Frazor Titus Edmondson III - Jun 23, 2023 Form 4 Insider Report for Zai Lab Ltd (ZLAB)

Role: Chief Legal Officer
Signature: /s/ Bruce Blefeld, Attorney-in-Fact
Stock symbol: ZLAB
Transactions as of: Jun 23, 2023
Transactions value $: $279,413
Form type: 4
Date filed: 6/26/2023, 04:05 PM
Previous filing: Apr 5, 2023
Next filing: Aug 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZLAB	American Depositary Shares	Options Exercise	$369K	+14.6K	+66.52%	$25.30	36.5K	Jun 23, 2023	Direct	F1, F2
transaction	ZLAB	American Depositary Shares	Tax liability	-$90K	-3.56K	-9.73%	$25.30	33K	Jun 23, 2023	Direct	F1, F3

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	-14.6K	-25%	$0.00	43.8K	Jun 23, 2023	American Depositary Shares	14.6K	$0.00	Direct	F1, F4, F5

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

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 on vesting of Restricted Share Units. Each ADS represents ten Ordinary Shares of the issuer.
F3	This transaction represents the disposition of shares to cover taxes.
F4	Each Restricted Share Unit represents a contingent right to receive one ADS, which represents ten Ordinary Shares of the issuer.
F5	The Restricted Share Units vest in equal annual installments over four years beginning on 06/25/2023, the first anniversary of the date of grant. Vested shares will be delivered in the form of ADSs to the reporting person following vesting.