Kanzhun CEO unit sells 15.2M shares in block trade

Kanzhun Ltd (BZ) reported that Chief Executive Officer and director Zhao Peng Jonathan, through affiliated entity Techwolf Limited, undertook several indirect share transactions.

Rhea-AI Filing Summary

Kanzhun Ltd (BZ) reported that Chief Executive Officer and director Zhao Peng Jonathan, through affiliated entity Techwolf Limited, undertook several indirect share transactions. On September 21, 2026, Techwolf sold an aggregate 15,170,000 Class A ordinary shares in a block trade on The Stock Exchange of Hong Kong Limited at HK$56.90 (about US$7.2484) per share, with no Rule 10b5-1 trading plan reported. Of these, 4,459,560 were existing Class A shares and 10,710,440 were Class A shares issued upon conversion of an equal number of Class B shares in connection with the sale. On September 17, 2026, Techwolf also converted 1,635,480 Class B ordinary shares into the same number of Class A shares on a one-to-one basis to comply with Hong Kong Listing Rules on weighted voting rights, a step that did not change the total ordinary shares in which Zhao is interested.

Insider Trade Summary

Net Seller: 15,170,000 shares

Net Sell 4 txns

Insider Zhao Peng Jonathan

Role Chief Executive Officer

Sold 15,170,000 shs ($109.96M)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares F2	4,459,560	$7.2484	$32.32M
Sale	Class B ordinary shares F2, F3	10,710,440	$7.2484	$77.63M
Other	Class B ordinary shares F1	1,635,480	$0.00	$0.00
Other	Class A ordinary shares F1	1,635,480	$0.00	$0.00

Holdings After Transaction: Class A ordinary shares — 0 shares (Indirect, By Techwolf Limited); Class B ordinary shares — 110,996,801 shares (Indirect, By Techwolf Limited)

Footnotes (3)

1. F1. The conversion reported in the two lines dated September 17, 2026 did not change the total number of ordinary shares in which Mr. Peng Zhao is interested as previously disclosed. The conversion was effected to comply with an obligation under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Following the issuer's cancellation of Class A ordinary shares repurchased by the issuer, Mr. Peng Zhao, as the weighted voting rights ("WVR") beneficiary of the issuer, proportionately reduced his WVR by converting his Class B ordinary shares into Class A ordinary shares on a one-to-one ratio pursuant to Rule 8A.21 of the Listing Rules, so that the proportion of the issuer's shares carrying WVR of the issuer would not be increased, in compliance with the requirements under Rules 8A.13 and 8A.15 of the Listing Rules.
2. F2. On September 21, 2026, Techwolf Limited sold an aggregate of 15,170,000 Class A ordinary shares by way of a block trade at the price of HK$56.90 per share on The Stock Exchange of Hong Kong Limited. The price reported herein was converted from Hong Kong dollars to United States dollars at a conversion price of HK$7.85 to US$1.00.
3. F3. Of the 15,170,000 Class A ordinary shares sold, 4,459,560 were Class A ordinary shares held by Techwolf Limited. The remaining 10,710,440 shares sold are Class A ordinary shares issuable upon the conversion, in connection with the sale, of the same number of Class B ordinary shares held by Techwolf Limited on a one-to-one basis pursuant to the issuer's articles of association.

Key Figures

Block trade shares sold: 15,170,000 shares Block trade price (HKD): HK$56.90 per share Block trade price (USD equivalent): US$7.2484 per share +4 more

7 metrics

Block trade shares sold 15,170,000 shares Class A ordinary shares sold by Techwolf Limited on September 21, 2026

Block trade price (HKD) HK$56.90 per share Price for Class A ordinary shares sold on The Stock Exchange of Hong Kong Limited

Block trade price (USD equivalent) US$7.2484 per share Converted using HK$7.85 to US$1.00 as disclosed

Existing Class A shares in block trade 4,459,560 shares Class A ordinary shares held by Techwolf Limited included in the 15,170,000 shares sold

Class B converted for sale 10,710,440 shares Class B ordinary shares converted into Class A in connection with the September 21, 2026 sale

Compliance-related conversion 1,635,480 shares Class B ordinary shares converted into Class A on September 17, 2026 to adjust weighted voting rights

Net shares sold 15,170,000 shares Net sell direction across reported transactions, as summarized in the filing

Key Terms

weighted voting rights, block trade, Rule 8A.21, Listing Rules, +1 more

5 terms

weighted voting rights regulatory

"Mr. Peng Zhao, as the weighted voting rights ("WVR") beneficiary of the issuer"

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.

block trade financial

"sold an aggregate of 15,170,000 Class A ordinary shares by way of a block trade"

A block trade is a large, privately arranged sale or purchase of a company's shares or bonds between big investors, often negotiated to avoid upsetting the public market price. Think of it like selling a truckload of goods directly to one buyer instead of unloading it on a busy street — it moves a lot of supply at once and can signal shifting demand, affect immediate liquidity, and influence short-term stock prices.

Rule 8A.21 regulatory

"on a one-to-one ratio pursuant to Rule 8A.21 of the Listing Rules"

Listing Rules regulatory

"to comply with an obligation under the Rules Governing the Listing of Securities"

Listing rules are the set of requirements a stock exchange and regulators impose on companies to join and stay on the exchange, covering things like financial reporting, disclosures, governance and minimum size. They matter to investors because those rules create a basic level of transparency and behavior—think of them as marketplace rules that make it easier to compare sellers, reduce surprises, and protect liquidity and value; breaking the rules can lead to fines, trading suspensions or delisting.

articles of association regulatory

"on a one-to-one basis pursuant to the issuer's articles of association"

A company's articles of association are its written rulebook that sets how the business is run, how decisions are made, and what rights owners and directors have—covering voting, meetings, appointment and removal of directors, share classes and dividend policies. For investors, these rules matter because they determine how easily control can change, what protections minority owners have, and how corporate actions (like issuing new shares or changing leadership) are approved, much like a home’s bylaws shaping what residents can and cannot do.

FAQ

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

What insider transactions did Kanzhun Ltd (BZ) disclose for September 2026?

Kanzhun disclosed that Techwolf Limited, associated with CEO Zhao Peng Jonathan, sold 15,170,000 Class A ordinary shares on September 21, 2026 via a block trade, and executed related Class B-to-Class A conversions on September 17 and in connection with the sale.

At what price were Kanzhun Ltd (BZ) shares sold in the block trade?

The block trade was executed at HK$56.90 per share on The Stock Exchange of Hong Kong Limited, which the disclosure converts to approximately US$7.2484 per share using an exchange rate of HK$7.85 to US$1.00.

How many Kanzhun Ltd (BZ) shares came from converting Class B into Class A?

In connection with the September 21, 2026 sale, 10,710,440 Class B ordinary shares held by Techwolf Limited were converted into the same number of Class A ordinary shares on a one-to-one basis under the issuer’s articles of association.

What was the purpose of the September 17, 2026 Class B-to-Class A conversion at Kanzhun Ltd (BZ)?

On September 17, 2026, Techwolf Limited converted 1,635,480 Class B ordinary shares into Class A shares to comply with Hong Kong Listing Rules on weighted voting rights. This adjustment did not change the total number of ordinary shares in which Zhao is interested.

Was the Kanzhun Ltd (BZ) insider sale made under a Rule 10b5-1 trading plan?

No. The disclosure indicates that no Rule 10b5-1 plan is reported for the transactions, meaning they are not affirmatively stated to have been executed under a pre-arranged U.S. trading plan.

Were all 15,170,000 Kanzhun Ltd (BZ) shares sold already outstanding Class A shares?

No. Of the 15,170,000 Class A shares sold, 4,459,560 were existing Class A shares held by Techwolf Limited, while 10,710,440 were Class A shares issuable upon conversion of an equal number of Techwolf’s Class B shares.

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

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Available on EDGAR 09/21/2026 - 04:45 PM Accepted by SEC EDGAR 09/21/2026 - 04:45 PM 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^*

Zhao Peng Jonathan

(Last) (First) (Middle)

21/F, GRANDYVIC BUILDING TAIYANGGONG

MIDDLE RD 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)
09/17/2026

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	09/17/2026		J		1,635,480(1)	D	$0	121,707,241	I	By Techwolf Limited
Class A ordinary shares	09/17/2026		J		1,635,480(1)	A	$0	4,459,560	I	By Techwolf Limited
Class A ordinary shares	09/21/2026		S		4,459,560(2)	D	$7.2484	0	I	By Techwolf Limited
Class B ordinary shares	09/21/2026		S		10,710,440(2)(3)	D	$7.2484	110,996,801	I	By Techwolf 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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The conversion reported in the two lines dated September 17, 2026 did not change the total number of ordinary shares in which Mr. Peng Zhao is interested as previously disclosed. The conversion was effected to comply with an obligation under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Following the issuer's cancellation of Class A ordinary shares repurchased by the issuer, Mr. Peng Zhao, as the weighted voting rights ("WVR") beneficiary of the issuer, proportionately reduced his WVR by converting his Class B ordinary shares into Class A ordinary shares on a one-to-one ratio pursuant to Rule 8A.21 of the Listing Rules, so that the proportion of the issuer's shares carrying WVR of the issuer would not be increased, in compliance with the requirements under Rules 8A.13 and 8A.15 of the Listing Rules.

2. On September 21, 2026, Techwolf Limited sold an aggregate of 15,170,000 Class A ordinary shares by way of a block trade at the price of HK$56.90 per share on The Stock Exchange of Hong Kong Limited. The price reported herein was converted from Hong Kong dollars to United States dollars at a conversion price of HK$7.85 to US$1.00.

3. Of the 15,170,000 Class A ordinary shares sold, 4,459,560 were Class A ordinary shares held by Techwolf Limited. The remaining 10,710,440 shares sold are Class A ordinary shares issuable upon the conversion, in connection with the sale, of the same number of Class B ordinary shares held by Techwolf Limited on a one-to-one basis pursuant to the issuer's articles of association.

	/s/ Peng Zhao	09/21/2026
	** 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)