[144] Zai Lab Limited American SEC Filing

Rhea-AI Filing Summary

Zai Lab Limited (ZLAB) filing of Form 144 notifies the market of a proposed sale of 828 American Depositary Shares (ADS) to be executed through Fidelity Brokerage Services on 08/15/2025 on Nasdaq. The ADS were acquired on 08/14/2025 upon restricted stock vesting and are being sold as compensation. The filing shows total shares outstanding of 421,725,450 ADS and an aggregate market value for the proposed sale of $29,418.84.

The notice also lists prior sales by the same person during the past three months totaling 16,389 ADS with gross proceeds of $528,496.72, and includes the standard signer representation that no material nonpublic information is known.

Positive

• Form 144 filed providing full disclosure of the proposed sale, including broker, timing, and consideration
• Securities originated from restricted stock vesting, which clarifies the acquisition source

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine insider sale disclosure; transaction size is immaterial relative to outstanding shares.

The Form 144 reports a proposed sale of 828 ADS resulting from restricted stock vesting, with prior dispositions totaling 16,389 ADS in the past three months. Against 421,725,450 ADS outstanding, these amounts are de minimis and unlikely to materially affect market supply or valuation. The filing follows required disclosure protocols and provides broker, timing, and consideration details needed for market transparency.

Corporate Governance Expert

TL;DR: Disclosure appears compliant; transactions are routine and documented as compensation-related.

The notice includes the necessary elements: issuer, broker, number of shares, acquisition date and nature (restricted stock vesting), and statement about material nonpublic information. The inclusion of recent sales history supports transparency. No governance red flags or unexplained off-market transfers are evident from the disclosed data.

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	828	29418.84	421725450	08/15/2025	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	08/14/2025	Restricted Stock Vesting	Issuer			828	08/14/2025	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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Yajing Chen 899 Halei Road Building B, Pudong Shanghai F4 201203	American Depositary Shares	06/02/2025	9618	288540.00
Yajing Chen 899 Halei Road Building B, Pudong Shanghai F4 201203	American Depositary Shares	06/26/2025	2675	96651.76
Yajing Chen 899 Halei Road Building B, Pudong Shanghai F4 201203	American Depositary Shares	08/08/2025	4096	139304.96

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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 828 ADS acquired on 08/14/2025 from restricted stock vesting to be sold on 08/15/2025 through Fidelity on Nasdaq.

How many Zai Lab ADS are outstanding according to the filing?

The filing lists 421,725,450 ADS as the number of shares outstanding.

Were there other recent sales by the same person?

Yes. The notice discloses prior sales of 9,618 ADS on 06/02/2025, 2,675 ADS on 06/26/2025, and 4,096 ADS on 08/08/2025, totaling 16,389 ADS.

What was the aggregate market value of the proposed sale?

The aggregate market value for the proposed sale of 828 ADS is listed as $29,418.84.

What is the stated reason for the acquisition of the securities?

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