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# KE Holdings CEO Peng Converts 526,428 Class B Shares To Class A After Share Cancellations
- URL: https://www.bullished.co/ke-holdings-ceo-peng-converts-526-428-class-b-shares-to-class-a-after-share-cancellations-eb3dded0/
- Published: 2026-10-22T10:31:35.000Z
- Updated: 2026-10-28T18:35:46.000Z
- Description: The one-for-one swap follows the company's October 20 cancellation of repurchased shares and leaves Peng's indirect stakes in both classes in place.
- Author: Matteo Parrino
- Tags: Insider Trades, BEKE, Industry: Real Estate

KE Holdings CEO Yongdong Peng swapped [526,428 Class B ordinary shares](https://www.sec.gov/Archives/edgar/data/0001890584/000119312526428272/xslF345X06/ownership.xml?ref=bullished.co) for Class A stock on Tuesday, per a [Form 4](https://www.bullished.co/learn/insider-selling-meaning/), the report insiders file after trading. It was a share-class swap coded J, not an open-market sale.

## What the filing shows

The Form 4, filed Thursday, reports the conversion on a one-for-one ratio under the Hong Kong listing rules. It gives no per-share price or transaction value.

After the swap, Peng holds 63,350,679 Class A and 93,555,863 Class B ordinary shares. Both lines are indirect, held through a controlled corporation, with no direct holdings in either class.

The two classes are reported separately and should not be added together.

## Why the conversion happened

Per a footnote, the company cancelled 14,308,821 Class A shares tied to repurchased ADSs and 4,915,600 Class A shares bought back in Hong Kong on October 20.

Because Peng holds weighted voting rights under Hong Kong's listing rules, the footnote says those cancellations triggered his move of the 526,428 Class B shares into Class A.

## Earlier sale in the window

This conversion is not a sale. In the 90-day window starting July 24, the one earlier sale filing from Peng covered September 25, when he sold 16,033,983 shares at about $5.27 a share, or $84.6 million.

KE Holdings closed Wednesday at $17.35 per ADS, up about 10% this year and down about 6% over 12 months, according to market data.

The filing's own numbers show the swap moved 526,428 shares between classes, with Peng's indirect Class A and Class B holdings reported separately afterward.

Learn

- [Code J: other acquisitions or dispositions (read the footnote) →](https://www.bullished.co/learn/form-4-transaction-codes-explained/#code-j-other-acquisitions-or-dispositions-read-the-footnote)  
From Form 4 Transaction Codes Explained: What P, S, M, F, G, J, D And A Mean
- [How To Read A Form 4 SEC Filing, Box By Box →](https://www.bullished.co/learn/how-to-read-form-4-sec-filing/)  
Learn how to read a Form 4 SEC filing: who filed, Table I and II, transaction codes, price, shares owned after, footnotes, and real examples of each case.

### Sources

- [Form 4 — Yongdong Peng (BEKE)](https://www.sec.gov/Archives/edgar/data/0001890584/000119312526428272/xslF345X06/ownership.xml?ref=bullished.co) — SEC EDGAR