ZTO Express (NYSE: ZTO) VP Wang Jilei reports major direct and indirect stakes

Rhea-AI Filing Summary

ZTO Express (Cayman) Inc. director and VP of Infrastructure Management Wang Jilei filed an initial ownership report listing his equity interests. The filing shows options to acquire 21,000 Class A ordinary shares at an exercise price of $21.88 per share, expiring on March 22, 2034.

He indirectly owns 40,835,000 Class A ordinary shares through Zto Wjl Holding Limited and indirectly owns 1,253,065 American depositary shares (ADSs) through Zto Wlj Holding Limited. He also directly holds 15,538 ADSs

03/16/2026 - 07:44 AM

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Wang Jilei

(Last) (First) (Middle)

BUILDING ONE, NO. 1685 HUAZHI ROAD

(Street)

SHANGHAI F4 201708

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/16/2026

3. Issuer Name and Ticker or Trading Symbol
ZTO Express (Cayman) Inc. [ ZTO ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP of Infrastr. Mgmt.

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A ordinary shares	40,835,000	I	By Zto Wjl Holding Limited
American depositary shares(1)	1,253,065	I	By Zto Wlj Holding Limited
American depositary shares(1)	15,538	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options (right to buy)	(2)	03/22/2034	Class A ordinary shares	21,000	$21.88	D

Explanation of Responses:

1. Each represents one Class A ordinary share.

2. These options were granted on March 22, 2024 and vest in equal installments over a three-year period.

	/s/ Jilei Wang	03/16/2026
	** 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 5 (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.
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FAQ

What does the Form 3 filing show for ZTO insider Wang Jilei?

The Form 3 shows Wang Jilei’s existing equity holdings in ZTO Express, including options, Class A ordinary shares, and ADSs. It is an initial ownership report and does not reflect new purchases or sales of securities.

How many options does Wang Jilei hold in ZTO Express (ZTO)?

He holds options to acquire 21,000 Class A ordinary shares at an exercise price of $21.88 per share. These options were granted on March 22, 2024 and vest in equal installments over three years, expiring on March 22, 2034.

What indirect shareholdings does Wang Jilei report in ZTO (ZTO)?

He indirectly owns 40,835,000 Class A ordinary shares through Zto Wjl Holding Limited and 1,253,065 American depositary shares through Zto Wlj Holding Limited. These holdings are reported as indirect interests associated with entities bearing his initials.

How many American depositary shares does Wang Jilei hold in ZTO Express?

He reports 1,253,065 ADSs held indirectly via Zto Wlj Holding Limited and 15,538 ADSs held directly. Each American depositary share represents one Class A ordinary share, aligning ADS counts directly with underlying ordinary share exposure.

What is the relationship between ZTO’s ADSs and Class A ordinary shares?

Each American depositary share of ZTO represents one Class A ordinary share. This 1:1 relationship means ADS counts correspond directly to the same number of underlying Class A ordinary shares for measuring total economic exposure.

Does this ZTO Form 3 indicate any recent insider trading activity?

No, the Form 3 lists existing holdings and derivative positions for Wang Jilei as a director and officer. The transaction codes are unspecified, and the entries are classified as holdings rather than new market purchases or sales.