Baozun (NASDAQ: BZUN) director discloses 51,809 RSUs in Form 3

Rhea-AI Filing Summary

Baozun Inc. director Ye Changqing filed an initial ownership report showing holdings of restricted stock units (RSUs) tied to the company’s Class A ordinary shares. The filing lists RSUs covering 51,809 underlying shares, representing fully vested grants of 35,000 RSUs from May 2016 and 16,809 RSUs from August 2021 under the 2015 Share Incentive Plan. Each RSU corresponds to the right to receive one Class A ordinary share.

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^*

Ye Changqing

(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)

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

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)

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	51,809	(2)	D

Explanation of Responses:

1. The 35,000 RSUs and 16,809 RSUs were granted to the reporting person pursuant to the 2015 Share Incentive Plan in May 2016 and August, 2021, respectively, and have been fully vested.

2. Each RSU represents the contingent right to receive one Class A ordinary share of the Company.

	/s/ Benjamin Changqing Ye	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Baozun (BZUN) director Ye Changqing report in this Form 3?

Ye Changqing reported existing holdings of restricted stock units linked to Baozun’s Class A ordinary shares. The filing identifies RSUs covering 51,809 underlying shares, reflecting fully vested awards granted in 2016 and 2021 under the company’s 2015 Share Incentive Plan.

How many Baozun (BZUN) shares are underlying Ye Changqing’s reported RSUs?

The RSUs reported by Ye Changqing correspond to 51,809 underlying Class A ordinary shares. This total comes from 35,000 RSUs granted in May 2016 and 16,809 RSUs granted in August 2021, all of which have fully vested under the 2015 Share Incentive Plan.

Were the Baozun (BZUN) RSUs held by Ye Changqing fully vested?

Yes, the RSUs reported are fully vested according to the filing footnotes. They include 35,000 RSUs granted in May 2016 and 16,809 RSUs granted in August 2021 under Baozun’s 2015 Share Incentive Plan, all now fully vested and outstanding as RSU holdings.

What does each Baozun (BZUN) RSU held by Ye Changqing represent?

Each RSU represents the contingent right to receive one Class A ordinary share of Baozun. This means the 51,809 RSUs reported correspond to 51,809 potential Class A ordinary shares, subject to the plan’s and award agreements’ terms outlined in the share incentive plan.

Is Ye Changqing’s Baozun (BZUN) Form 3 a buy or sell transaction?

No, this Form 3 does not report a buy or sell transaction. It is an initial ownership statement listing Ye Changqing’s existing RSU holdings, rather than new open-market purchases or sales of Baozun’s Class A ordinary shares or derivatives.