ZLAB insider discloses 456 ADS sale after restricted stock vesting

Rhea-AI Filing Summary

Zai Lab Ltd (ZLAB) filed a Form 144 reporting a proposed sale of 456 American Depositary Shares (ADS) with an aggregate market value of $15,616.68 to be sold on 10/02/2025 through Fidelity Brokerage Services on NASDAQ. The ADS were acquired on 10/01/2025 via restricted stock vesting and were paid as compensation. The filer also disclosed two prior sales in the last three months: 4,096 ADS sold on 08/08/2025 for $139,304.96 and 1,438 ADS sold on 08/15/2025 for $50,931.59. Total shares outstanding reported are 421,725,450. The filing includes the standard representation that the seller is unaware of any undisclosed material adverse information.

Positive

• Disclosure compliance: Form 144 filed and includes acquisition, sale dates, amounts, and broker information
• Source of shares disclosed: 456 ADS were acquired via restricted stock vesting and paid as compensation

Negative

• Insider selling activity: 5,534 ADS sold in the past three months for total gross proceeds of $190,236.55
• Small transaction relative to shares outstanding: While disclosed, the proposed 456 ADS represent a very small fraction of the 421,725,450 outstanding shares

Insights

Corporate Insider Transactions Analyst

TL;DR: Insider plans to sell a small block of ADS after recent vesting; prior open-market sales were disclosed.

The filing shows the sale arises from newly vested restricted ADS reported as compensation on 10/01/2025, with a proposed sale of 456 ADS on 10/02/2025 through Fidelity. The filer also disclosed two open-market sales in August totaling 5,534 ADS and roughly $190,236 in gross proceeds. These disclosures meet Rule 144 notice requirements and provide transparent timing and proceeds for investor review.

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	456	15616.68	421725450	10/02/2025	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	10/01/2025	Restricted Stock Vesting	Issuer			456	10/01/2025	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	08/08/2025	4096	139304.96
Yajing Chen 899 Halei Road Building B, Pudong Shanghaing F4 201203	American Depositary Shares	08/15/2025	1438	50931.59

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 is being proposed for sale in the ZLAB Form 144?

The filer proposes to sell 456 American Depositary Shares on 10/02/2025 through Fidelity Brokerage Services on NASDAQ with an aggregate market value of $15,616.68.

How were the 456 ADS acquired according to the filing?

The 456 ADS were acquired on 10/01/2025 through restricted stock vesting and were received as compensation.

What prior insider sales does the Form 144 disclose for ZLAB?

Two prior sales are disclosed: 4,096 ADS sold on 08/08/2025 for $139,304.96 and 1,438 ADS sold on 08/15/2025 for $50,931.59.

How many Zai Lab shares are outstanding per this filing?

The filing reports 421,725,450 shares outstanding.

Which broker will handle the proposed sale?

The filing lists Fidelity Brokerage Services LLC at the Smithfield, RI address as the broker.