Peng Yongdong, Chief Executive Officer and Director of KE Holdings Inc. (NYSE:BEKE), filed a Form 4 on August 18, 2026, reporting a transaction dated August 14, 2026, involving the conversion of Class B ordinary shares into Class A ordinary shares at no cost.

Key Highlights

  • Transaction type: Code J transaction on August 14, 2026, with a price of $0 per share
  • Shares converted: 730,525 Class B ordinary shares disposed of and 730,525 Class A ordinary shares acquired, on a 1:1 ratio
  • Post-transaction holdings: 78,858,234 Class A ordinary shares and 94,082,291 Class B ordinary shares, both held indirectly by controlled corporation
  • Trigger for conversion: 26,677,794 Class A ordinary shares represented by repurchased ADSs and two Class A ordinary shares surrendered by a shareholder were canceled on August 14, 2026
  • Basis for conversion: Peng Yongdong holds weighted voting rights as defined under the Hong Kong Listing Rules, which governed the conversion
  • Foreign trading symbol: Also listed as SEHK: 2423, per the filing

Class B to Class A Conversion Following ADS Repurchase Cancellation at KE Holdings

According to the filing, the transaction reported by Peng Yongdong was triggered by a share cancellation event at KE Holdings Inc. On August 14, 2026, 26,677,794 Class A ordinary shares represented by repurchased ADSs, along with two Class A ordinary shares surrendered by a shareholder, were canceled. As a result of that cancellation, the filing states that Peng Yongdong, as a beneficiary of weighted voting rights as defined under the Hong Kong Listing Rules, converted 730,525 Class B ordinary shares into Class A ordinary shares on a 1:1 ratio under those same rules.

The filing records the transaction under code J, with a stated price of $0. Both the acquisition of 730,525 Class A ordinary shares and the disposal of 730,525 Class B ordinary shares are reported as indirect holdings, held by a controlled corporation. Following the reported transaction, the filing discloses beneficial ownership of 78,858,234 Class A ordinary shares and 94,082,291 Class B ordinary shares, both held indirectly through a controlled corporation.

Peng Yongdong is identified in the filing as both a Director and the Chief Executive Officer of KE Holdings Inc. The Form 4 was signed by Peng Yongdong and filed on August 18, 2026, covering the earliest transaction date of August 14, 2026. No derivative securities transactions were reported in Table II of the filing.

What Was Disclosed

The filing disclosed a code J conversion of 730,525 Class B ordinary shares into 730,525 Class A ordinary shares at $0, held indirectly by CEO Peng Yongdong through a controlled corporation, following the cancellation of repurchased ADS-represented shares on August 14, 2026.