Vipshop CTO sells 2,518 shares for tax withholding

Vipshop Holdings Ltd Chief Technology Officer Li Tianmin reported an open-market sale of 2,518 Class A ordinary shares at an average price of $67.454 per share.

Rhea-AI Filing Summary

Vipshop Holdings Ltd Chief Technology Officer Li Tianmin reported an open-market sale of 2,518 Class A ordinary shares at an average price of $67.454 per share. According to the footnote, the shares were sold in a sell-to-cover transaction to satisfy tax withholding obligations tied to vesting of restricted shares, rather than a discretionary sale. After this transaction, Li holds 63,059 Class A ordinary shares directly.

Insider Trade Summary

Net Seller: 2,518 shares

Net Sell 1 txn

Insider Li Tianmin

Role Chief Technology Officer

Sold 2,518 shs ($170K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	2,518	$67.454	$170K

Holdings After Transaction: Class A ordinary shares — 63,059 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: 2,518 shares Sale price: $67.454 per share Shares owned after: 63,059 shares

3 metrics

Shares sold 2,518 shares Class A ordinary shares sold in open-market transaction

Sale price $67.454 per share Average price for the 2,518 shares sold

Shares owned after 63,059 shares Direct Class A ordinary share holdings post-transaction

Key Terms

sell-to-cover, tax withholding obligations, restricted shares, 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.

tax withholding obligations financial

"to cover tax withholding obligations in connection with the vesting and settlement of restricted shares"

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.

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 CTO Li Tianmin sold 2,518 Class A ordinary shares. The sale was an open-market transaction linked to tax withholding for vested restricted shares, not a discretionary portfolio trade, and left him holding 63,059 shares directly afterward.

Why did Vipshop (VIPS) CTO Li Tianmin sell 2,518 shares?

The 2,518 shares were sold in a sell-to-cover transaction to pay tax withholding on vested restricted shares. This means the sale was driven by tax obligations associated with equity compensation, rather than an independent decision to reduce his investment in Vipshop.

At what price were the Vipshop (VIPS) shares sold by the CTO?

The reported 2,518 Class A ordinary shares were sold at an average price of about $67.454 per share. This pricing reflects the market level at the time of the open-market transaction used to cover required tax withholding obligations on restricted share vesting.

How many Vipshop (VIPS) shares does CTO Li Tianmin own after the sale?

Following the sell-to-cover transaction, CTO Li Tianmin directly holds 63,059 Class A ordinary shares. This figure represents his remaining ownership after selling 2,518 shares to cover tax withholding tied to the vesting and settlement of restricted share awards.

Does the Vipshop (VIPS) Form 4 indicate a change in the CTO’s stake?

The Form 4 shows Li Tianmin sold 2,518 shares for tax withholding, leaving 63,059 shares owned directly. While his share count decreased, the filing characterizes the sale as a compensation-related sell-to-cover event rather than a discretionary reduction of his overall position.

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

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Accepted by SEC EDGAR 07/09/2026 - 06:21 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^*

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)
07/07/2026

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	07/07/2026		S(1)		2,518	D	$67.454	63,059	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	07/09/2026
	** 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)