Zai Lab (ZLAB) CLO nets ADSs after RSU vesting and tax sale
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Zai Lab Ltd’s Chief Legal Officer, Edmondson Frazor Titus III, reported several equity compensation changes. He exercised restricted share units into a total of 22,290 American Depositary Shares (ADSs) at a conversion price of $0.00 per ADS-equivalent. Of these, 4,194 ADSs were automatically sold at $20.39 per ADS to cover taxes upon vesting, while the remainder were retained. He also received a grant of 11,924 performance-based share units tied to future ADS delivery. Following these transactions, he directly holds 24,590 ADSs.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 4,194 shares ($85,516)
Net Sell
10 txns
Insider
Edmondson Frazor Titus III
Role
Chief Legal Officer
Sold
4,194 shs ($86K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Units | 5,031 | $0.00 | -- |
| Exercise | American Depositary Shares | 5,031 | $0.00 | -- |
| Sale | American Depositary Shares | 4,194 | $20.39 | $86K |
| Exercise | Restricted Share Units | 2,671 | $0.00 | -- |
| Exercise | Restricted Share Units | 830 | $0.00 | -- |
| Exercise | Restricted Share Units | 13,758 | $0.00 | -- |
| Exercise | American Depositary Shares | 2,671 | $0.00 | -- |
| Exercise | American Depositary Shares | 830 | $0.00 | -- |
| Exercise | American Depositary Shares | 13,758 | $0.00 | -- |
| Grant/Award | Performance-Based Share Units | 11,924 | $0.00 | -- |
Holdings After Transaction:
Restricted Share Units — 5,032 shares (Direct);
American Depositary Shares — 28,784 shares (Direct);
Performance-Based Share Units — 11,924 shares (Direct)
Footnotes (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. ADSs acquired upon vesting of Restricted Share Units ("RSUs"). Each RSU represents a contingent right to receive one ADS. These ADSs were sold automatically to cover taxes upon vesting of RSUs. Each performance-based share unit ("PSU") represents a contingent right to receive one ADS. The reporting person was granted PSUs on March 12, 2025 based on the satisfaction of specified performance criteria between January 1, 2025 through December 31, 2025. On March 4, 2026, the performance-based vesting conditions were confirmed for PSUs representing 11,924 ADSs. The PSUs vest in full on March 12, 2028, the third anniversary of the date of grant, subject to continuous service. The RSUs vest in equal annual installments over five years beginning on 04/01/2023, 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. The RSUs vested in equal annual installments over five years beginning on 04/01/2022, 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. The RSUs vest in equal annual installments over four years beginning on 04/01/2025, 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. The RSUs vest in equal annual installments over four years beginning on 04/03/2024, 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
ADSs sold for taxes: 4,194 ADSs at $20.39
ADSs from RSU exercises: 22,290 ADSs
Performance-based units granted: 11,924 PSUs
+2 more
5 metrics
ADSs sold for taxes
4,194 ADSs at $20.39
Automatic sale to cover taxes upon RSU vesting
ADSs from RSU exercises
22,290 ADSs
Total underlying ADSs from RSU exercises and conversions
Performance-based units granted
11,924 PSUs
Grant confirmed on March 4, 2026, each for one ADS
ADS holdings after transactions
24,590 ADSs
Direct ownership following exercises and tax-related sale
ADS to Ordinary Share ratio
1 ADS = 10 Ordinary Shares
Equivalence stated in footnotes; amounts reported in ADSs
Key Terms
Restricted Share Units, Performance-Based Share Units, American Depositary Shares, contingent right to receive one ADS, +1 more
5 terms
contingent right to receive one ADS financial
"Each RSU represents a contingent right to receive one ADS."
vesting financial
"The RSUs vest in equal annual installments over five years beginning on 04/01/2023."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
FAQ
What insider transactions did Zai Lab (ZLAB) report for its Chief Legal Officer?
Zai Lab’s Chief Legal Officer exercised multiple restricted share unit awards into ADSs, sold 4,194 ADSs to cover taxes, and received a new grant of 11,924 performance-based share units. After these transactions, he directly holds 24,590 American Depositary Shares.
How many Zai Lab (ZLAB) ADSs were sold and at what price in this Form 4?
The filing shows 4,194 American Depositary Shares sold at $20.39 per ADS. Footnotes state these ADSs were sold automatically to cover tax obligations arising from the vesting of restricted share units, rather than as a discretionary open-market sale.
How many Zai Lab (ZLAB) ADSs does the executive hold after these insider transactions?
Following the reported exercises and tax-related sale, the Form 4 states the executive directly owns 24,590 American Depositary Shares. This figure reflects his post-transaction position in ADSs after receiving vested shares and disposing of a portion to satisfy tax withholding needs.