BeOne Medicines (ONC) executive sells ADS to cover tax on RSU vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
BeOne Medicines Ltd. executive Wang Lai reported a small mandatory share sale tied to equity compensation. On the date shown, he sold 1,169 American Depositary Shares at a weighted average price of $265.3857 per ADS to satisfy tax withholding on a vesting restricted share unit award, rather than as a discretionary trade. Each ADS represents 13 ordinary shares. After these transactions, he continues to hold 1,694,888 ordinary shares directly, while additional ordinary shares are held indirectly through Wang Holdings LLC and an employee RMB share participation plan, for which he disclaims beneficial ownership except for any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,169 shares ($310,236)
Net Sell
4 txns
Insider
Wang Lai
Role
President, Global Head of R&D
Sold
1,169 shs ($310K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | American Depositary Shares | 1,169 | $265.3857 | $310K |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | RMB Shares | -- | -- | -- |
Holdings After Transaction:
American Depositary Shares — 0 shares (Direct, null);
Ordinary Shares — 1,694,888 shares (Direct, null);
Ordinary Shares — 601,965 shares (Indirect, See Footnote);
RMB Shares — 0 shares (Indirect, See Footnote)
Footnotes (1)
- 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 15, 2023, 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 $265.385 to $265.775, 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.
Key Figures
ADS sold: 1,169 ADS
Weighted average sale price: $265.3857 per ADS
Direct ordinary shares after transaction: 1,694,888 ordinary shares
+5 more
8 metrics
ADS sold
1,169 ADS
Open-market sale for tax withholding on RSU vesting
Weighted average sale price
$265.3857 per ADS
ADS sold in multiple trades between $265.385 and $265.775
Direct ordinary shares after transaction
1,694,888 ordinary shares
Direct ownership following reported transactions
Indirect ordinary shares via Wang Holdings LLC
601,965 ordinary shares
Held by Wang Holdings LLC; beneficial ownership disclaimed
RMB Shares in employee plan
2,069,546 RMB Shares
Aggregate RMB Shares purchased in STAR Offering by employee plan
Executive contribution to RMB plan
RMB10 million
Amount contributed by Wang Lai to RMB Shares Employee Participation Plan
RMB Shares IPO price
RMB192.6 per share (or $30.1295)
Initial public offering price in STAR Offering
ADS to ordinary share ratio
1 ADS = 13 ordinary shares
Conversion ratio for American Depositary Shares
Key Terms
RMB Shares, RMB Shares Employee Participation Plan, American Depositary Shares, restricted share unit award, +2 more
6 terms
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
STAR Market financial
"the Issuer's initial public offering on the Science and Technology Innovation Board (the "STAR Market") of the Shanghai Stock Exchange..."
A Star Market is a specialized segment of a stock exchange designed to list fast-growing, technology- or innovation-focused companies under rules intended to make it easier for startups and research-driven firms to raise capital. For investors it matters because it provides a way to access potentially high-growth opportunities that come with higher risk and volatility—like buying early-stage products at a startup fair rather than established brands at a supermarket.
FAQ
What did BeOne Medicines (ONC) executive Wang Lai disclose in this Form 4?
Wang Lai disclosed a small sale of 1,169 American Depositary Shares. The transaction was executed at a weighted average price of $265.3857 per ADS and was linked to tax withholding on a vesting restricted share unit award, not a discretionary open-market sale.
Was the BeOne Medicines (ONC) insider sale a discretionary trade?
The sale was not a discretionary trade. Footnotes state the 1,169 ADS were sold pursuant to a mandatory tax withholding provision in Wang Lai’s restricted share unit agreement, triggered by vesting, rather than an elective decision to reduce his investment position.
At what price were the BeOne Medicines (ONC) ADS sold in the reported transaction?
The reported weighted average sale price was $265.3857 per ADS. A footnote explains the 1,169 ADS were sold in multiple trades at prices ranging from $265.385 to $265.775, and detailed trade breakdowns are available upon request from the issuer or regulators.