Alibaba

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-09-25 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: Alibaba Group Holding Ltd (BABA) CIK: 0001577552 --- Reporting Owner --- Name: Xu Hong CIK: 0002114529 Role: Officer (Chief Financial Officer) --- Non-Derivative Transactions --- [Transaction #1] Security: Ordinary Shares Date: 2026-09-25 | Code: M (Exercise of derivative) Shares: +10,000 Shares Owned After: 290,496 | Ownership: D (Direct) Footnotes: [F1] Reflects restricted share units that vested and settled into American Depositary Shares ("ADSs"). Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the ADSs acquired in connection with such vesting. [Transaction #2] Security: Ordinary Shares Date: 2026-09-25 | Code: M (Exercise of derivative) Shares: +9,000 Shares Owned After: 299,496 | Ownership: D (Direct) Footnotes: [F2] Reflects restricted share units that vested and settled into ordinary shares. [Transaction #3] Security: Ordinary Shares Date: 2026-09-25 | Code: M (Exercise of derivative) Shares: +10,000 Shares Owned After: 309,496 | Ownership: D (Direct) Footnotes: [F2] Reflects restricted share units that vested and settled into ordinary shares. [Transaction #4] Security: Ordinary Shares Date: 2026-09-25 | Code: M (Exercise of derivative) Shares: +200,000 Shares Owned After: 509,496 | Ownership: D (Direct) Footnotes: [F2] Reflects restricted share units that vested and settled into ordinary shares. [Transaction #5] Security: Ordinary Shares Date: 2026-09-25 | Code: S (Open market sale) Shares: -103,046 | Price: $13.68 Total Value: $1,409,669.28 Shares Owned After: 406,450 | Ownership: D (Direct) Footnotes: [F3] Pursuant to the issuer's equity plan, these shares of ordinary shares were withheld and sold in the open market in Hong Kong on behalf of the reporting person to satisfy tax withholding obligations related to the reporting person's vesting of restricted shares units reported herein. [F4] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices denominated in Hong Kong dollars ranging from 105.60 to 108.40 inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The sales prices reported herein were converted from Hong Kong dollars to United States dollars at a conversion price of HK$7.8503 to US$1.00. --- Derivative Transactions --- [Transaction #1] Security: Restricted Share Units Date: 2026-09-25 | Code: M (Exercise of derivative) Shares: -10,000 | Price: $0.00 Shares Owned After: 60,000 | Ownership: D (Direct) Footnotes: [F5] Each restricted share unit represents a contingent right to receive one ADS. Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the vested ADSs in this award. [F6] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in sixteen equal quarterly installments beginning on Jul 1, 2024, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. [F6] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in sixteen equal quarterly installments beginning on Jul 1, 2024, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. [F5] Each restricted share unit represents a contingent right to receive one ADS. Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the vested ADSs in this award. [F5] Each restricted share unit represents a contingent right to receive one ADS. Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the vested ADSs in this award. [F6] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in sixteen equal quarterly installments beginning on Jul 1, 2024, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. [Transaction #2] Security: Restricted Share Units Date: 2026-09-25 | Code: M (Exercise of derivative) Shares: -9,000 | Price: $0.00 Shares Owned After: 90,000 | Ownership: D (Direct) Footnotes: [F7] Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares. [F8] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jul 1, 2025, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. [F8] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jul 1, 2025, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. [F7] Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares. [F7] Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares. [F8] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jul 1, 2025, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. [Transaction #3] Security: Restricted Share Units Date: 2026-09-25 | Code: M (Exercise of derivative) Shares: -10,000 | Price: $0.00 Shares Owned After: 140,000 | Ownership: D (Direct) Footnotes: [F7] Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares. [F9] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jun 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. [F9] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jun 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. [F7] Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares. [F7] Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares. [F9] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jun 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. [Transaction #4] Security: Restricted Share Units Date: 2026-09-25 | Code: M (Exercise of derivative) Shares: -200,000 | Price: $0.00 Shares Owned After: 800,000 | Ownership: D (Direct) Footnotes: [F7] Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares. [F10] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in five equal annual installments beginning on Sep 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. [F10] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in five equal annual installments beginning on Sep 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. [F7] Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares. [F7] Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares. [F10] Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in five equal annual installments beginning on Sep 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. --- Holdings --- [Holding #1] Security: Ordinary Shares Ownership: I (Indirect) --- Footnotes (Complete Index) --- F1: Reflects restricted share units that vested and settled into American Depositary Shares ("ADSs"). Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the ADSs acquired in connection with such vesting. F10: Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in five equal annual installments beginning on Sep 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. F2: Reflects restricted share units that vested and settled into ordinary shares. F3: Pursuant to the issuer's equity plan, these shares of ordinary shares were withheld and sold in the open market in Hong Kong on behalf of the reporting person to satisfy tax withholding obligations related to the reporting person's vesting of restricted shares units reported herein. F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices denominated in Hong Kong dollars ranging from 105.60 to 108.40 inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The sales prices reported herein were converted from Hong Kong dollars to United States dollars at a conversion price of HK$7.8503 to US$1.00. F5: Each restricted share unit represents a contingent right to receive one ADS. Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the vested ADSs in this award. F6: Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in sixteen equal quarterly installments beginning on Jul 1, 2024, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. F7: Each restricted share unit represents a contingent right to receive one ordinary share. This amount represents the number of vested ordinary shares. F8: Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jul 1, 2025, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. F9: Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in sixteen equal quarterly installments beginning on Jun 25, 2026, subject to the terms and conditions of the underlying award agreement. The vesting reported herein was as of Sep 25, 2026. --- Signature --- /s/ /s/ Kevin Jinwei Zhang, as Attorney-in-Fact for Toby Hong Xu (2026-09-29)