Kanzhun Ltd Chief Marketing Officer Chen Xu filed a Form 4 on September 11, 2026, disclosing the exercise of vested options and the same-day sale of 200,000 Class A ordinary shares on September 10, 2026.

Key Highlights

  • Option exercise: Chen Xu exercised options covering 200,000 Class A ordinary shares at an exercise price of $0.50 per share on September 10, 2026.
  • Shares sold: 200,000 Class A ordinary shares were sold in the form of American Depositary Shares (ADS) at $8.15 per share on September 10, 2026.
  • Post-transaction direct holdings: Following the transactions, Chen Xu directly held 153,340 Class A ordinary shares.
  • Indirect holdings: Chen Xu also holds 184,522 Class A ordinary shares indirectly through KZBZ Limited, which is held by Maples Trustee Services (Cayman) Limited as trustee of an employee shareholding trust.
  • Remaining options: Chen Xu beneficially owns 709,000 options (right to buy) following the reported transactions, with an expiration date of February 18, 2031.
  • Fully vested: According to the filing, all options granted have been fully vested and are exercisable as of the date of the filing.

Kanzhun CMO Reports Cashless Option Exercise and ADS Sale

According to the Form 4 filed with the SEC on September 11, 2026, Chen Xu, who serves as both a Director and Chief Marketing Officer of Kanzhun Ltd (NASDAQ:BZ), reported two non-derivative transactions and one derivative transaction all dated September 10, 2026. The filing covers Class A ordinary shares of the issuer, which are held and traded through American Depositary Shares, with each ADS representing two Class A ordinary shares.

The filing discloses that Chen Xu exercised options (transaction code M) to acquire 200,000 Class A ordinary shares at a price of $0.50 per share. Immediately following that exercise, 200,000 Class A ordinary shares were disposed of (transaction code S) at $8.15 per share. The filing states this sale "represents Class A ordinary shares sold in the form of ADS in connection with the cashless exercise of the Options reported on this Form 4." After these two transactions, Chen Xu's direct beneficial ownership stood at 153,340 Class A ordinary shares.

In addition to the direct holdings, the filing reports 184,522 Class A ordinary shares held indirectly through KZBZ Limited. According to the filing, "the shares of KZBZ Limited are held by Maples Trustee Services (Cayman) Limited as trustee of an employee shareholding trust, for the benefit of employees including Mr. Xu Chen." On the derivative side, Chen Xu retains 709,000 options with a $0.50 exercise price, expiring February 18, 2031, which the filing states are fully vested and exercisable. The issuer is also listed on the Hong Kong Stock Exchange under the foreign trading symbol HKEX: 2076.

What Was Disclosed

Chen Xu, Director and Chief Marketing Officer of Kanzhun Ltd, disclosed a cashless option exercise and sale of 200,000 Class A ordinary shares on September 10, 2026, leaving direct holdings of 153,340 shares and 709,000 remaining vested options.