Zai Lab (ZLAB) CEO receives large ADS option and RSU grants

Rhea-AI Filing Summary

Zai Lab Ltd reported new equity awards to Chairperson and CEO Ying Du. On March 11, 2026, Du received stock options for 353,430 American Depositary Shares (ADSs) with an exercise price of 19.34 per ADS, expiring on March 11, 2036.

The filing also shows a grant of 32,419 Restricted Share Units (RSUs), each representing one ADS. Both the options and RSUs vest in equal annual installments over four years beginning on March 11, 2027, subject to continuous service. Each ADS represents ten ordinary shares of Zai Lab.

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

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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^*

Du Ying

(Last) (First) (Middle)

C/O ZAI LAB LIMITED

314 MAIN STREET, 4TH FLOOR, SUITE 100

(Street)

CAMBRIDGE MA 02142

(City) (State) (Zip)

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
X	Officer (give title below)		Other (specify below)
	Chairperson & CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026

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

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

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

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 Options (Right to Buy)	$19.34	03/11/2026		A		353,430		(2)	03/11/2036	American Depositary Shares(1)	353,430	$0	353,430	D
Restricted Share Units	(3)	03/11/2026		A		32,419		(4)	(4)	American Depositary Shares(1)	32,419	$0	32,419	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 03/11/2027, 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 03/11/2027, 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	03/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What equity awards did Zai Lab (ZLAB) grant to its CEO Ying Du?

Zai Lab granted Ying Du stock options over 353,430 ADSs and 32,419 RSUs as equity compensation. Both awards were granted on March 11, 2026, and are tied to the company’s American Depositary Shares, each representing ten ordinary shares.

How do the new stock options for Zai Lab (ZLAB) CEO vest?

The stock options granted to Ying Du vest in equal annual installments over four years. Vesting begins on March 11, 2027, the first anniversary of the grant date, and is conditioned on her continuous service with Zai Lab throughout the vesting period.

What are the key terms of the RSU grant to Zai Lab (ZLAB) CEO?

Ying Du received 32,419 Restricted Share Units, each representing a contingent right to one ADS. These RSUs vest in equal annual installments over four years starting March 11, 2027, with vested shares to be delivered in ADS form following vesting, subject to continuous service.

What is the exercise price and expiration for Zai Lab (ZLAB) CEO’s options?

The options granted to Ying Du have an exercise price of $19.34 per ADS and expire on March 11, 2036. This gives her a long-term opportunity to acquire ADSs at that price if vesting and other conditions are met.

How are Zai Lab (ZLAB) ADSs related to its ordinary shares in this Form 4?

Each Zai Lab American Depositary Share represents ten ordinary shares of the company. The Form 4 reports all option and RSU amounts in terms of ADSs, and both ADSs and ordinary shares are described as fully fungible for these reported awards.