Kanzhun CMO exercises options, sells 200K shares

Kanzhun’s CMO Xu Chen exercised 200,000 options and sold 200,000 Class A shares in a cashless exercise, while retaining significant option and trust-held share positions.

Rhea-AI Filing Summary

Kanzhun Ltd (BZ) director and Chief Marketing Officer Xu Chen exercised options and sold shares on September 10, 2026. He exercised 200,000 options for Class A ordinary shares at an exercise price of $0.50 per share, increasing his directly held shares, then sold 200,000 Class A ordinary shares (in the form of ADSs) at $8.15 per share as part of a cashless exercise. Following the option exercise, he held 709,000 options directly, and indirectly held 184,522 Class A ordinary shares through KZBZ Limited, an employee shareholding trust that benefits employees including Xu Chen. No Rule 10b5-1 trading plan is reported for these transactions.

Insider Trade Summary

Exercise and Sale: 200,000 shares ($1.53M approx. pre-tax spread)

Exercise and Sale 4 txns

Insider Chen Xu

Role Chief Marketing Officer

Sold 200,000 shs ($1.63M)

Approx. gross sale proceeds $1.63M

Approx. exercise cost $100K

Approx. pre-tax spread $1.53M

Type	Security	Shares	Price	Value
Exercise	Option (Right to Buy) F4	200,000	$0.00	$0.00
Exercise	Class A ordinary shares F1	200,000	$0.50	$100K
Sale	Class A ordinary shares F1, F2	200,000	$8.15	$1.63M
holding	Class A ordinary shares F3	--	--	--

Holdings After Transaction: Option (Right to Buy) — 709,000 contracts (Direct); Class A ordinary shares — 153,340 shares (Direct); Class A ordinary shares — 184,522 shares (Indirect, By KZBZ Limited)

Footnotes (4)

1. F1. These Class A ordinary shares are held through American Depositary Shares ("ADS") of the issuer. Each ADS represents two Class A ordinary shares.
2. F2. Represents Class A ordinary shares sold in the form of ADS in connection with the cashless exercise of the Options reported on this Form 4.
3. F3. The shares of KZBZ Limited are held by Maples Trustee Services (Cayman) Limited as trustee of an employee shareholding trust, for the benefit of employees including Mr. Xu Chen.
4. F4. All options granted have been fully vested and are exercisable as of the date hereof.

Key Figures

Options exercised: 200,000 options Option exercise price: $0.50 per share Shares sold: 200,000 Class A ordinary shares +5 more

8 metrics

Options exercised 200,000 options Options for Class A ordinary shares exercised on September 10, 2026

Option exercise price $0.50 per share Exercise price for the 200,000 options converted into Class A ordinary shares

Shares sold 200,000 Class A ordinary shares Shares sold (in ADS form) on September 10, 2026

Sale price $8.15 per share Reported sale price for 200,000 Class A ordinary shares

Options held after transaction 709,000 options Total options directly held by Xu Chen following the option exercise

Indirectly held Class A ordinary shares 184,522 shares Class A ordinary shares held indirectly through KZBZ Limited employee shareholding trust

ADS to ordinary share ratio 1 ADS : 2 Class A ordinary shares Each American Depositary Share represents two Class A ordinary shares

Option expiration date February 18, 2031 Expiration date of the options exercised on September 10, 2026

Key Terms

cashless exercise, American Depositary Shares, employee shareholding trust, fully vested

4 terms

cashless exercise financial

"sold in the form of ADS in connection with the cashless exercise"

A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.

American Depositary Shares financial

"These Class A ordinary shares are held through American Depositary Shares"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

employee shareholding trust financial

"as trustee of an employee shareholding trust, for the benefit of employees"

fully vested financial

"All options granted have been fully vested and are exercisable"

FAQ

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

What insider transactions did Kanzhun Ltd (BZ) report for Xu Chen on September 10, 2026?

On September 10, 2026, Xu Chen exercised 200,000 options for Kanzhun Class A ordinary shares at $0.50 per share and sold 200,000 Class A ordinary shares (in ADS form) at $8.15 per share in connection with a cashless exercise.

How many Kanzhun (BZ) options does Xu Chen hold after this Form 4 transaction?

After the reported transactions, Xu Chen holds 709,000 options directly. Footnotes state that all options granted have been fully vested and are exercisable as of the date of the filing.

What sale price was reported for Xu Chen’s Kanzhun (BZ) share sale?

The Form 4 reports that Xu Chen sold 200,000 Class A ordinary shares, in the form of ADSs, at a price of $8.15 per share on September 10, 2026, in connection with a cashless option exercise.

How are Kanzhun (BZ) ADSs related to Class A ordinary shares in this Form 4?

Footnotes state that Kanzhun’s American Depositary Shares (ADSs) each represent two Class A ordinary shares. The Class A ordinary shares in the Form 4 are held and sold in the form of ADSs based on this ratio.

Does Xu Chen have indirect holdings of Kanzhun (BZ) shares?

Yes. The Form 4 reports 184,522 Class A ordinary shares held indirectly through KZBZ Limited. Shares of KZBZ Limited are held by a trustee as an employee shareholding trust for the benefit of employees including Xu Chen.

Were Xu Chen’s Kanzhun (BZ) transactions under a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is unchecked, and no footnote indicates a trading plan. The transactions are reported without being pursuant to a Rule 10b5-1 plan.

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

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Available on EDGAR 09/11/2026 - 04:02 PM Accepted by SEC EDGAR 09/11/2026 - 04:01 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^*

Chen Xu

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

2a. Foreign Trading Symbol
[HKEX: 2076]

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2026

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(1)	09/10/2026		M		200,000	A	$0.5	353,340	D
Class A ordinary shares(1)	09/10/2026		S		200,000(2)	D	$8.15	153,340	D
Class A ordinary shares								184,522	I	By KZBZ Limited(3)

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
Option (Right to Buy)	$0.5	09/10/2026		M			200,000	(4)	02/18/2031	Class A ordinary shares	200,000	$0	709,000	D

Explanation of Responses:

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

2. Represents Class A ordinary shares sold in the form of ADS in connection with the cashless exercise of the Options reported on this Form 4.

3. The shares of KZBZ Limited are held by Maples Trustee Services (Cayman) Limited as trustee of an employee shareholding trust, for the benefit of employees including Mr. Xu Chen.

4. All options granted have been fully vested and are exercisable as of the date hereof.

	/s/ Xu Chen	09/11/2026
	** 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)