Zai Lab (ZLAB) director granted 22,371 restricted ADS vesting in 2027

Rhea-AI Filing Summary

Vounatsos Michel reported acquisition or exercise transactions in this Form 4 filing.

Zai Lab Ltd director Michel Vounatsos received an equity award of 22,371 American Depositary Shares (ADS), reported at a price of $0.00 per ADS, as a grant or award. These are restricted shares that vest in full on June 17, 2027, if he continues serving on the board through that date.

Following this grant, Vounatsos directly holds 72,787 ADS. Each ADS represents ten ordinary shares of Zai Lab, and the company states that its ADSs and ordinary shares are fully fungible.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Vounatsos Michel

Role null

Type	Security	Shares	Price	Value
Grant/Award	American Depositary Shares	22,371	$0.00	--

Holdings After Transaction: American Depositary Shares — 72,787 shares (Direct, null)

Footnotes (1)

1. Each American Depositary Share ("ADS") represents ten Ordinary Shares of the issuer. Our ADSs and Ordinary Shares are fully fungible. For purposes of this Form 4, we are reporting this in terms of ADSs. Represents restricted shares that vest in full on June 17, 2027, subject to the Reporting Person's continued service as a member of the issuer's board of directors through such vesting date.

Key Figures

Equity award size: 22,371 ADS Grant price: $0.00 per ADS Holdings after grant: 72,787 ADS +2 more

5 metrics

Equity award size 22,371 ADS Grant of restricted American Depositary Shares to director

Grant price $0.00 per ADS Reported transaction price for the award

Holdings after grant 72,787 ADS Director’s direct ownership following the transaction

Vesting date June 17, 2027 Restricted shares vest in full on this date

ADS to ordinary ratio 1 ADS = 10 ordinary shares Conversion relationship for Zai Lab securities

Key Terms

American Depositary Shares, restricted shares, vest in full, board of directors

4 terms

American Depositary Shares financial

"Each American Depositary Share ("ADS") represents ten Ordinary Shares of the issuer."

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.

restricted shares financial

"Represents restricted shares that vest in full on June 17, 2027"

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

vest in full financial

"restricted shares that vest in full on June 17, 2027"

board of directors financial

"subject to the Reporting Person's continued service as a member of the issuer's board of directors"

The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/22/2026 - 04:08 PM Accepted by SEC EDGAR 06/22/2026 - 04:08 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Vounatsos Michel

(Last) (First) (Middle)

C/O ZAI LAB LIMITED

314 MAIN STREET, 4TH FLOOR, SUITE 100

(Street)

CAMBRIDGE MASSACHUSETTS 02142

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Zai Lab Ltd [ ZLAB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
American Depositary Shares(1)	06/17/2026		A		22,371(2)	A	$0	72,787	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Each American Depositary Share ("ADS") represents ten Ordinary Shares of the issuer. Our ADSs and Ordinary Shares are fully fungible. For purposes of this Form 4, we are reporting this in terms of ADSs.

2. Represents restricted shares that vest in full on June 17, 2027, subject to the Reporting Person's continued service as a member of the issuer's board of directors through such vesting date.

	/s/ Bruce Blefeld, Attorney-in-Fact	06/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Zai Lab (ZLAB) director Michel Vounatsos receive in this Form 4 filing?

Michel Vounatsos received a grant of 22,371 American Depositary Shares (ADS) of Zai Lab. The award is reported at a price of $0.00 per ADS and represents restricted shares granted as part of his compensation as a member of the board of directors.

When do Michel Vounatsos’s new Zai Lab (ZLAB) restricted shares vest?

The restricted Zai Lab shares awarded to Michel Vounatsos vest in full on June 17, 2027. Vesting is contingent on his continued service as a member of the company’s board of directors through that vesting date, according to the Form 4 footnotes.

How many Zai Lab (ZLAB) ADS does Michel Vounatsos own after this transaction?

After the grant, Michel Vounatsos directly holds 72,787 American Depositary Shares of Zai Lab. This total reflects his updated ownership following the 22,371 ADS award reported in the Form 4 insider transaction filing with the SEC.

What is the relationship between Zai Lab (ZLAB) ADS and ordinary shares?

Each Zai Lab American Depositary Share represents ten ordinary shares of the issuer. The company notes that its ADSs and ordinary shares are fully fungible, and for this Form 4, the holdings and grant amounts are reported in terms of ADSs.

Was the Zai Lab (ZLAB) Form 4 transaction a market purchase or sale?

The Form 4 reports a grant or award acquisition, not a market purchase or sale. The transaction code is “A,” indicating a grant of 22,371 restricted ADS at $0.00 per share as board-related equity compensation rather than an open-market trade.