Trip.com (TCOM) Founder Files Form 144 to Sell 1M ADS on NASDAQ

Rhea-AI Filing Summary

Trip.com Group Limited (TCOM) submitted a Form 144 notice reporting a proposed sale of 1,000,000 ADS held as Founder Shares by Jianzhang Liang, acquired on 09/21/2012. The filing names Morgan Stanley & Co. LLC as broker and lists an aggregate market value of $73,750,000.00 for the ADS, with approximately 660,060,247 shares outstanding. The approximate sale date is 09/03/2025 and the securities are to be sold on NASDAQ. The filer represents there is no undisclosed material adverse information and notes no securities sold by the same person in the past three months.

Insights

Securities Analyst

TL;DR Routine Form 144 notice: a founder plans to sell longstanding founder ADS acquired in 2012 through Morgan Stanley.

The filing is a standard Rule 144 notice disclosing a proposed sale of 1,000,000 ADS by Jianzhang Liang, originally acquired as founder shares in 2012. It provides broker, aggregate market value, outstanding share count, and an approximate sale date. There are no reported securities sold by the filer in the prior three months and the filer attests no undisclosed material adverse information. This document is a procedural disclosure required before certain restricted or control securities are sold.

Corporate Governance Expert

TL;DR Disclosure aligns with Rule 144 procedures; it records a founder's intended sale without additional governance details.

The notice identifies the seller, the nature of the holdings (Founder Shares acquired 09/21/2012), and sale logistics including broker and exchange. It does not provide any trading plan adoption date or further governance context. As filed, it meets disclosure requirements but contains no new company-level governance or operational information.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
ADS	Morgan Stanley & Co. LLC 1585 Broadway New York NY 10036-8293	1000000	73750000.00	660060247	09/03/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
ADS	09/21/2012	Founder Shares	Jianzhang Liang			1000000	09/21/2012	n/a

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Trip.com Group's Form 144 filing disclose (TCOM)?

The filing discloses a proposed sale of 1,000,000 ADS by Jianzhang Liang, with an aggregate market value of $73,750,000.00 and an approximate sale date of 09/03/2025.

Who is the broker named in the TCOM Form 144 notice?

The broker listed is Morgan Stanley & Co. LLC, located at 1585 Broadway, New York, NY.

When were the ADS being sold originally acquired?

The ADS were acquired as Founder Shares on 09/21/2012 by Jianzhang Liang.

How many Trip.com ADS are outstanding according to the filing?

The filing reports 660,060,247 shares outstanding.

Does the Form 144 report any securities sold by the filer in the past three months?

No. The filing states "Nothing to Report" for securities sold during the past three months by the person for whose account the securities are to be sold.

Does the filer attest to any undisclosed material adverse information?

Yes. By signing the notice the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed.