Vipshop (VIPS) director Liu logs small 174-share sell-to-cover transaction

Rhea-AI Filing Summary

Vipshop Holdings Ltd director Chun Liu reported an insider transaction involving Class A ordinary shares. On July 7, 2026, 174 shares were sold at $67.309 per share in a "sell-to-cover" transaction to pay tax withholding tied to vesting and settlement of restricted shares. After this transaction, Liu holds 6,119 shares directly and 10,113 shares indirectly through Big dream investments Limited, indicating the sale represents a small portion of the overall position and is linked to tax obligations rather than discretionary selling.

Insider Trade Summary

Net Seller: 174 shares ($11,712)

Net Sell 2 txns

Insider Liu Chun

Role null

Sold 174 shs ($12K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	174	$67.309	$12K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 6,119 shares (Direct, null); Class A ordinary shares — 10,113 shares (Indirect, By Big dream investments Limited, a controlled corporation of the reporting person.)

Footnotes (1)

1. [object Object]

Key Figures

Shares sold: 174 shares Sale price: $67.309 per share Direct holdings after transaction: 6,119 shares +2 more

5 metrics

Shares sold 174 shares Class A ordinary shares sold on July 7, 2026

Sale price $67.309 per share Price for sell-to-cover transaction

Direct holdings after transaction 6,119 shares Class A ordinary shares held directly by Chun Liu

Indirect holdings after transaction 10,113 shares Held via Big dream investments Limited

Net shares sold 174 shares Net-sell direction in transaction summary

Key Terms

sell-to-cover, restricted shares, Class A ordinary shares, controlled corporation, +1 more

5 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

"tax withholding obligations 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.

controlled corporation financial

"By Big dream investments Limited, a controlled corporation of the reporting person"

indirect ownership financial

""ownership_type": "indirect""

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/09/2026 - 06:15 AM Accepted by SEC EDGAR 07/09/2026 - 06:14 AM Learn about SEC filing dates

FAQ

What insider transaction did Vipshop (VIPS) director Chun Liu report?

Director Chun Liu reported selling 174 Class A ordinary shares of Vipshop at $67.309 per share. The sale was executed as a sell-to-cover transaction to satisfy tax withholding obligations from vesting and settlement of restricted shares.

Was Chun Liu’s Vipshop (VIPS) share sale a discretionary transaction?

The filing states the 174 shares were sold in a "sell-to-cover" transaction. This means the sale’s primary purpose was to cover tax withholding on vested restricted shares, rather than representing a discretionary open-market reduction of Liu’s investment position.

How many Vipshop (VIPS) shares does Chun Liu hold after the reported transaction?

After the transaction, Chun Liu holds 6,119 Class A ordinary shares directly. In addition, 10,113 Class A ordinary shares are held indirectly through Big dream investments Limited, which is described as a controlled corporation of the reporting person.

What price did the Vipshop (VIPS) shares sell for in Chun Liu’s Form 4?

The 174 Class A ordinary shares were sold at a price of $67.309 per share. This price reflects the execution level for the sell-to-cover transaction used to satisfy tax withholding obligations related to vested restricted shares.

How significant is Chun Liu’s Vipshop (VIPS) share sale relative to total holdings?

The reported sale involved 174 shares, while Liu continues to hold 6,119 shares directly and 10,113 shares indirectly. This indicates the transaction represents a small fraction of the total holdings and is tied to tax withholding requirements.

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^*

Liu Chun

(Last) (First) (Middle)

TOWER B, POSCO CENTER

HONGTAI EAST STREET, CHAOYANG DISTRICT

(Street)

BEIJING 100102

(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)

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

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)		174	D	$67.309	6,119	D
Class A ordinary shares								10,113	I	By Big dream investments Limited, a controlled corporation of the reporting person.

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/ Chun Liu	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)