Li-Lan Cheng sold $1K of ZH stock

Li-Lan Cheng, Dir of Zhihu Inc. (ZH), sold 360 shares of ZH stock worth $1K, per an SEC Form 4 filed Jun 12, 2026.

The sale was pre-arranged (a 10b5-1 plan or an option exercise), not a fresh decision.

The trade happened on May 27, 2026, 16 days before it was made public.

ZH has moved -9.5% since the trade date, from $2.94 to $2.66 (Nov 13, 2026 close).