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KE Holdings (BEKE) director shifts 372,320 Class B shares into Class A in restructuring

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

Rhea-AI Filing Summary

KE Holdings Inc. executive director Shan Yigang, through Clover Rich Limited, reported internal restructuring transactions involving both share classes. On June 8, 2026, 372,320 Class B ordinary shares were converted into 372,320 Class A ordinary shares at a 1:1 ratio with no cash price. Following these changes, indirect holdings stood at 41,137,835 Class B ordinary shares and 56,877,895 Class A ordinary shares. The filing describes these moves as “other” transactions related to capital structure and weighted voting rights, not open-market buying or selling.

Positive

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Negative

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Insider Shan Yigang
Role Executive Director
Type Security Shares Price Value
Other Class A ordinary shares 372,320 $0.00 --
Other Class B ordinary shares 372,320 $0.00 --
Holdings After Transaction: Class A ordinary shares — 56,877,895 shares (Indirect, By Clover Rich Limited); Class B ordinary shares — 41,137,835 shares (Indirect, By Clover Rich Limited)
Footnotes (1)
  1. [object Object]
Share conversion 372,320 shares Class B ordinary shares converted into Class A on June 8, 2026
Restructuring shares 744,640 shares Total shares involved in restructuring transactions (code J)
Post-transaction Class A holdings 56,877,895 shares Class A ordinary shares indirectly held after transaction
Post-transaction Class B holdings 41,137,835 shares Class B ordinary shares indirectly held after transaction
Transaction price $0.0000 per share Listed price for both Class A and Class B restructuring entries
Class A ordinary shares financial
"372,320 Class B ordinary shares were converted into 372,320 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.
Class B ordinary shares financial
"372,320 Class B ordinary shares were converted into 372,320 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. Shan, as a beneficiary of weighted voting rights, converted 372,320 Class B ordinary shares"
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 financial
"31,336,908 Class A ordinary shares represented by repurchased ADSs ... were canceled"
other acquisition or disposition financial
"The transaction was classified as an “other acquisition or disposition” event"
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Form 4 Insider Transactions: What Each Field Means →
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*
Shan Yigang
(Last)(First)(Middle)
ORIENTAL ELECTRONIC TECHNOLOGY BUILDING
NO. 2 CHUANGYE ROAD, HAIDIAN DISTRICT
(Street)
BEIJINGCHINA100086
(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
XOfficer (give title below)Other (specify below)
Executive Director
2a. Foreign Trading Symbol
[SEHK: 2423]
3. Date of Earliest Transaction (Month/Day/Year)
06/08/2026		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
Class A ordinary shares06/08/2026J372,320(1)A$056,877,895IBy Clover Rich Limited
Class B ordinary shares06/08/2026J372,320(1)D$041,137,835IBy Clover Rich Limited
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
Explanation of Responses:
1. On June 8, 2026, 31,336,908 Class A ordinary shares represented by repurchased ADSs and two Class A ordinary shares surrendered by a shareholder were canceled. As a result, Mr. Shan, as a beneficiary of weighted voting rights (as defined under the Hong Kong Listing Rules), converted 372,320 Class B ordinary shares into Class A ordinary shares on 1:1 ratio under the Hong Kong Listing Rules.
/s/SHAN Yigang06/10/2026
** 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

FAQ

What insider transaction did KE Holdings (BEKE) report for Shan Yigang?

KE Holdings reported that executive director Shan Yigang, via Clover Rich Limited, converted 372,320 Class B ordinary shares into 372,320 Class A ordinary shares. The transaction was classified as an “other” restructuring event, not a market purchase or sale.

How many KE Holdings Class A shares does Shan Yigang hold after this Form 4?

After the reported restructuring, Shan Yigang indirectly holds 56,877,895 Class A ordinary shares of KE Holdings through Clover Rich Limited. These holdings reflect the conversion of 372,320 Class B shares into the same number of Class A shares at a 1:1 ratio.

How many KE Holdings Class B shares does Shan Yigang hold after the restructuring?

Following the June 8, 2026 transactions, Shan Yigang indirectly holds 41,137,835 Class B ordinary shares of KE Holdings. This balance is after converting 372,320 Class B shares into Class A shares as part of an internal capital structure adjustment.

Was there any cash consideration in Shan Yigang’s KE Holdings share conversion?

No cash consideration was reported for Shan Yigang’s share conversion. The Form 4 lists a transaction price per share of 0.0000 for the 372,320 Class B and 372,320 Class A ordinary share entries, indicating a non-cash internal restructuring between share classes.

Why did KE Holdings convert 372,320 Class B shares into Class A shares?

The footnote explains that on June 8, 2026, 31,336,908 Class A shares from repurchased ADSs and two surrendered Class A shares were canceled. As a beneficiary of weighted voting rights, Shan converted 372,320 Class B shares into Class A shares at a 1:1 ratio.

Does the KE Holdings Form 4 for Shan Yigang show open-market buying or selling?

The Form 4 does not show open-market buying or selling. Both entries use transaction code “J” and are described as “other acquisition or disposition,” tied to internal restructuring and conversion of share classes rather than purchases or sales on the market.