Baozun (BZUN) CFO Zhu Yanjie reports vested and unvested RSU holdings

Rhea-AI Filing Summary

Baozun Inc. Chief Financial Officer Zhu Yanjie filed an initial ownership report showing existing equity holdings, rather than new market transactions. The filing lists 118,503 Restricted Stock Units (RSUs) that are fully vested, each representing one Class A ordinary share.

The report also shows 14,850 unvested RSUs that were granted under Baozun’s 2022 Share Incentive Plan. These are scheduled to vest in two installments of 8,100 and 6,750 RSUs in June 2026 and December 2026. In addition, Zhu directly holds 3,137 American Depositary Shares, giving investors a clearer view of the CFO’s current equity stake.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Zhu Yanjie

(Last) (First) (Middle)

LANE 510, WEST JIANGCHANG ROAD

(Street)

SHANGHAI F4 200436

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
Baozun Inc. [ BZUN ]

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

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

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
American Depositary Shares	3,137	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	(1)	(1)	Class A Ordinary Shares	118,503	(3)	D
Restricted Stock Unit	(2)	(2)	Class A Ordinary Shares	14,850	(3)	D

Explanation of Responses:

1. 34,650 Restricted Stock Units ("RSUs"), 6,498 RSUs and 77,355 RSUs were granted to the reporting person pursuant to the Issuer's 2022 Share Incentive Plan in December 2022, April 2023 and April 2024, respectively, and all of such RSUs are fully vested.

2. 14,850 unvested RSUs were granted to the reporting person pursuant to the Issuer's 2022 Share Incentive Plan in December 2022 and will vest in two installments: 8,100 in June 2026 and 6,750 in December 2026.

3. Each RSU represents the contingent right to receive one Class A ordinary share of the Issuer.

	/s/ Yanjie Zhu	03/17/2026
	** 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 5 (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.
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FAQ

What insider position does Zhu Yanjie hold at Baozun (BZUN)?

Zhu Yanjie is the Chief Financial Officer of Baozun Inc. The Form 3 filing outlines the CFO’s existing equity holdings, including vested and unvested RSUs and American Depositary Shares, providing transparency into current ownership levels.

How many fully vested RSUs does Baozun (BZUN) CFO Zhu Yanjie hold?

The filing shows Zhu Yanjie holds 118,503 fully vested RSUs. These RSUs were granted in December 2022, April 2023 and April 2024 under Baozun’s 2022 Share Incentive Plan, and each RSU represents one Class A ordinary share.

What unvested RSUs are reported for Baozun (BZUN) CFO Zhu Yanjie?

Zhu Yanjie has 14,850 unvested RSUs granted under the 2022 Share Incentive Plan. These are scheduled to vest in two tranches: 8,100 RSUs in June 2026 and 6,750 RSUs in December 2026, subject to plan conditions.

How many ADSs does Baozun (BZUN) CFO Zhu Yanjie own directly?

The Form 3 indicates direct ownership of 3,137 American Depositary Shares. This ADS position is separate from the RSU awards and reflects another component of the CFO’s overall equity exposure to Baozun Inc.

What plan governs the RSU grants reported for Baozun (BZUN) CFO?

All RSUs disclosed were granted under Baozun’s 2022 Share Incentive Plan. The filing notes fully vested RSUs from grants in 2022–2024 and additional unvested RSUs with scheduled vesting dates in 2026, aligning compensation with long-term company performance.

What does each RSU represent in Baozun (BZUN) CFO’s Form 3?

Each RSU represents the right to receive one Class A ordinary share of Baozun Inc. This means the RSU totals in the filing directly correspond to the same number of underlying Class A ordinary shares when they vest and settle.