Former Zai Lab (NASDAQ: ZLAB) executive lines up multi-million ADS sale

Rhea-AI Filing Summary

Zai Lab Ltd (ZLAB) is the issuer of American Depositary Shares that a former officer, Joshua L. Smiley, has notified for potential sale under Rule 144. The notice covers 98,653 American Depositary Shares, with an aggregate market value of $2,582,511.39, and an approximate sale date of August 20, 2026 through Fidelity Brokerage Services LLC on NASDAQ. The securities relate to a stock option exercise and are proposed to be sold for cash.

Key Figures

Number of Shares To Be Sold: 98,653 American Depositary Shares Aggregate Market Value: $2,582,511.39 Number of Shares Outstanding: 430,452,680 American Depositary Shares +2 more

5 metrics

Number of Shares To Be Sold 98,653 American Depositary Shares Number of shares to be sold under Rule 144

Aggregate Market Value $2,582,511.39 Aggregate market value of 98,653 American Depositary Shares to be sold

Number of Shares Outstanding 430,452,680 American Depositary Shares Number of shares or other units outstanding for the class listed

Approximate Date of Sale 08/20/2026 Approximate date of sale for the proposed Rule 144 transaction

Shares From Stock Option Exercise 98,653 American Depositary Shares Securities to be sold arising from a stock option exercise for cash

Key Terms

Rule 144, American Depositary Shares, aggregate market value, stock option exercise, +1 more

5 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

American Depositary Shares financial

"American Depositary Shares | Fidelity Brokerage Services LLC"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

aggregate market value financial

"98653 | 2582511.39 | 430452680 | 08/20/2026"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

stock option exercise financial

"American Depositary Shares | 08/20/2026 | Stock Option Exercise"

A stock option exercise is the act of using a previously granted right to buy shares of a company's stock at a specific, predetermined price by paying that price and receiving the shares. It matters to investors because exercising changes who owns the shares (which can dilute existing ownership), can trigger taxable events and shift potential gains or losses, and affects voting power and the company’s outstanding share count—like turning a voucher into an actual product that becomes part of circulating supply.

Number of Shares or Other Units To Be Sold financial

"98653 | 2582511.39 | 430452680 | 08/20/2026"

FAQ

What does the Form 144 filing disclose about ZLAB and Joshua L. Smiley?

It discloses that former officer Joshua L. Smiley has filed a notice under Rule 144 to potentially sell 98,653 American Depositary Shares of Zai Lab Ltd (ZLAB), arising from a stock option exercise, through Fidelity Brokerage Services LLC.

How many ZLAB American Depositary Shares are covered by this Form 144?

The notice covers 98,653 American Depositary Shares of Zai Lab Ltd. This is the number of shares indicated as "Number of Shares or Other Units To Be Sold" in the Form 144 securities information section.

What is the aggregate market value of the ZLAB shares in this Form 144?

The filing lists an aggregate market value of $2,582,511.39 for the 98,653 American Depositary Shares of Zai Lab Ltd that are proposed to be sold under Rule 144.

When are the ZLAB shares expected to be sold according to the Form 144?

The Form 144 indicates an approximate date of sale of August 20, 2026 for the proposed sale of 98,653 American Depositary Shares of Zai Lab Ltd on NASDAQ.

What transaction type underlies the ZLAB shares to be sold in this Form 144?

The securities to be sold are linked to a stock option exercise. The Form 144 states that the 98,653 American Depositary Shares are to be sold following a stock option exercise, with the consideration described as cash.

Which broker is handling the potential sale of the ZLAB shares?

The potential sale of the 98,653 American Depositary Shares of Zai Lab Ltd is listed as being through Fidelity Brokerage Services LLC, with an intended sale on the NASDAQ market.

How many ZLAB shares are shown as outstanding in this Form 144?

The Form 144 lists 430,452,680 as the "Number of Shares or Other Units Outstanding" for the American Depositary Shares of Zai Lab Ltd as context for the proposed Rule 144 sale.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/20/2026 - 04:21 PM Accepted by SEC EDGAR 08/20/2026 - 04:20 PM Learn about SEC filing dates

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	0001725189
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Zai Lab Ltd
SEC File Number	001-38205
Address of Issuer	899 HALEI ROAD BUILDING B, PUDONG SHANGHAI CHINA 201203
Phone	862161632588
Name of Person for Whose Account the Securities are To Be Sold	Smiley Joshua L
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	Former Officer

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	98653	2582511.39	430452680	08/20/2026	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	08/20/2026	Stock Option Exercise	Issuer			98653	08/20/2026	Cash

* 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	08/20/2026
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	/s/Wade Moss, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for Joshua L. Smiley
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)