BeOne Medicines (ONC) R&D head granted shares and options, sells ADS for tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
BeOne Medicines Ltd. executive Wang Lai reported equity compensation grants and a small tax‑related share sale. He received 118,625 Ordinary Shares as a restricted share unit award and 229,775 share options with a $20.81 exercise price, both vesting over four years, subject to continued service and potential accelerated vesting upon certain termination events.
A total of 756 American Depositary Shares, each representing 13 Ordinary Shares, were sold at a weighted average price of about $261.00 per ADS under a mandatory tax withholding provision tied to a prior restricted share unit vesting, rather than a discretionary open‑market sale. Following these transactions, he directly holds 1,710,085 Ordinary Shares and 229,775 options, while additional Ordinary and RMB Shares are held by entities such as Wang Holdings LLC and the RMB Shares Employee Participation Plan, over which he disclaims Section 16 beneficial ownership and generally lacks voting or dispositive power.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 756 shares ($197,318)
Net Sell
5 txns
Insider
Wang Lai
Role
President, Global Head of R&D
Sold
756 shs ($197K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Share Option (Right to Buy) | 229,775 | $0.00 | -- |
| Grant/Award | Ordinary Shares | 118,625 | $0.00 | -- |
| Sale | American Depositary Shares | 756 | $261.0021 | $197K |
| holding | Ordinary Shares | -- | -- | -- |
| holding | RMB Shares | -- | -- | -- |
Holdings After Transaction:
Share Option (Right to Buy) — 229,775 shares (Direct, null);
Ordinary Shares — 1,710,085 shares (Direct, null);
American Depositary Shares — 0 shares (Direct, null);
Ordinary Shares — 601,965 shares (Indirect, See Footnote);
RMB Shares — 0 shares (Indirect, See Footnote)
Footnotes (1)
- Represents securities underlying restricted share units. 1/4th of the securities will vest on each anniversary of June 11, 2026, subject to continued service. Unvested securities are subject to accelerated vesting upon certain termination events. These securities are held by Wang Holdings LLC, the limited liability company interests of which are owned by the Reporting Person, his spouse and a trust created by the Reporting Person for the benefit of his spouse and children, for which the Reporting Person disclaims beneficial ownership. The term "RMB Shares" is used herein to represent the ordinary shares, par value $0.0001 per share, of the Issuer, issued directly by the Issuer in the Issuer's initial public offering on the Science and Technology Innovation Board (the "STAR Market") of the Shanghai Stock Exchange (the "STAR Offering"), to permitted investors in Renminbi ("RMB") within the People's Republic of China ("PRC") in accordance with the rules of the STAR Market. The Issuer established an employee participation program ("RMB Shares Employee Participation Plan"), which allows certain executive officers and qualified employees of the Issuer's subsidiaries in the PRC to indirectly participate in the STAR Offering and purchase certain RMB Shares from the Issuer through an asset management plan administrated by China International Capital Corporation Limited in a transaction that is exempt under Rule 16b-3. The RMB Share Employee Participation Plan purchased an aggregate of 2,069,546 RMB Shares directly from the Issuer in the STAR Offering at the initial public offering price of RMB192.6 per RMB Share (or $30.1295 based on an assumed exchange rate of $1.00 = RMB6.3924). The Reporting Person, as an individual participant in the RMB Shares Employee Participation Plan, has contributed RMB10 million to the RMB Shares Employee Participation Plan. The Reporting Person may be deemed to have indirect economic interest in an indeterminable portion of the RMB Shares held by the RMB Shares Employee Participation Plan but does not have voting or dispositive power over any of such shares. The Reporting Person disclaims Section 16 beneficial ownership of the RMB Shares held by the RMB Shares Employee Participation Plan, except to the extent, if any, of his pecuniary interest therein. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such RMB Shares for Section 16 or any other purpose. Each American Depositary Share represents 13 Ordinary Shares. The sale was effected pursuant to a mandatory tax withholding provision in the Reporting Person's restricted share unit award agreement in connection with the vesting of a restricted share unit award previously granted to the Reporting Person. 1/4th of the securities will vest on each anniversary of June 10, 2025, subject to continued service. Unvested securities are subject to accelerated vesting upon certain termination events. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $260.87 to $261.16, inclusive. The Reporting Person has provided to the Issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the Issuer, upon request, full information regarding the number of American Depositary Shares sold at each separate price. The number of securities underlying each option and the exercise price therefor are represented in ordinary shares. These securities vest over a four-year period as follows: 25% on the first anniversary of June 11, 2026 with the remaining shares vesting in 36 equal successive monthly installments thereafter, subject to continued service. Unvested securities are subject to accelerated vesting upon certain termination events.
Key Figures
ADS sold for tax: 756 ADS at $261.0021
Ordinary Shares RSU grant: 118,625 shares
Share options granted: 229,775 options at $20.81
+4 more
7 metrics
ADS sold for tax
756 ADS at $261.0021
Mandatory tax withholding sale on American Depositary Shares
Ordinary Shares RSU grant
118,625 shares
Restricted share unit-based Ordinary Shares granted to Wang Lai
Share options granted
229,775 options at $20.81
Options on Ordinary Shares, expiring 2036-06-10
Direct Ordinary Shares after
1,710,085 shares
Direct Ordinary Share holdings following the reported transactions
Indirect Ordinary Shares via entity
601,965 shares
Ordinary Shares held by Wang Holdings LLC, with beneficial ownership disclaimed
RMB Shares plan purchase
2,069,546 shares at RMB192.6
RMB Shares Employee Participation Plan purchase in STAR Offering
ADS to Ordinary ratio
1 ADS = 13 Ordinary Shares
American Depositary Share representation ratio
Key Terms
restricted share units, RMB Shares Employee Participation Plan, American Depositary Shares, Section 16 beneficial ownership, +1 more
5 terms
Section 16 beneficial ownership financial
"The Reporting Person disclaims Section 16 beneficial ownership of the RMB Shares held by the RMB Shares Employee Participation Plan"
Rule 16b-3 regulatory
"purchase certain RMB Shares from the Issuer through an asset management plan ... in a transaction that is exempt under Rule 16b-3."
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
FAQ
What equity awards did BeOne Medicines (ONC) executive Wang Lai receive?
Wang Lai received 118,625 Ordinary Shares as a restricted share unit award and 229,775 share options with a $20.81 exercise price. Both awards vest over four years, subject to continued service and potential accelerated vesting upon certain termination events.