[144] Zai Lab Limited American SEC Filing

Rhea-AI Filing Summary

Zai Lab Limited insider sale disclosure: The filing notifies a proposed sale of 1,883 American Depositary Shares (ADS) with an aggregate market value of $68,232.95, to be sold approximately on 08/18/2025 on NASDAQ. The ADS were acquired on 08/15/2025 by restricted stock vesting from the issuer and the consideration is listed as compensation.

The filer also reported a prior sale by the same person on 06/26/2025 of 5,877 ADS for $212,344.83. The notice includes the required representation that the selling person does not possess undisclosed material adverse information about the issuer.

Positive

• Transparent compliance: The filer provided required Rule 144 details including acquisition method, broker, and planned sale date.
• Disclosure of prior sales: The filing reports a recent sale on 06/26/2025 (5,877 ADS for $212,344.83), improving transparency about insider transactions.

Negative

• Insider liquidity: The insider sold ADS recently (5,877 on 06/26/2025 and proposing 1,883 on 08/18/2025), which some investors may view negatively despite small absolute amounts.

Insights

Securities Analyst

TL;DR: Routine Rule 144 disclosure for insider compensation shares; volumes are small relative to outstanding ADS.

The filing documents a planned sale of 1,883 ADS received via restricted stock vesting, valued at $68,232.95, with an outstanding ADS count reported as 421,725,450. The transaction appears to be a routine disposition of compensation-related shares under Rule 144 rather than an event tied to operational developments. Recent prior sale of 5,877 ADS for $212,344.83 is disclosed, which together with the current notice represents modest insider liquidity but is immaterial versus total outstanding ADS.

Corporate Governance Expert

TL;DR: Proper Rule 144 procedural disclosure; includes required represenation about material nonpublic information.

The notice fulfills procedural requirements by identifying the nature of acquisition (restricted stock vesting), amount, and broker details (Fidelity Brokerage Services). It confirms the signer represents no undisclosed material adverse information, and documents a prior related sale within three months. From a governance perspective, the filing is compliant and transparent for an insider compensation-related sale.

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	1883	68232.95	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			1883	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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Frazor T. Edmondson 899 Halei Road Building B, Pudong Shanghai F4 201203	American Depositary Shares	06/26/2025	5877	212344.83

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 1,883 ADS valued at $68,232.95, acquired via restricted stock vesting and planned for 08/18/2025 on NASDAQ.

Who is the selling person named on the ZLAB Form 144?

The filing identifies the seller as Frazor T. Edmondson for a prior sale entry and shows the current securities were acquired from the issuer as restricted stock vesting.

Were there any recent sales by the same person?

Yes. The filer reported a prior sale on 06/26/2025 of 5,877 ADS for $212,344.83.

How were the 1,883 ADS acquired?

The ADS were acquired on 08/15/2025 through restricted stock vesting from the issuer, with payment characterized as compensation.

Where will the proposed sale take place?

The notice lists the selling broker as Fidelity Brokerage Services LLC and the exchange as NASDAQ.