Yajing Chen - 14 Aug 2025 Form 4 Insider Report for Zai Lab Ltd (ZLAB)

Role: Chief Financial Officer
Signature: /s/ Bruce Blefeld, Attorney-in-Fact
Issuer symbol: ZLAB
Transactions as of: 14 Aug 2025
Net transactions value: -$50,932
Form type: 4
Filing time: 18 Aug 2025, 16:29:46 UTC
Previous filing: 12 Aug 2025
Next filing: 03 Oct 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Chen Yajing	Chief Financial Officer	C/O ZAI LAB LIMITED, 314 MAIN STREET, 4TH FLOOR, SUITE 100, CAMBRIDGE	/s/ Bruce Blefeld, Attorney-in-Fact	18 Aug 2025	0001985694

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZLAB	American Depositary Shares	Options Exercise		+1,250	+7.4%		18,158	14 Aug 2025	Direct	F1, F2, F3
transaction	ZLAB	American Depositary Shares	Sale	$21,513	-610	-3.4%	$35.27	17,548	15 Aug 2025	Direct	F1, F4
transaction	ZLAB	American Depositary Shares	Sale	$29,419	-828	-4.7%	$35.53	16,720	15 Aug 2025	Direct	F1, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ZLAB	Restricted Share Units	Options Exercise	$0	-1,250	-33%	$0.000000	2,500	14 Aug 2025	American Depositary Shares	1,250		Direct	F1, F3, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id	Content
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	ADSs acquired upon vesting of Restricted Share Units ("RSUs").
F3	Each RSU represents a contingent right to receive one ADS.
F4	These ADSs were sold automatically to cover taxes upon vesting of RSUs.
F5	This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 3, 2025.
F6	The RSUs vest in equal annual installments over four years beginning on 08/14/2024, the first anniversary of the date of grant. Vested shares will be delivered in the form of ADSs to the reporting person following vesting.