2026 and will vest on September 2, 2027.

Key Figures

ADSs vested from RSUs: 8,750 ADSs New RSU-linked ADSs granted: 10,704 ADSs ADS withheld or delivered: 1 ADS +4 more

7 metrics

ADSs vested from RSUs 8,750 ADSs RSUs corresponding to 8,750 ADSs vested on September 2, 2026

New RSU-linked ADSs granted 10,704 ADSs RSUs granted on September 2, 2026, vesting on September 2, 2027

ADS withheld or delivered 1 ADS Disposed on September 3, 2026 for exercise price or tax liability

Price per ADS for tax/exercise disposition $17.73 per ADS Applied to 1 ADS on September 3, 2026

ADS to ordinary share ratio 1 ADS : 3 Class A ordinary shares Each ADS represents three Class A ordinary shares

Ordinary shares from vested RSUs 26,250 Class A ordinary shares Represented by 8,750 ADSs vested on September 2, 2026

Ordinary shares underlying new RSUs 32,112 Class A ordinary shares Represented by 10,704 ADSs granted on September 2, 2026

Key Terms

American Depositary Shares, Restricted Share Units, Class A ordinary shares, contingent right to receive

4 terms

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.

Class A ordinary shares financial

"representing 26,250 Class A ordinary shares"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

contingent right to receive financial

"These Restricted Share Units evidence the contingent right to receive 10,704 ADSs"

FAQ

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

What transactions did BEKE director Chen Xiaohong report on this Form 4?

The director reported RSUs corresponding to 8,750 ADSs vesting and converting into ADSs, a new grant of RSUs corresponding to 10,704 ADSs, and the disposition of 1 ADS to pay exercise price or tax liability.

How many KE Holdings Inc. (BEKE) ADSs vested for Chen Xiaohong?

RSUs corresponding to 8,750 ADSs vested on September 2, 2026, representing 26,250 Class A ordinary shares, and were acquired as ADSs according to the filing’s footnotes.

What new RSUs did Chen Xiaohong receive in BEKE and when do they vest?

Chen Xiaohong received Restricted Share Units evidencing a contingent right to receive 10,704 ADSs, representing 32,112 Class A ordinary shares, granted on September 2, 2026 and scheduled to vest on September 2, 2027.

Were any BEKE ADSs sold on the open market in this Form 4?

No open-market sales are reported. The filing shows one ADS disposed of on September 3, 2026 for payment of exercise price or tax liability, and other entries relate to RSU vesting and a grant.

Was a Rule 10b5-1 trading plan used for Chen Xiaohong’s BEKE transactions?

The filing does not report the transactions as made under a Rule 10b5-1 trading plan; the document-level indicator for such a plan is unchecked.

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

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Available on EDGAR 09/04/2026 - 06:49 AM EDT Accepted by SEC EDGAR 09/04/2026 - 06:49 AM EDT

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^*

Chen Xiaohong

(Last)

(First)

(Middle)

SUITE 2202, BUILDING C, YINTAI CENTER

2 JIANGUOMENWAI AVE., CHAOYANG DISTRICT

(Street)

BEIJING

100022

(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
	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)

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)
American Depositary Shares⁽¹⁾	09/02/2026		M		8,750	A	$0⁽²⁾	55,346	D
American Depositary Shares⁽¹⁾	09/03/2026		F		1	D	$17.73	55,345	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	⁽²⁾	09/02/2026		M			8,750	⁽³⁾	⁽³⁾	American Depositary Shares	8,750	$0	0	D
Restricted Share Units	⁽⁴⁾	09/02/2026		A		10,704		⁽⁵⁾	⁽⁵⁾	American Depositary Shares	10,704	$0	10,704	D

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. Restricted Share Units corresponding to 8,750 ADSs (representing 26,250 Class A ordinary shares) vested on September 2, 2026.

4. These Restricted Share Units evidence the contingent right to receive 10,704 ADSs upon vesting.

5. Restricted Share Units corresponding to 10,704 ADSs (representing 32,112 Class A ordinary shares) that were granted on September 2, 2026 and will vest on September 2, 2027.

	/s/CHEN Xiaohong	09/04/2026
	** 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