Vipshop CTO sells 2,482 shares in tax sale

Vipshop Holdings Ltd Chief Technology Officer Li Tianmin reported an open-market sale of 2,482 Class A ordinary shares at $77.884 per share on April 8, 2026.

Rhea-AI Filing Summary

Vipshop Holdings Ltd Chief Technology Officer Li Tianmin reported an open-market sale of 2,482 Class A ordinary shares at $77.884 per share on April 8, 2026. According to the footnote, this was a sell-to-cover transaction to satisfy tax withholding obligations related to vesting and settlement of restricted shares, rather than a discretionary sale. After this transaction, Li held 65,577 Class A ordinary shares directly.

Insider Trade Summary

Net Seller: 2,482 shares

Net Sell 1 txn

Insider Li Tianmin

Role Chief Technology Officer

Sold 2,482 shs ($193K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	2,482	$77.884	$193K

Holdings After Transaction: Class A ordinary shares — 65,577 shares (Direct)

Footnotes (1)

1. F1. The shares were sold in a "sell-to-cover" transaction to cover tax withholding obligations in connection with the vesting and settlement of restricted shares.

Key Figures

Shares sold: 2,482 shares Sale price per share: $77.884 per share Shares held after transaction: 65,577 shares

3 metrics

Shares sold 2,482 shares Class A ordinary shares sold on April 8, 2026

Sale price per share $77.884 per share Price for Class A ordinary share sale on April 8, 2026

Shares held after transaction 65,577 shares Direct Class A ordinary share holdings after the sale

Key Terms

sell-to-cover, restricted shares, tax withholding obligations, Class A ordinary shares

4 terms

sell-to-cover financial

"The shares were sold in a "sell-to-cover" transaction to cover tax withholding obligations"

Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.

restricted shares financial

"in connection with the vesting and settlement of restricted shares"

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

tax withholding obligations financial

"transaction to cover tax withholding obligations in connection with the vesting"

Class A ordinary shares financial

"security_title: "Class A ordinary shares""

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

FAQ

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

What insider transaction did Vipshop (VIPS) report for Li Tianmin?

Vipshop reported that Chief Technology Officer Li Tianmin sold 2,482 Class A ordinary shares at $77.884 per share. The filing states this was a sell-to-cover transaction to satisfy tax withholding obligations tied to vesting restricted shares, not a discretionary open-market sale.

Why did Vipshop (VIPS) CTO Li Tianmin sell 2,482 shares?

The sale was described as a sell-to-cover transaction to pay tax withholding obligations arising from the vesting and settlement of restricted shares. This means shares were sold automatically to cover taxes due, rather than reflecting an independent decision to reduce equity exposure.

How many Vipshop (VIPS) shares does Li Tianmin hold after the reported sale?

Following the reported sell-to-cover transaction, Chief Technology Officer Li Tianmin directly held 65,577 Class A ordinary shares. This post-transaction holding figure comes from the Form 4 and shows his remaining direct ownership after the 2,482 shares were sold for tax purposes.

What price was received per Vipshop (VIPS) share in Li Tianmin’s April 2026 sale?

The Form 4 shows the 2,482 Class A ordinary shares were sold at an average price of $77.884 per share on April 8, 2026. The transaction is characterized as sell-to-cover for tax withholding, linked to vesting and settlement of restricted share awards.

Does Vipshop’s (VIPS) Form 4 indicate this was an open-market sale by the CTO?

The transaction is coded as an open-market sale of Class A ordinary shares, but the footnote clarifies it was a sell-to-cover for tax withholding. This means the transaction was tied to equity compensation vesting rather than a purely discretionary sale decision by the executive.

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

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Accepted by SEC EDGAR 04/10/2026 - 08:31 AM EDT 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^*

Li Tianmin

(Last) (First) (Middle)

NO. 128 DINGXIN ROAD, HAIZHU DISTRICT

(Street)

GUANGZHOU 510220

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Vipshop Holdings Ltd [ VIPS ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Technology Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/08/2026

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
Class A ordinary shares	04/08/2026		S(1)		2,482	D	$77.884	65,577	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

Explanation of Responses:

1. The shares were sold in a "sell-to-cover" transaction to cover tax withholding obligations in connection with the vesting and settlement of restricted shares.

	/s/ Tianmin Li	04/10/2026
	** 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)