What does each American Depositary Share of Zai Lab (ZLAB) represent?

Each Zai Lab American Depositary Share (ADS) represents ten ordinary shares of the issuer, and the filing notes that ADSs and ordinary shares are fully fungible.

Zai Lab Ltd (ZLAB) director William Lis sells 8,506 ADS at $25 under 10b5-1 plan

Q: What insider transaction did Zai Lab Ltd (ZLAB) report for William Lis?

Zai Lab Ltd reported that director William Lis sold 8,506 ADS on August 12, 2026 in a sale coded "S" for open-market or private transactions.

Q: How many Zai Lab (ZLAB) ADS does William Lis hold after this transaction?

After the reported sale, William Lis directly holds 41,931 ADS of Zai Lab Ltd, according to the post-transaction ownership figure in the Form 4 filing.

Q: Was the Zai Lab (ZLAB) insider sale by William Lis under a Rule 10b5-1 plan?

Yes. The filing states the sale was effected under a Rule 10b5-1 trading plan that William Lis adopted on September 10, 2025 , indicating it was pre-arranged.

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Zai Lab Ltd director William Lis reported selling 8,506 American Depositary Shares (ADS) of the company on August 12, 2026 at $25.00 per ADS, in an open-market or private sale. The transaction was effected under a Rule 10b5-1 trading plan adopted on September 10, 2025. Following this sale, Lis directly holds 41,931 ADS, with each ADS representing ten ordinary shares.

Insider Trade Summary 10b5-1

Net Seller: 8,506 shares

Net Sell 1 txn

Insider Lis William

Role Director

Sold 8,506 shs ($213K)

Type	Security	Shares	Price	Value
Sale	American Depositary Shares ^{F1, F2}	8,506	$25.00	$213K

Holdings After Transaction: American Depositary Shares — 41,931 shares (Direct)

Footnotes (2)

F1. 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.
F2. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 10, 2025.

Key Figures

ADS sold: 8,506 ADS Sale price per ADS: $25.00 ADS held after transaction: 41,931 ADS +2 more

5 metrics

ADS sold 8,506 ADS American Depositary Shares sold on August 12, 2026

Sale price per ADS $25.00 Price per ADS for the August 12, 2026 sale

ADS held after transaction 41,931 ADS Direct holdings following the reported sale

ADS to ordinary share ratio 10 ordinary shares per ADS Each ADS represents ten ordinary shares of the issuer

10b5-1 plan adoption date September 10, 2025 Date William Lis adopted the Rule 10b5-1 trading plan

Key Terms

American Depositary Shares, Rule 10b5-1 trading plan, fully fungible

3 terms

American Depositary Shares financial

"Each American Depositary Share ("ADS") represents ten Ordinary Shares"

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 sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan"

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.

fully fungible financial

"Our ADSs and Ordinary Shares are fully fungible"

FAQ

What insider transaction did Zai Lab Ltd (ZLAB) report for William Lis?

Zai Lab Ltd reported that director William Lis sold 8,506 ADS on August 12, 2026 in a sale coded "S" for open-market or private transactions.

At what price were the 8,506 ADS of Zai Lab (ZLAB) sold by William Lis?

The 8,506 American Depositary Shares were sold at an average price of $25.00 per ADS, as disclosed, with the price reported on a per-share basis.

How many Zai Lab (ZLAB) ADS does William Lis hold after this transaction?

After the reported sale, William Lis directly holds 41,931 ADS of Zai Lab Ltd, according to the post-transaction ownership figure in the Form 4 filing.

Was the Zai Lab (ZLAB) insider sale by William Lis under a Rule 10b5-1 plan?

Yes. The filing states the sale was effected under a Rule 10b5-1 trading plan that William Lis adopted on September 10, 2025, indicating it was pre-arranged.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/13/2026 - 04:16 PM Accepted by SEC EDGAR 08/13/2026 - 04:15 PM

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^*

Lis William

(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)
08/12/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
American Depositary Shares⁽¹⁾	08/12/2026		S⁽²⁾		8,506	D	$25	41,931	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 10, 2025.

	/s/ Bruce Blefeld, Attorney-in-Fact	08/13/2026
	** 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)

Source: View Original Filing on SEC EDGAR