Zhihu (NYSE: ZH) director receives 135,468 RSUs vesting over 4 years

Rhea-AI Filing Summary

Chen Derek reported acquisition or exercise transactions in this Form 4 filing.

Zhihu Inc. director Derek Chen reported a grant of 135,468 restricted share units (RSUs) linked to Class A Ordinary Shares. The RSUs were granted on June 3, 2026, with 25% vesting on each of the first four anniversaries of the grant date, as long as he continues serving on the Board. Each RSU represents a contingent right to receive one Class A Ordinary Share, and following this grant Chen holds 135,468 RSUs directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Chen Derek

Role null

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Unit	135,468	$0.01	$1K

Holdings After Transaction: Restricted Share Unit — 135,468 shares (Direct, null)

Footnotes (1)

1. These restricted share units ("RSUs") were granted on June 3, 2026, 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.

Key Figures

RSUs granted: 135,468 RSUs Grant transaction price: $0.01 per RSU Post-transaction RSU holdings: 135,468 RSUs +2 more

5 metrics

RSUs granted 135,468 RSUs Grant to director Derek Chen on June 3, 2026

Grant transaction price $0.01 per RSU Reported transaction price per restricted share unit

Post-transaction RSU holdings 135,468 RSUs Total restricted share units held after the grant

Vesting schedule 25% per year over 4 years Annual vesting on each anniversary of June 3, 2026

Underlying shares 1 Class A share per RSU Each RSU represents one Class A Ordinary Share

Key Terms

Restricted Share Unit, RSUs, Class A Ordinary Shares, vesting

4 terms

Restricted Share Unit financial

"These restricted share units ("RSUs") were granted on June 3, 2026"

A restricted share unit (RSU) is a promise by a company to give an employee a set number of company shares at a future date, typically after meeting time or performance conditions. For investors, RSUs matter because when they convert into actual shares they increase the number of shares outstanding (like unlocking more tickets in a game), which can dilute existing holders, and they align employee incentives with company performance, influencing behavior and long-term value.

RSUs financial

"25% of the RSUs shall vest on each of the first, second, third, and fourth anniversaries"

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

Class A Ordinary Shares financial

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

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.

vesting financial

"25% of the RSUs shall vest on each of the first, second, third, and fourth anniversaries"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

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Form 4 Insider Transactions: What Each Field Means →

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^*

Chen Derek

(Last) (First) (Middle)

1601, G3 BIHAIYUAN, 97 YAO JIA YUEN ROAD

(Street)

BEIJING 100025

(City) (State) (Zip)

CHINA

(Country)

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

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
[HKEX: 2390]

3. Date of Earliest Transaction (Month/Day/Year)
06/03/2026

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

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
Restricted Share Unit(1)	(2)	06/05/2026		A		135,468		(1)	(1)	Class A Ordinary Shares	135,468	$0.01	135,468	D

Explanation of Responses:

1. These restricted share units ("RSUs") were granted on June 3, 2026, 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/ Derek Chen	06/12/2026
	** 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)

FAQ

What insider transaction did Zhihu (ZH) report for director Derek Chen?

Zhihu reported that director Derek Chen received a grant of 135,468 restricted share units (RSUs). These units are a form of stock-based compensation that can convert into Class A Ordinary Shares over time, aligning his interests with long-term shareholder value.

How many RSUs did Zhihu (ZH) grant to Derek Chen and what do they represent?

Zhihu granted Derek Chen 135,468 restricted share units. Each RSU represents a contingent right to receive one Class A Ordinary Share of Zhihu, meaning the award could translate into 135,468 Class A shares if all vesting conditions are satisfied over time.

What is the vesting schedule for Derek Chen’s RSU grant at Zhihu (ZH)?

The RSUs granted to Derek Chen vest in four equal installments. Twenty-five percent of the 135,468 RSUs vest on each of the first, second, third, and fourth anniversaries of the June 3, 2026 grant date, subject to his continued service on Zhihu’s Board.

Is Derek Chen’s RSU grant at Zhihu (ZH) an open-market purchase or compensation?

Derek Chen’s 135,468 RSU grant is compensation, not an open-market share purchase. The Form 4 classifies the transaction under code A as a grant or award, indicating these units were awarded by Zhihu rather than bought or sold in the market.

How many Zhihu (ZH) RSUs does Derek Chen hold after this transaction?

After this RSU grant, Derek Chen directly holds 135,468 restricted share units. These units are tied to Class A Ordinary Shares and will convert into shares only as they vest over the four-year schedule and other grant conditions are met.

What type of security underlies Derek Chen’s Zhihu (ZH) RSU award?

Derek Chen’s RSU award is linked to Class A Ordinary Shares of Zhihu. Each restricted share unit corresponds to one Class A Ordinary Share, so the full grant of 135,468 RSUs could become 135,468 Class A shares if the vesting conditions are fully satisfied.