ZLAB insider files to sell 6,641 ADSs after restricted vesting

Rhea-AI Filing Summary

Zai Lab Limited (ZLAB) Form 144 filing reports a proposed sale of 6,641 American Depositary Shares acquired by restricted stock vesting on 08/15/2025. The filing lists the broker as Fidelity Brokerage Services LLC and an aggregate market value of $240,645.27. The filing shows 421,725,450 shares outstanding and an approximate sale date of 08/18/2025 on NASDAQ. The filer certifies no undisclosed material adverse information and discloses no other sales in the past three months.

Positive

• Transparent disclosure of acquisition method (restricted stock vesting) and planned sale details
• No sales reported by the filer in the past three months
• Filer attestation that no undisclosed material adverse information is known

Negative

• Insider sale of vested ADSs (6,641 shares) may be perceived negatively by some investors despite small size

Insights

Securities Analyst

TL;DR: Insider sale of vested restricted ADSes is disclosed; size is small relative to outstanding shares.

The filing documents a routine proposed sale of 6,641 ADSs received from restricted stock vesting on 08/15/2025, scheduled to be sold through Fidelity on or about 08/18/2025. With an aggregate market value of $240,645.27 versus 421,725,450 shares outstanding, the transaction is immaterial to the companys capitalization. The filing also affirms the filer is unaware of any undisclosed material adverse information. No prior sales in the past three months are reported, reducing likelihood of a larger selling pattern in this short window.

Corporate Governance Expert

TL;DR: Disclosure follows Rule 144 requirements; documentation indicates compensation-origin shares being liquidated.

The notice specifies acquisition by restricted stock vesting and payment characterized as compensation, consistent with employee or insider compensation events. The use of a major broker and the filers attestation about material information align with standard compliance practice. The small absolute size relative to outstanding shares suggests limited governance or control implications from this single filing.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
American Depositary Shares	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	6641	240645.27	421725450	08/18/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
American Depositary Shares	08/15/2025	Restricted Stock Vesting	Issuer			6641	08/15/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does ZLAB Form 144 report?

The filing reports a proposed sale of 6,641 American Depositary Shares acquired via restricted stock vesting on 08/15/2025, to be sold through Fidelity Brokerage Services LLC around 08/18/2025.

How much are the shares worth in this Form 144?

The aggregate market value reported is $240,645.27 for the 6,641 ADSs.

Is this sale large compared to ZLABs outstanding shares?

No; the filing lists 421,725,450 shares outstanding, making this filing immaterial in percentage terms.

Was the acquisition part of compensation for the filer?

Yes. The securities were acquired by restricted stock vesting and the nature of payment is listed as compensation.

Did the filer report other sales in the past three months?

The filing states "Nothing to Report" for securities sold during the past three months.