Baozun director awarded 42,000 RSUs

Ye Changqing reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Ye Changqing reported acquisition or exercise transactions in this Form 4 filing.

Baozun Inc. director Ye Changqing received a grant of 42,000 Restricted Stock Units on May 21, 2026 under the company’s 2022 Share Incentive Plan. Each RSU represents one Class A ordinary share. The grant vests in four equal installments of 10,500 RSUs on each anniversary of the grant date over four years. Following this award, Ye holds 93,809 RSUs directly, reflecting a compensation-related equity grant rather than any open-market share purchase or sale.

Insider Trade Summary

Grant/Award: 42,000 shares

Grant/Award 1 txn

Insider Ye Changqing

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	42,000	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 93,809 contracts (Direct)

Footnotes (2)

1. F1. Each Restricted Stock Unit ("RSU") represents the contingent right to receive one Class A ordinary share of the Issuer.
2. F2. 42,000 RSUs were granted to the reporting person pursuant to the Issuer's 2022 Share Incentive Plan on May 21, 2026 (the "Grant Date"), and 10,500 RSUs shall vest on each anniversary of the Grant Date in four years.

Key Figures

RSUs granted: 42,000 RSUs Annual vesting tranche: 10,500 RSUs RSUs after transaction: 93,809 RSUs +1 more

4 metrics

RSUs granted 42,000 RSUs Grant to director on May 21, 2026

Annual vesting tranche 10,500 RSUs Each anniversary of May 21, 2026 over four years

RSUs after transaction 93,809 RSUs Total RSUs directly held following the grant

Exercise price $0.0000 per RSU Compensation grant, no purchase price

Key Terms

Restricted Stock Unit, 2022 Share Incentive Plan, Grant Date, Class A ordinary share

4 terms

Restricted Stock Unit financial

"Each Restricted Stock Unit ("RSU") represents the contingent right to receive one Class A ordinary share"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

2022 Share Incentive Plan financial

"42,000 RSUs were granted to the reporting person pursuant to the Issuer's 2022 Share Incentive Plan"

Grant Date financial

"on May 21, 2026 (the "Grant Date"), and 10,500 RSUs shall vest on each anniversary of the Grant Date"

The grant date is the day a company formally gives an employee or contractor the right to receive stock-based compensation, such as stock options or restricted shares. It matters to investors because it fixes key terms—like the price, the start of the ownership clock, and when the award will affect the company’s financial statements and share count—so it can influence dilution, reported expenses, and potential future selling pressure.

Class A ordinary share financial

"contingent right to receive one Class A ordinary share of the Issuer"

A Class A ordinary share is a type of common stock a company issues that carries a specific set of rights—most often particular voting power, dividend terms, or transfer rules—distinct from other share classes. For investors it matters because those rights affect control over company decisions, how income is paid out, and how easy shares are to buy or sell; think of it like a tiered ticket that gives different access and influence at the same event.

FAQ

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

What insider transaction did Baozun (BZUN) director Ye Changqing report?

Ye Changqing reported receiving a grant of 42,000 Restricted Stock Units as equity compensation. The award comes under Baozun’s 2022 Share Incentive Plan and represents the right to receive an equal number of Class A ordinary shares upon vesting over time.

How many RSUs were granted to Baozun (BZUN) director Ye Changqing and on what date?

Baozun granted director Ye Changqing 42,000 Restricted Stock Units on May 21, 2026. These RSUs are a form of stock-based compensation and each unit corresponds to one Class A ordinary share when it vests according to the plan’s schedule.

What is the vesting schedule for Ye Changqing’s 42,000 Baozun (BZUN) RSUs?

The 42,000 RSUs vest in four equal annual installments of 10,500 units each. One installment vests on every anniversary of the May 21, 2026 grant date, so the full award will become vested over a four-year period if service conditions are met.

Is Baozun (BZUN) director Ye Changqing buying or selling shares in this Form 4?

The Form 4 reports an equity grant, not an open-market trade. Ye Changqing acquired 42,000 Restricted Stock Units as a compensation award, with no purchase price and no sale of Class A ordinary shares disclosed in this specific transaction.

How many Restricted Stock Units does Ye Changqing hold in Baozun (BZUN) after this grant?

After the reported grant, Ye Changqing holds 93,809 Restricted Stock Units directly. These RSUs represent contingent rights to receive an equivalent number of Baozun Class A ordinary shares as they vest according to the four-year vesting schedule outlined in the plan.

What does each Baozun (BZUN) Restricted Stock Unit reported in this filing represent?

Each Restricted Stock Unit represents the right to receive one Baozun Class A ordinary share in the future. Delivery occurs when vesting conditions under the 2022 Share Incentive Plan are satisfied, aligning the director’s compensation more closely with shareholder value over time.

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

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Accepted by SEC EDGAR 05/26/2026 - 06:33 AM 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^*

Ye Changqing

(Last) (First) (Middle)

LANE 510, WEST JIANGCHANG ROAD

(Street)

SHANGHAI F4 200346

(City) (State) (Zip)

CHINA

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

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

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
Restricted Stock Unit	$0(1)	05/21/2026		A		42,000		(2)	(2)	Class A Ordinary Shares	42,000	$0	93,809	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents the contingent right to receive one Class A ordinary share of the Issuer.

2. 42,000 RSUs were granted to the reporting person pursuant to the Issuer's 2022 Share Incentive Plan on May 21, 2026 (the "Grant Date"), and 10,500 RSUs shall vest on each anniversary of the Grant Date in four years.

	/s/ Benjamin Changqing Ye	05/26/2026
	** 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)