Baozun (BZUN) CFO receives 300,000 RSU grant with 2029–2030 vesting

Rhea-AI Filing Summary

Zhu Yanjie reported acquisition or exercise transactions in this Form 4 filing.

Baozun Inc. reported that its Chief Financial Officer, Zhu Yanjie, received a grant of 300,000 Restricted Stock Units (RSUs) tied to Class A ordinary shares. Following this award, Zhu holds 433,353 shares-related interests directly. Each RSU represents the right to receive one Class A ordinary share.

According to the vesting schedule, 75% of the RSUs will vest on January 1, 2029, and the remaining 25% will vest on January 1, 2030, aligning the CFO’s compensation with longer-term company performance.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Zhu Yanjie

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	300,000	$0.00	--

Holdings After Transaction: Restricted Stock Unit — 433,353 shares (Direct)

Footnotes (1)

1. Each RSU represents the contingent right to receive one Class A ordinary share of the Issuer. 75% of the RSUs shall be vested on January 1, 2029; and 25% of the RSUs shall be vested on January 1, 2030.

Key Figures

RSUs granted: 300,000 RSUs Shares following transaction: 433,353 shares Initial vesting tranche: 75% of RSUs +1 more

4 metrics

RSUs granted 300,000 RSUs Grant to CFO on March 30, 2026

Shares following transaction 433,353 shares Direct holdings after RSU grant

Initial vesting tranche 75% of RSUs Vests on January 1, 2029

Final vesting tranche 25% of RSUs Vests on January 1, 2030

Key Terms

Restricted Stock Unit, Class A Ordinary Shares, vested

3 terms

Restricted Stock Unit financial

"The CFO received a grant of 300,000 Restricted Stock Units (RSUs)"

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.

Class A Ordinary Shares financial

"Each RSU represents the contingent right to receive one Class A ordinary share"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

vested financial

"75% of the RSUs shall be vested on January 1, 2029; and 25% on January 1, 2030"

Form 4 Insider Transactions: What Each Field Means →

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^*

Zhu Yanjie

(Last) (First) (Middle)

LANE 510, WEST JIANGCHANG ROAD

(Street)

SHANGHAI 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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/30/2026

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)	03/30/2026		A		300,000		(2)	(2)	Class A Ordinary Shares	300,000	$0	433,353	D

Explanation of Responses:

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

2. 75% of the RSUs shall be vested on January 1, 2029; and 25% of the RSUs shall be vested on January 1, 2030.

	/s/ Yanjie Zhu	03/31/2026
	** 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)

FAQ

What insider transaction did Baozun (BZUN) disclose for CFO Zhu Yanjie?

Baozun disclosed that CFO Zhu Yanjie received a grant of 300,000 Restricted Stock Units. These RSUs are tied to Class A ordinary shares, representing a long-term equity-based compensation award rather than an open-market purchase or sale of existing shares.

How many RSUs were granted to the Baozun (BZUN) CFO in this Form 4?

The CFO received 300,000 Restricted Stock Units. Each RSU represents the contingent right to receive one Class A ordinary share, creating a direct link between the executive’s future compensation and Baozun’s share performance as the units vest over time.

What is the vesting schedule for the Baozun (BZUN) CFO’s 300,000 RSUs?

The vesting is heavily back‑loaded. 75% of the RSUs will vest on January 1, 2029, and the remaining 25% will vest on January 1, 2030, encouraging multi‑year retention and alignment with long-term company results and shareholder interests.

How many Baozun (BZUN) shares-related interests does the CFO hold after this RSU grant?

After the grant, CFO Zhu Yanjie is reported as holding 433,353 shares-related interests directly. This figure reflects the position following the 300,000 RSU award and shows the scale of the CFO’s equity-linked stake in Baozun.

Does the Baozun (BZUN) Form 4 reflect a stock purchase or sale by the CFO?

No, the filing reflects an equity award, not a market trade. The transaction code is “A,” meaning a grant or award of 300,000 Restricted Stock Units, rather than an open-market buy or sell of Baozun shares by the CFO.