Zai Lab: April 2026 Share Capital Stable; Equity Incentive Activity Generates USD 0.02 Million Without Dilution

Bulletin Express
May 07

Zai Lab Limited reported no change in its share capital for April 2026. Authorised share capital remained at 5.00 billion ordinary shares with a par value of USD 0.000006 each, equivalent to USD 30,000. Issued shares stood unchanged at 1.13 billion, and the company continued to hold no treasury shares.

The public float requirement was met, with at least 25% of issued shares in public hands. Within the outstanding shares, 390.33 million are held in the form of American Depositary Shares.

Equity incentive schemes remained active but did not impact the total share count. Key movements included:

• 2015 Equity Incentive Plan: 4.79 million options outstanding; no exercises or lapses during the month. • 2017 Equity Incentive Plan: 0.56 million options lapsed, reducing outstanding options to 27.51 million. Separately, 0.69 million Restricted Share Units (RSUs) vested and 0.03 million lapsed; 3.30 million RSUs remain unvested. • 2022 Equity Incentive Plan: 0.01 million options exercised and 0.42 million lapsed, leaving 33.38 million options outstanding; 3.11 million RSUs vested and 0.05 million lapsed, with 6.68 million RSUs still unvested. • 2024 Equity Incentive Plan: 2.69 million new options granted, 0.01 million lapsed, lifting outstanding options to 17.33 million. Additionally, 6.04 million RSUs and 0.34 million Performance Share Units (PSUs) were granted, while 0.90 million RSUs vested and 0.04 million lapsed. Unvested balances now stand at 14.15 million RSUs and 3.09 million PSUs.

All option exercises and unit vestings were settled with existing issued shares; consequently, total issued shares were unaffected. Cash proceeds from option exercises totaled USD 0.02 million for the month.

Zai Lab’s equity structure thus remains intact, with continued compliance with Hong Kong Stock Exchange public float requirements despite ongoing employee equity incentive activity.

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