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

Each Zai Lab American Depositary Share represents ten ordinary shares of the issuer. The company notes that its ADSs and ordinary shares are fully fungible, and for purposes of the Form 4, the transactions are reported in terms of ADSs rather than ordinary shares.

Zai Lab (ZLAB) director receives 22,371 ADS restricted share grant

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

WIRTH PETER reported acquisition or exercise transactions in this Form 4 filing.

Zai Lab Ltd director Peter Wirth received a grant of 22,371 American Depositary Shares (ADSs) as a stock award. The filing notes these are restricted shares that vest in full on June 17, 2027, if he continues serving on the board. After this grant, he directly holds 416,121 ADSs. Each ADS represents ten ordinary shares, and the award was made at no cash purchase price, reflecting equity-based director compensation rather than an open-market share purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider WIRTH PETER

Role null

Type	Security	Shares	Price	Value
Grant/Award	American Depositary Shares	22,371	$0.00	--

Holdings After Transaction: American Depositary Shares — 416,121 shares (Direct, null)

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. Represents restricted shares that vest in full on June 17, 2027, subject to the Reporting Person's continued service as a member of the issuer's board of directors through such vesting date.

Key Figures

Restricted ADS grant: 22,371 ADSs Holdings after grant: 416,121 ADSs Vesting date: June 17, 2027 +1 more

4 metrics

Restricted ADS grant 22,371 ADSs Stock award to director on June 17, 2026

Holdings after grant 416,121 ADSs Director’s direct ownership following the transaction

Vesting date June 17, 2027 Restricted shares vest if board service continues

ADS to ordinary share ratio 1 ADS = 10 ordinary shares Equivalence between ADSs and ordinary shares

Key Terms

American Depositary Shares, restricted shares, vest, board of directors, +1 more

5 terms

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.

restricted shares financial

"Represents restricted shares that vest in full on June 17, 2027"

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

vest financial

"restricted shares that vest in full on June 17, 2027"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

board of directors financial

"subject to the Reporting Person's continued service as a member of the issuer's board of directors"

The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.

fungible financial

"Our ADSs and Ordinary Shares are fully fungible."

Fungible describes an asset that is interchangeable with another of the same kind because each unit holds the same value and function. For investors this matters because fungible assets are easier to trade, price, and store—think of cash or grains where one unit can replace another, unlike a unique artwork or a signed collectible which may be worth more or less depending on provenance. Fungibility affects liquidity, market efficiency, and how assets are settled or regulated.

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Form 4 Insider Transactions: What Each Field Means →

06/22/2026 - 04:08 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^*

WIRTH PETER

(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)
06/17/2026

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⁾	06/17/2026		A		22,371⁽²⁾	A	$0	416,121	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. Represents restricted shares that vest in full on June 17, 2027, subject to the Reporting Person's continued service as a member of the issuer's board of directors through such vesting date.

	/s/ Bruce Blefeld, Attorney-in-Fact	06/22/2026
	** 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

FAQ

What did Zai Lab (ZLAB) director Peter Wirth report in this Form 4?

Peter Wirth reported receiving a grant of 22,371 American Depositary Shares from Zai Lab. The award is a stock-based grant with no cash purchase price and reflects equity compensation for his role on the company’s board of directors.

How many Zai Lab (ZLAB) ADSs does Peter Wirth hold after this grant?

After the reported grant, Peter Wirth directly holds 416,121 American Depositary Shares of Zai Lab. This total includes the newly awarded 22,371 ADSs and represents his direct ownership position following the June 17, 2026 equity grant.

When do Peter Wirth’s newly granted Zai Lab (ZLAB) shares vest?

The restricted shares granted to Peter Wirth vest in full on June 17, 2027. Vesting is conditioned on his continued service as a member of Zai Lab’s board of directors through that vesting date, according to the Form 4 footnote disclosure.

Was Peter Wirth’s Zai Lab (ZLAB) transaction an open-market purchase or a grant?

The transaction was a grant of restricted shares, not an open-market purchase. It is coded as a grant or award acquisition with a price of $0.0000 per ADS, indicating stock-based compensation tied to his board service rather than a discretionary market buy.