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Zai Lab (ZLAB) CEO exercises 100K options and sells 100K ADSs under plan

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Zai Lab Ltd Chairperson and CEO Du Ying reported option exercises and share sales in American Depositary Shares (ADSs). On May 13–14, 2026, Du Ying exercised stock options to acquire 100,000 ADSs at a price of $1.74 per ADS equivalent, then sold 100,000 ADSs in open-market transactions at weighted average prices of $19.4432, $20.2223, and $20.0915 per ADS.

After these transactions, Du Ying directly holds 1,122,626 ADSs and 361,092 stock options outstanding. All trades were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on November 11, 2025, indicating the timing was set in advance rather than decided opportunistically.

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Insights

CEO exercised 100K options and sold 100K ADSs under a pre-set plan.

Du Ying, Chairperson and CEO of Zai Lab Ltd, exercised stock options for 100,000 ADSs at a strike-equivalent of $1.74 and sold 100,000 ADSs around $19–20 per ADS. This is a classic exercise-and-sell pattern converting options into cash.

Following the transactions, Du Ying still holds 1,122,626 ADSs and 361,092 options, so the sales represent a minority of the visible equity position in this filing. Importantly, the footnotes state the trades were executed under a Rule 10b5-1 trading plan adopted on November 11, 2025, suggesting they were pre-scheduled as part of structured liquidity and diversification rather than reactive market timing.

The filing does not change the company’s operations; it simply updates ownership and compensation activity. Future company filings may provide additional context on overall executive equity holdings and compensation design, but based on this data alone the transactions appear routine and compensation-driven.

Insider Du Ying
Role Chairperson & CEO
Sold 100,000 shs ($2.00M)
Type Security Shares Price Value
Exercise Stock Options (Right to Buy) 50,000 $0.00 --
Exercise American Depositary Shares 50,000 $1.74 $87K
Sale American Depositary Shares 50,000 $20.0915 $1.00M
Exercise Stock Options (Right to Buy) 50,000 $0.00 --
Exercise American Depositary Shares 50,000 $1.74 $87K
Sale American Depositary Shares 16,231 $19.4432 $316K
Sale American Depositary Shares 33,769 $20.2223 $683K
Holdings After Transaction: Stock Options (Right to Buy) — 361,092 shares (Direct, null); American Depositary Shares — 1,172,626 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 transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 11, 2025. Reflects a weighted average sale price of $19.4432 per share, at prices ranging from $18.89 to $19.87 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price. Reflects a weighted average sale price of $20.2223 per share, at prices ranging from $19.89 to $20.52 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price. Reflects a weighted average sale price of $20.0915 per share, at prices ranging from $19.56 to $20.46 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price. The option vested in equal annual installments over five years beginning on August 25, 2017, the first anniversary of the date of grant.
ADSs sold 100,000 ADSs Open-market sales on May 13–14, 2026
Option exercise size 100,000 ADSs Shares acquired via stock option exercises
Exercise price $1.74 per ADS equivalent Conversion or exercise price for stock options
Sale price (weighted avg) $19.4432 per ADS One tranche of ADS sales on May 13, 2026
Sale price (weighted avg) $20.2223 per ADS One tranche of ADS sales on May 13, 2026
Sale price (weighted avg) $20.0915 per ADS ADS sales on May 14, 2026
ADSs held after transactions 1,122,626 ADSs Direct holdings following reported trades
Options remaining 361,092 options Stock options outstanding after exercises
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.
Rule 10b5-1 trading plan regulatory
"The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average sale price financial
"Reflects a weighted average sale price of $19.4432 per share, at prices ranging from $18.89 to $19.87 per share."
Stock Options (Right to Buy) financial
"The option vested in equal annual installments over five years beginning on August 25, 2017"
conversion or exercise price financial
"conversion_or_exercise_price": "1.7400""
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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).
X
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*
Du Ying
(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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chairperson & CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
American Depositary Shares(1)05/13/2026M(2)50,000A$1.741,172,626D
American Depositary Shares(1)05/13/2026S(2)16,231D$19.4432(3)1,156,395D
American Depositary Shares(1)05/13/2026S(2)33,769D$20.2223(4)1,122,626D
American Depositary Shares(1)05/14/2026M(2)50,000A$1.741,172,626D
American Depositary Shares(1)05/14/2026S(2)50,000D$20.0915(5)1,122,626D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Options (Right to Buy)$1.7405/13/2026M(2)50,000 (6)08/25/2026American Depositary Shares(1)50,000$0411,092D
Stock Options (Right to Buy)$1.7405/14/2026M(2)50,000 (6)08/25/2026American Depositary Shares(1)50,000$0361,092D
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 transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 11, 2025.
3. Reflects a weighted average sale price of $19.4432 per share, at prices ranging from $18.89 to $19.87 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
4. Reflects a weighted average sale price of $20.2223 per share, at prices ranging from $19.89 to $20.52 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
5. Reflects a weighted average sale price of $20.0915 per share, at prices ranging from $19.56 to $20.46 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
6. The option vested in equal annual installments over five years beginning on August 25, 2017, the first anniversary of the date of grant.
/s/ Bruce Blefeld, Attorney-in-Fact05/15/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Zai Lab (ZLAB) CEO Du Ying report?

Du Ying reported exercising stock options for 100,000 American Depositary Shares and selling 100,000 ADSs in the open market. The sales occurred at weighted average prices around $19–20 per ADS across May 13–14, 2026, while retaining over 1.1 million ADSs.

At what prices did Zai Lab (ZLAB) CEO Du Ying sell ADSs?

The ADS sales used weighted average prices of $19.4432, $20.2223, and $20.0915 per share. Actual trades occurred within price ranges from $18.89 to $20.52 per ADS, as disclosed, with full breakdowns available on request from the issuer or regulators.

How many Zai Lab (ZLAB) shares does CEO Du Ying hold after these trades?

After the reported transactions, Du Ying directly holds 1,122,626 American Depositary Shares of Zai Lab. The filing also shows 361,092 stock options remaining outstanding, providing additional potential future equity exposure beyond the currently owned ADSs.

Were Zai Lab (ZLAB) CEO Du Ying’s recent sales under a Rule 10b5-1 plan?

Yes. The filing states all reported transactions were effected under a Rule 10b5-1 trading plan adopted on November 11, 2025. Such pre-arranged plans schedule trades in advance, aiming to separate executive liquidity activity from short-term market timing decisions.

What stock options did Zai Lab (ZLAB) CEO Du Ying exercise?

Du Ying exercised stock options labeled “Stock Options (Right to Buy)” for 100,000 underlying ADSs at a conversion or exercise price of $1.74 per share. After these exercises, 361,092 stock options remain outstanding, with an expiration date disclosed as August 25, 2026.

How significant are Zai Lab (ZLAB) CEO Du Ying’s reported sales relative to her holdings?

The reported open-market sales total 100,000 ADSs, while Du Ying continues to hold 1,122,626 ADSs directly. This means the transactions represent a minority of her visible equity stake in the company based on figures disclosed in this filing alone.