Bilibili grants CEO Chen Rui 4M RSUs

Bilibili’s CEO and chairman Chen Rui was granted 4,000,000 RSUs tied to Class Z ordinary shares vesting over four years as equity compensation.

Rhea-AI Filing Summary

Bilibili Inc. (BILI) reported that Chen Rui, its Chairman of the Board, CEO, and a more than ten percent owner, received a grant of 4,000,000 restricted share units (RSUs) on September 16, 2026. Each RSU represents a contingent right to receive one Class Z ordinary share after vesting over a four-year period.

The grant was reported as a direct acquisition with a stated price of $0.00 per share, reflecting compensation rather than a market purchase, and results in reported direct holdings of 4,000,000 Class Z ordinary shares underlying the RSUs. No Rule 10b5-1 trading plan is reported for this award.

Insider Trade Summary

Grant/Award: 4,000,000 shares

Grant/Award 1 txn

Insider Chen Rui

Role Chairman of the Board and CEO

Type	Security	Shares	Price	Value
Grant/Award	Class Z ordinary shares F1	4,000,000	$0.00	$0.00

Holdings After Transaction: Class Z ordinary shares — 4,000,000 shares (Direct)

Footnotes (1)

1. F1. Represents 4,000,000 restricted share units (RSUs) granted on September 16, 2026, the vesting period of which is four years. Each RSU represents a contingent right to receive one Class Z ordinary share of the Issuer.

Key Figures

RSUs granted: 4,000,000 units Transaction price per share: $0.00 per share Shares following transaction: 4,000,000 shares +2 more

5 metrics

RSUs granted 4,000,000 units Restricted share units granted to Chen Rui on September 16, 2026

Transaction price per share $0.00 per share Stated price for the RSU grant to Chen Rui

Shares following transaction 4,000,000 shares Class Z ordinary shares underlying RSUs reported as directly held after the grant

Vesting period 4 years Vesting period for the 4,000,000 RSUs granted to Chen Rui

Transaction date September 16, 2026 Date of RSU grant to Chen Rui

Key Terms

restricted share units (RSUs), Class Z ordinary shares, contingent right, vesting period

4 terms

restricted share units (RSUs) financial

"Represents 4,000,000 restricted share units (RSUs) granted on September 16, 2026"

Restricted share units (RSUs) are a form of employee pay where a company promises to give shares (or their cash value) to workers after certain conditions, usually time or performance, are met. For investors, RSUs matter because they can increase the number of shares outstanding and signal how management is being paid and incentivized—think of them as delayed bonuses that convert into ownership when vesting conditions are satisfied.

Class Z ordinary shares financial

"Each RSU represents a contingent right to receive one Class Z ordinary share"

Class Z ordinary shares are a labeled category of common stock whose specific rights—such as voting power, dividend claims, transfer rules or conversion features—are set by the issuing company’s governing documents. For investors, the label alone doesn’t guarantee particular privileges: the exact economic and control effects depend on the company’s rules, so understanding those terms is like checking which keys on a key ring open which doors before deciding which key to buy.

contingent right financial

"Each RSU represents a contingent right to receive one Class Z ordinary share"

vesting period financial

"the vesting period of which is four years"

A vesting period is the set amount of time someone must wait before they fully own granted shares, stock options, or other equity tied to their work or an agreement; ownership increases gradually or in steps during that time. Investors care because vesting determines when insiders or employees can sell shares, which affects future supply of stock, company incentives and executive retention—think of it like unlocking ownership over installments rather than receiving it all at once.

FAQ

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

What did Bilibili Inc. (BILI) disclose about Chen Rui’s new equity award?

Bilibili Inc. disclosed that Chen Rui received a grant of 4,000,000 restricted share units (RSUs) on September 16, 2026. Each RSU represents a contingent right to receive one Class Z ordinary share, vesting over four years as part of his equity compensation.

How many BILI Class Z ordinary shares are tied to Chen Rui’s RSU grant?

The award consists of 4,000,000 restricted share units (RSUs), and each RSU represents a contingent right to receive one Class Z ordinary share of Bilibili Inc., subject to the four-year vesting schedule described in the filing footnote.

What is the vesting schedule for Chen Rui’s 4,000,000 BILI RSUs?

The filing states that the 4,000,000 RSUs granted to Chen Rui on September 16, 2026 have a vesting period of four years. Each RSU represents a contingent right to receive one Class Z ordinary share upon satisfaction of the vesting conditions.

Was Chen Rui’s BILI RSU grant a market purchase of shares?

No. The filing characterizes the transaction as a grant, award, or other acquisition of 4,000,000 RSUs at a stated price of $0.00 per share, reflecting an equity compensation award rather than a purchase on the open market.

Does Chen Rui’s RSU grant under BILI involve a Rule 10b5-1 plan?

No. The document-level indicator for Rule 10b5-1 plans is unchecked, and no footnote states otherwise. The RSU grant of 4,000,000 units to Chen Rui is not reported as being made under a Rule 10b5-1 trading plan.

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

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Available on EDGAR 09/18/2026 - 06:06 AM Accepted by SEC EDGAR 09/18/2026 - 06:06 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^*

Chen Rui

(Last) (First) (Middle)

C/O BILIBILI INC., BLDG. 3 GUOZHENG CNTR

NO. 485 ZHENGLI ROAD, YANGPU DISTRICT

(Street)

SHANGHAI 200433

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Bilibili Inc. [ BILI ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman of the Board and CEO

2a. Foreign Trading Symbol
[HKEX: 9626]

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2026

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 Z ordinary shares(1)	09/16/2026		A		4,000,000	A	$0	4,000,000	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents 4,000,000 restricted share units (RSUs) granted on September 16, 2026, the vesting period of which is four years. Each RSU represents a contingent right to receive one Class Z ordinary share of the Issuer.

	/s/ Rui Chen	09/18/2026
	** 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)