Director Zhang Kaifu of TAL Education Group filed a Form 4 on October 28, 2026, reporting transactions on October 26, 2026, including the full vesting of 15,300 restricted stock units, the withholding of 4,248 American Depositary Shares for taxes, and the award of 35,307 new stock options.

Key Highlights

  • RSU vesting: 15,300 restricted stock units vested in full on October 26, 2026, each representing the right to receive one ADS, at a price of $0.000.
  • Tax withholding: 4,248 ADSs were disposed of (transaction code F) at $10.24 per share to satisfy a tax withholding obligation.
  • Resulting ADS holdings: Following the transactions, Zhang Kaifu directly held 64,892 ADSs beneficially.
  • New stock options granted: 35,307 stock options were acquired on October 26, 2026, each exercisable for one ADS at $0.01, expiring October 26, 2036.
  • Vesting schedule for options: 11,769 ADSs vest on each of October 26, 2027; October 26, 2028; and October 26, 2029, subject to continued service.
  • ADS structure: Each three ADSs represent one Class A common share with a par value of $0.001 per share.

Zhang Kaifu's October 2026 Transactions in TAL Education ADSs

According to the Form 4 filed with the SEC on October 28, 2026, Zhang Kaifu, a director of TAL Education Group (NASDAQ:TAL), reported two non-derivative and two derivative security transactions, all dated October 26, 2026. The filing was signed by Jackson Ding as attorney-in-fact for Zhang Kaifu.

In the non-derivative table, the filing disclosed that 15,300 ADSs were acquired via transaction code M, reflecting the settlement of restricted stock units at a price of $0.000, bringing Zhang Kaifu's directly held ADSs to 69,140. Immediately following, 4,248 ADSs were disposed of via transaction code F at a price of $10.24 per share, reducing the direct holding to 64,892 ADSs. The filing's footnotes state that the RSUs vested in full on October 26, 2026, and that each RSU represented a contingent right to receive one ADS upon settlement. After the F transaction, the RSU derivative position stood at zero.

In the derivative table, the filing also reported the acquisition of 35,307 stock options (transaction code A), each exercisable for one ADS at an exercise price of $0.01 per share, with an expiration date of October 26, 2036. According to the filing's footnotes, these options vest in three equal tranches of 11,769 ADSs on October 26, 2027, October 26, 2028, and October 26, 2029, in each case subject to Zhang Kaifu's continued provision of service to the issuer on the applicable vesting date. Following this grant, Zhang Kaifu directly holds 35,307 stock options.

What Was Disclosed

The filing reported the full vesting of 15,300 RSUs, the withholding of 4,248 ADSs at $10.24 for taxes, and the grant of 35,307 stock options at $0.01 exercisable through 2036, leaving Zhang Kaifu with 64,892 directly held ADSs and 35,307 options.