Zhihu (NYSE: ZH) director Hope Ni lists initial RSU and share holdings

Rhea-AI Filing Summary

Zhihu Inc. director Hope Ni has reported initial equity holdings with the company. The filing shows direct ownership of 135,468 restricted share units, each representing one Class A Ordinary Share, plus 10,000 Class A Ordinary Shares. The RSUs were granted on May 27, 2025 and vest in four equal annual installments, each 25% of the grant, contingent on continued Board service on each vesting date.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Ni Hope

Role Director

Type	Security	Shares	Price	Value
holding	Restricted Share Unit	--	--	--
holding	Class A Ordinary Shares	--	--	--

Holdings After Transaction: Restricted Share Unit — 135,468 shares (Direct); Class A Ordinary Shares — 10,000 shares (Direct)

Footnotes (1)

1. These restricted share units ("RSUs") were granted on May 27, 2025, 25% of the RSUs shall vest on each of the first, second, third, and fourth anniversaries of the grant date, subject to the Reporting Person's continued service on the Board through each such vesting date. Each RSU represents a contingent right to receive one Class A Ordinary Share of the Issuer.

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

Ni Hope

(Last) (First) (Middle)

SHOUSON HILL ROAD NO9, DEEP WATER BAY

(Street)

HONG KONG 999077

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Zhihu Inc. [ ZH ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

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

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

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Ordinary Shares	10,000	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Unit	(1)	(1)	Class A Ordinary Shares	135,468	(2)	D

Explanation of Responses:

1. These restricted share units ("RSUs") were granted on May 27, 2025, 25% of the RSUs shall vest on each of the first, second, third, and fourth anniversaries of the grant date, subject to the Reporting Person's continued service on the Board through each such vesting date.

2. Each RSU represents a contingent right to receive one Class A Ordinary Share of the Issuer.

	/s/ Hope Ni	03/18/2026
	** 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 5 (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 3: SEC 1473 (03-26)

FAQ

What does Zhihu (ZH) director Hope Ni report on this Form 3?

Hope Ni reports initial beneficial ownership in Zhihu, including restricted share units and ordinary shares. This establishes their starting equity position as a director and provides visibility into how much economic exposure they have to Zhihu’s Class A Ordinary Shares.

How many restricted share units does Hope Ni hold in Zhihu (ZH)?

Hope Ni holds 135,468 restricted share units of Zhihu. Each RSU represents a contingent right to receive one Class A Ordinary Share, aligning director compensation with shareholder value as these units vest over time subject to continued service on the Board.

What is the vesting schedule for Hope Ni’s Zhihu (ZH) RSUs?

The RSUs were granted on May 27, 2025 and vest over four years. Twenty-five percent vest on each of the first, second, third, and fourth anniversaries of the grant date, provided Hope Ni continues serving on Zhihu’s Board through each respective vesting date.

How many Zhihu (ZH) Class A Ordinary Shares does Hope Ni directly own?

In addition to RSUs, Hope Ni directly owns 10,000 Class A Ordinary Shares of Zhihu. These shares are already issued equity, separate from the RSUs, and reflect an immediate ownership stake in the company’s publicly traded Class A Ordinary Shares.

What does each restricted share unit represent for Zhihu (ZH)?

Each restricted share unit represents a contingent right to receive one Class A Ordinary Share of Zhihu. Delivery occurs as units vest, meaning actual shares are issued over time, tying director compensation to long-term company performance and ongoing Board service requirements.

Is this Zhihu (ZH) Form 3 a transaction or just an initial ownership report?

This Form 3 functions as an initial ownership report for director Hope Ni, not a buy or sell transaction. It records existing holdings of RSUs and Class A Ordinary Shares when the person became a reporting insider under U.S. securities regulations.