KE Holdings CEO converts 981K Class B to Class A

KE Holdings Inc. director and CEO Peng Yongdong reported an internal share reclassification involving 981,459 shares.

Rhea-AI Filing Summary

KE Holdings Inc. director and CEO Peng Yongdong reported an internal share reclassification involving 981,459 shares. Following the move, a controlled corporation associated with him holds 77,269,602 Class A ordinary shares and 95,670,923 Class B ordinary shares indirectly. According to the footnote, after 35,841,564 Class A ordinary shares represented by repurchased ADSs and two additional Class A shares were canceled, 981,459 Class B ordinary shares were converted into Class A ordinary shares on a 1:1 basis under the Hong Kong Listing Rules, reflecting a shift between share classes rather than an open-market trade.

Insider Trade Summary

Other: 1,962,918 shares

Other 2 txns

Insider Peng Yongdong

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Other	Class A ordinary shares	981,459	$0.00	$0.00
Other	Class B ordinary shares	981,459	$0.00	$0.00

Holdings After Transaction: Class A ordinary shares — 77,269,602 shares (Indirect, By controlled corporation); Class B ordinary shares — 95,670,923 shares (Indirect, By controlled corporation)

Footnotes (1)

1. F1. On April 7, 2026, 35,841,564 Class A ordinary shares represented by repurchased ADSs and two Class A ordinary shares surrendered by a shareholder were canceled. As a result, Mr. Peng, as a beneficiary of weighted voting rights (as defined under the Hong Kong Listing Rules), converted 981,459 Class B ordinary shares into Class A ordinary shares on 1:1 ratio under the Hong Kong Listing Rules.

Key Figures

Converted shares: 981,459 shares Class A holdings after: 77,269,602 shares Class B holdings after: 95,670,923 shares +2 more

5 metrics

Converted shares 981,459 shares Class B ordinary shares converted into Class A on 1:1 basis

Class A holdings after 77,269,602 shares Indirect Class A ordinary shares following transaction

Class B holdings after 95,670,923 shares Indirect Class B ordinary shares following transaction

Canceled Class A shares 35,841,564 shares Class A ordinary shares represented by repurchased ADSs canceled

Additional surrendered Class A 2 shares Class A ordinary shares surrendered by a shareholder and canceled

Key Terms

Class A ordinary shares, Class B ordinary shares, weighted voting rights, controlled corporation, +1 more

5 terms

Class A ordinary shares financial

"35,841,564 Class A ordinary shares represented by repurchased ADSs"

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.

Class B ordinary shares financial

"converted 981,459 Class B ordinary shares into Class A ordinary shares"

Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.

weighted voting rights financial

"Mr. Peng, as a 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.

controlled corporation financial

"nature_of_ownership": "By controlled corporation""

Hong Kong Listing Rules regulatory

"on 1:1 ratio 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 insider transaction did KE Holdings (BEKE) report for Peng Yongdong?

KE Holdings reported an internal share-class change for CEO Peng Yongdong involving 981,459 shares. A controlled corporation associated with him converted 981,459 Class B ordinary shares into Class A ordinary shares on a 1:1 basis, without an open-market purchase or sale.

How many KE Holdings Class A and Class B shares does Peng Yongdong hold after this Form 4?

After the restructuring, a controlled corporation associated with Peng Yongdong holds 77,269,602 Class A ordinary shares and 95,670,923 Class B ordinary shares indirectly. These figures reflect his reported beneficial holdings following the 981,459-share conversion from Class B into Class A.

Was the KE Holdings (BEKE) Form 4 a buy or sell of shares?

The Form 4 did not report a buy or sell. It recorded an “other” transaction, where 981,459 Class B ordinary shares were converted into Class A ordinary shares on a 1:1 basis, reflecting a restructuring between share classes rather than a market trade.

Why were KE Holdings shares converted between Class B and Class A for Peng Yongdong?

The footnote explains that 35,841,564 Class A ordinary shares represented by repurchased ADSs and two additional Class A shares were canceled. As a result, 981,459 Class B ordinary shares benefiting Peng Yongdong’s weighted voting rights were converted into Class A ordinary shares under Hong Kong Listing Rules.

Are Peng Yongdong’s KE Holdings shares held directly or indirectly?

The reported holdings are indirect. The Form 4 states that the Class A and Class B ordinary shares are held “by controlled corporation,” meaning an entity associated with Peng Yongdong, rather than directly in his own name, reflecting indirect beneficial ownership.

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

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Accepted by SEC EDGAR 04/09/2026 - 06:23 AM 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 CHINA 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)
04/07/2026

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	04/07/2026		J		981,459(1)	A	$0	77,269,602	I	By controlled corporation
Class B ordinary shares	04/07/2026		J		981,459(1)	D	$0	95,670,923	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 April 7, 2026, 35,841,564 Class A ordinary shares represented by repurchased ADSs and two Class A ordinary shares surrendered by a shareholder were canceled. As a result, Mr. Peng, as a beneficiary of weighted voting rights (as defined under the Hong Kong Listing Rules), converted 981,459 Class B ordinary shares into Class A ordinary shares on 1:1 ratio under the Hong Kong Listing Rules.

	/s/PENG Yongdong	04/09/2026
	** 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)