Tencent Music VP exercises 155,320 stock options

The exercised options had an expiration date of March 15, 2032.

Rhea-AI Filing Summary

Tsai-Chun Pan, Group Vice President of Tencent Music Entertainment Group, exercised stock options to acquire 155,320 American Depositary Shares (ADSs) on September 29, 2026, at a $3.86 exercise price per ADS. The options, granted in March 2022, were fully vested after the stated performance criteria were met; each option was exercisable for one ADS. After the exercise, Pan directly held 4,236,706 ADSs.

Insider Trade Summary

155,320 shares exercised/converted

Exercise 2 txns

Insider PAN TSAI-CHUN

Role Group Vice President

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy) F2, F4, F3	155,320	--	--
Exercise	American Depositary Shares F1	155,320	$3.86	$600K

Holdings After Transaction: Stock Option (Right to Buy) — 0 contracts (Direct); American Depositary Shares — 4,236,706 shares (Direct)

Footnotes (4)

1. F1. Each American Depositary Share ("ADS") represents two (2) Class A Ordinary Shares, with a par value of US$0.000083 per share, of Tencent Music Entertainment Group (the "Issuer").
2. F2. Each Stock Option is exercisable for one ADS, which represents two Class A Ordinary Shares.
3. F3. The Stock Option was granted in March 2022 subject to satisfaction of certain performance criteria. The performance criteria with respect to options to purchase 155,320 ADSs were met, and such options are fully vested.
4. F4. This is the exercise of the Stock Option at the exercise price of $3.86.

Key Figures

ADSs acquired through option exercise: 155,320 ADSs Exercise price: $3.86 per ADS Direct ADS holdings after exercise: 4,236,706 ADSs +1 more

4 metrics

ADSs acquired through option exercise 155,320 ADSs September 29, 2026

Exercise price $3.86 per ADS Stock option exercise

Direct ADS holdings after exercise 4,236,706 ADSs After the September 29, 2026 transaction

Stock option expiration date March 15, 2032 Options exercised in the transaction

Key Terms

American Depositary Share, Stock Option, performance criteria, fully vested

4 terms

American Depositary Share financial

"Each Stock Option is exercisable for one ADS"

An American Depositary Share (ADS) is a U.S.-listed certificate that represents a specified number of shares in a foreign company, held by a custodian bank; it works like a receipt that allows U.S. investors to buy and trade foreign equity on American exchanges without dealing with another country’s markets. Investors care because ADSs make foreign stocks easier to access, improve liquidity and settlement in dollars, and can affect dividend payments, voting rights and regulatory oversight compared with buying the underlying foreign shares directly.

Stock Option financial

"The Stock Option was granted in March 2022"

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

performance criteria financial

"The performance criteria with respect to options"

fully vested financial

"such options are fully vested"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many TME ADSs did Tsai-Chun Pan acquire, and at what exercise price?

Tsai-Chun Pan exercised options to acquire 155,320 TME ADSs at a $3.86 exercise price per ADS on September 29, 2026. Each option was exercisable for one ADS, and Pan directly held 4,236,706 ADSs after the exercise.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/30/2026 - 06:15 AM Accepted by SEC EDGAR 09/30/2026 - 06:14 AM Learn about SEC filing dates

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^*

PAN TSAI-CHUN

(Last) (First) (Middle)

U 3, BLDG D, KEXING SCI PK KEJIZHONGSAN

AVE, HI-TECH PK NANSHAN DIST

(Street)

SHENZHEN 518057

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Tencent Music Entertainment Group [ TME ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Group Vice President

2a. Foreign Trading Symbol
[1698.HK]

3. Date of Earliest Transaction (Month/Day/Year)
09/29/2026

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
American Depositary Shares(1)	09/29/2026		M		155,320	A	$3.86	4,236,706	D

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
Stock Option (Right to Buy)(2)	$3.86	09/29/2026		M			155,320	(3)	03/15/2032	American Depositary Shares	155,320	(4)	0	D

Explanation of Responses:

1. Each American Depositary Share ("ADS") represents two (2) Class A Ordinary Shares, with a par value of US$0.000083 per share, of Tencent Music Entertainment Group (the "Issuer").

2. Each Stock Option is exercisable for one ADS, which represents two Class A Ordinary Shares.

3. The Stock Option was granted in March 2022 subject to satisfaction of certain performance criteria. The performance criteria with respect to options to purchase 155,320 ADSs were met, and such options are fully vested.

4. This is the exercise of the Stock Option at the exercise price of $3.86.

	/s/ Pan Tsai-Chun	09/30/2026
	** 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)