[Form 4] Zai Lab Ltd Insider Trading Activity

Rhea-AI Filing Summary

Zai Lab Ltd (ZLAB) reported an insider stock sale by its Chief Legal Officer. On 11/21/2025, the officer sold 14,328 American Depositary Shares (ADS) of Zai Lab in an open-market transaction coded as an "S" sale at a price of $19.78 per ADS. After this transaction, the officer beneficially owned 27,737 ADS, held directly.

Each ADS represents ten Ordinary Shares of Zai Lab, and the ADSs and Ordinary Shares are described as fully fungible. The filing notes that the trade was carried out under a Rule 10b5-1 trading plan adopted by the reporting person on 11/22/2024, indicating it was pre-arranged under that rule’s affirmative defense framework.

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).

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^*

Edmondson Frazor Titus III

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

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
American Depositary Shares(1)	11/21/2025		S(2)		14,328	D	$19.78	27,737	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

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 transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 22, 2024.

	/s/ Bruce Blefeld, Attorney-in-Fact	11/25/2025
	** 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.

FAQ

What insider transaction did Zai Lab (ZLAB) disclose in this Form 4?

The Chief Legal Officer of Zai Lab Ltd (ZLAB) reported selling 14,328 American Depositary Shares (ADS) of the company on 11/21/2025 in a transaction coded as a sale.

What price did the Zai Lab (ZLAB) insider receive for the shares sold?

The reported sale of 14,328 ADS of Zai Lab Ltd was executed at a price of $19.78 per ADS.

How many Zai Lab (ZLAB) shares does the insider own after the transaction?

Following the transaction, the reporting person beneficially owned 27,737 American Depositary Shares of Zai Lab Ltd, held with a direct ownership form.

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

Yes. The filing states that the transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 11/22/2024.

What is the relationship between Zai Lab ADS and Ordinary Shares?

Each American Depositary Share of Zai Lab Ltd represents ten Ordinary Shares, and the filing notes that the ADSs and Ordinary Shares are fully fungible.

What is the reporting persons role at Zai Lab (ZLAB)?

The reporting person is identified as an officer of Zai Lab Ltd, serving in the role of Chief Legal Officer.