TCOM Insider Files Form 144 to Sell 400,000 ADS Valued at $28.49M

Rhea-AI Filing Summary

Trip.com Group Ltd (TCOM) filed a Form 144 reporting a proposed sale of 400,000 American Depositary Shares (ADS) with an aggregate market value of $28,492,000. The filing names The Core Securities Company Limited as the broker and lists NASDAQ as the exchange for an approximate sale date of 09/04/2025. The securities were acquired on 09/04/2025 through an employee stock option exercise from Trip.com Group Ltd, and the indicated method of payment was option cost. The filer reports no sales of the issuer's securities in the past three months and includes the required certification regarding material nonpublic information.

Positive

• Clear compliance disclosure under Rule 144 with broker, share count, and market value specified
• Acquisition disclosed as employee stock option exercise, with payment method listed as option cost
• No securities sold in the past three months by the selling person, as reported

Negative

• None.

Insights

Securities Analyst

TL;DR: Significant insider-originated sale notified — 400,000 ADS ($28.49M) via Option Exercise; disclosure follows Rule 144 procedures.

The filing documents a proposed sale of 400,000 ADS, acquired the same day by exercising employee stock options. The transaction is being routed through The Core Securities Company Limited and is slated for NASDAQ on 09/04/2025. From an investor-impact perspective, the filing is a routine compliance disclosure under Rule 144 that makes a material block size explicit for the market to digest. The notice also confirms no related sales in the prior three months, which helps contextualize the magnitude of this proposed sale.

Corporate Governance Expert

TL;DR: Filing demonstrates procedural compliance by an insider with required certifications on public disclosure.

The Form 144 includes the standard representation that the seller is not aware of undisclosed material adverse information and records acquisition details tied to an employee option exercise. The explicit inclusion of broker details and the ‘‘no sales in the past three months’’ statement support transparency and regulatory compliance. The document contains the mandatory signature/representation language to satisfy Rule 144 filing requirements.

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(Common)	The Core Securities Company Limited Suite C, 20/F., Standard Chartered Bank Building, 4-4A Des Voeux Road Central Central K3 999077	400000	28492000.00	653270717	09/04/2025	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(Common)	09/04/2025	Employee Stock Option Exercise	Trip.com Group Ltd			400000	09/04/2025	Option Cost

* 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 (TCOM) report in the Form 144?

The filer reports a proposed sale of 400,000 ADS with aggregate market value of $28,492,000, to be sold on or about 09/04/2025 on NASDAQ.

How were the ADS being sold acquired?

The ADS were acquired on 09/04/2025 through an employee stock option exercise from Trip.com Group Ltd, with payment listed as option cost.

Who is the broker handling the proposed sale?

The broker named in the filing is The Core Securities Company Limited with an address at Suite C, 20/F., Standard Chartered Bank Building, 4-4A Des Voeux Road Central.

Has the person sold Trip.com securities in the past three months?

The filing indicates Nothing to Report for securities sold during the past three months by the selling person.

Does the filer assert any material nonpublic information concerns?

By signing the Form 144, the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed.