Equity grants for Zai Lab (ZLAB) operating partner Wang Yizhe

Rhea-AI Filing Summary

Zai Lab Ltd reported that officer Wang Yizhe, an Operating Partner, received new equity awards in the form of restricted share units and stock options. The grant includes 59,288 Restricted Share Units, each representing a contingent right to receive one American Depositary Share (ADS).

Wang also received 136,819 stock options to buy ADSs at an exercise price of $20.32 per ADS, expiring on May 11, 2036. Both the RSUs and options vest in equal annual installments over four years beginning on May 11, 2027, subject to continuous service. Each ADS represents ten ordinary shares, and the company notes that ADSs and ordinary shares are fully fungible.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Wang Yizhe

Role Operating Partner

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	136,819	$0.00	--
Grant/Award	Restricted Share Units	59,288	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 136,819 shares (Direct, null); Restricted Share Units — 59,288 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. The option vests in equal annual installments over four years beginning on 05/11/2027, the first anniversary of the date of grant, subject to continuous service. Each Restricted Share Unit ("RSU") represents a contingent right to receive one ADS. The RSUs vest in equal annual installments over four years beginning on 05/11/2027, the first anniversary of the date of grant, subject to continuous service. Vested shares will be delivered in the form of ADSs to the reporting person following vesting.

Key Figures

RSU grant size: 59,288 RSUs Option grant size: 136,819 options Option exercise price: $20.32 per ADS +4 more

7 metrics

RSU grant size 59,288 RSUs Grant of Restricted Share Units to Operating Partner Wang Yizhe

Option grant size 136,819 options Stock Option (Right to Buy) granted to Wang Yizhe

Option exercise price $20.32 per ADS Conversion or exercise price for stock options

Option expiration May 11, 2036 Expiration date of stock option grant

RSU vesting schedule 4 annual installments RSUs vest annually over four years from May 11, 2027

Option vesting schedule 4 annual installments Options vest annually over four years from May 11, 2027

ADS to ordinary share ratio 1 ADS = 10 ordinary shares Structure of Zai Lab’s American Depositary Shares

Key Terms

Restricted Share Units, American Depositary Shares, Stock Option (Right to Buy), vests in equal annual installments, +1 more

5 terms

Restricted Share Units financial

"Each Restricted Share Unit ("RSU") represents a contingent right to receive one ADS."

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

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.

Stock Option (Right to Buy) financial

"Stock Option (Right to Buy)"

vests in equal annual installments financial

"The option vests in equal annual installments over four years beginning on 05/11/2027"

contingent right financial

"Each Restricted Share Unit ("RSU") represents a contingent right to receive one ADS."

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Form 4 Insider Transactions: What Each Field Means →

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^*

Wang Yizhe

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/11/2026

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

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
Stock Option (Right to Buy)	$20.32	05/11/2026		A		136,819		(2)	05/11/2036	American Depositary Shares(1)	136,819	$0	136,819	D
Restricted Share Units	(3)	05/11/2026		A		59,288		(4)	(4)	American Depositary Shares(1)	59,288	$0	59,288	D

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. The option vests in equal annual installments over four years beginning on 05/11/2027, the first anniversary of the date of grant, subject to continuous service.

3. Each Restricted Share Unit ("RSU") represents a contingent right to receive one ADS.

4. The RSUs vest in equal annual installments over four years beginning on 05/11/2027, the first anniversary of the date of grant, subject to continuous service. Vested shares will be delivered in the form of ADSs to the reporting person following vesting.

	/s/ Bruce Blefeld, Attorney-in-Fact	06/08/2026
	** 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 insider transactions did Wang Yizhe report for ZLAB on this Form 4?

Wang Yizhe reported grants of RSUs and stock options. He received 59,288 Restricted Share Units and 136,819 stock options tied to Zai Lab American Depositary Shares, all as compensation-related awards rather than open‑market purchases or sales.

How many Zai Lab RSUs did Wang Yizhe receive in this filing for ZLAB?

He received 59,288 Restricted Share Units. Each RSU represents a contingent right to receive one American Depositary Share of Zai Lab, with the underlying ADSs to be delivered as the RSUs vest over time, subject to his continued service.

What are the key terms of Wang Yizhe’s Zai Lab stock option grant?

He was granted 136,819 stock options at $20.32 per ADS. The options relate to American Depositary Shares, expire on May 11, 2036, and vest in equal annual installments over four years starting May 11, 2027, contingent on continuous service.

When do Wang Yizhe’s ZLAB RSUs and options start vesting?

Both the RSUs and options begin vesting on May 11, 2027. Vesting occurs in equal annual installments over four years, so full vesting completes in 2030, assuming he maintains continuous service with Zai Lab throughout the vesting period.

How do Zai Lab ADSs relate to ordinary shares in this ZLAB Form 4?

Each American Depositary Share represents ten ordinary shares. The company states its ADSs and ordinary shares are fully fungible, and for this Form 4 all reported equity awards and underlying securities are presented in terms of ADSs rather than ordinary shares.