Kanzhun (BZ) trust linked to CEO sells 128,000 Class A shares

Rhea-AI Filing Summary

Kanzhun Ltd reported that entity Techwolf Limited, associated with Chief Executive Officer Jonathan Zhao Peng, sold a total of 128,000 Class A ordinary shares in open-market transactions. The sales occurred on March 18 and 19, 2026 at weighted average prices of $6.9837 and $6.7455 per share.

The transactions were executed under a Rule 10b5-1 trading plan adopted on September 30, 2025. After these trades, Techwolf Limited holds 512,000 Class A ordinary shares and 126,526,401 Class B ordinary shares indirectly. The Class A shares are held through ADSs, with each ADS representing two Class A ordinary shares.

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).

X

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^*

Zhao Peng Jonathan

(Last) (First) (Middle)

21/F, GRANDYVIC BUILDING, TAIYANGGONG

MIDDLE ROAD CHAOYANG DISTRICT

(Street)

BEIJING F4 100028

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Kanzhun Ltd [ BZ ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol
[[HKEX: 2076]]

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

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 B ordinary shares								126,526,401	I	By Techwolf Limited(1)
Class A ordinary shares(2)	03/18/2026		S(3)		64,000	D	$6.9837(4)	576,000	I	By Techwolf Limited(1)
Class A ordinary shares(2)	03/19/2026		S(3)		64,000	D	$6.7455(5)	512,000	I	By Techwolf Limited(1)

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. By Techwolf Limited, a British Virgin Islands company. The entire interest in Techwolf Limited is held by a trust established by Mr. Peng Zhao as the settlor for the benefit of Mr. Zhao and his family.

2. These Class A ordinary shares are held through American Depositary Shares ("ADS") of the issuer. Each ADS represents two Class A ordinary shares.

3. The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 30, 2025.

4. Represents weighted average sales price. The shares were sold at prices ranging from $6.8450 to $7.2573. The Reporting Person will provide upon request, to the Securities and Exchange Commission (the "SEC"), the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

5. Represents weighted average sales price. The shares were sold at prices ranging from $6.6075 to $6.8482. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

	/s/ Peng Zhao	03/20/2026
	** 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)

FAQ

What insider transactions did Kanzhun (BZ) disclose in this Form 4?

Kanzhun disclosed that Techwolf Limited, an entity associated with CEO Jonathan Zhao Peng, sold 128,000 Class A ordinary shares in two open-market transactions. These trades were reported as indirect sales of non-derivative securities executed on March 18 and 19, 2026.

How many Kanzhun Class A shares were sold and at what prices?

A total of 128,000 Class A ordinary shares were sold, split into two blocks of 64,000 shares. The weighted average prices were $6.9837 on March 18, 2026 and $6.7455 on March 19, 2026, with individual trade prices disclosed in stated ranges.

Who executed the Kanzhun insider sales and how are the shares held?

The sales were executed by Techwolf Limited, a British Virgin Islands company whose entire interest is held by a trust established by Jonathan Zhao Peng for himself and his family. The reported Class A ordinary shares are held through American Depositary Shares, each ADS representing two Class A shares.

Were the Kanzhun insider sales made under a Rule 10b5-1 trading plan?

Yes. The filing states that the reported transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 30, 2025. Such pre-arranged plans automate trading according to preset instructions, reducing the significance of short-term market timing.

What are the remaining Kanzhun holdings for the entity linked to the CEO?

Following the reported sales, Techwolf Limited holds 512,000 Class A ordinary shares and 126,526,401 Class B ordinary shares indirectly. These figures show that the sold 128,000 Class A shares are small relative to the total indirect position still reported for the trust-linked entity.

How are Kanzhun ADSs related to the reported Class A ordinary shares?

The filing explains that the Class A ordinary shares are held through American Depositary Shares (ADS) of Kanzhun. Each ADS represents two Class A ordinary shares, meaning the economic exposure reported is packaged into ADS instruments for trading on the relevant exchange.