Yin Dengfeng 4

What Happened

• Yin Dengfeng, Chief Operating Officer of Chagee Holdings Ltd. (CHA), exercised employee stock options on 2026-06-24 to acquire 80,427 ADSs by paying $3.76 per ADS, a total cash outlay of $302,518. A companion derivative entry shows the 80,427 ordinary shares were converted into 80,427 ADSs following the exercise (no sale was reported).

Key Details

• Transaction date: 2026-06-24; filing date: 2026-06-25 (filed promptly).
• Exercise: 80,427 ADSs acquired at $3.76 each; total paid $302,518 (transaction code M = option exercise).
• Conversion entry: 80,427 shares converted to 80,427 ADSs (recorded as a $0 disposal of the derivative per footnote).
• Shares owned after transaction (direct): 267,226 ADSs previously held + 80,427 ADSs acquired = 347,653 ADSs directly held by Mr. Yin (footnote F1).
• Indirect/related holdings: TeaTide Limited holds 4,000,000 ADSs and 7,522,236 Class A ordinary shares; TeaTide is controlled through corporate and trust structures described in footnotes F1–F2.
• Other option details (footnote F4): there is an option covering 160,854 Class A Ordinary Shares with 80,427 shares vesting on 3/1/2027 and 80,427 on 3/1/2028 (indicates remaining scheduled vesting for related option awards).

Context

• This was an option exercise (acquisition), not a sale — exercises increase the insider's direct stake but do not by themselves indicate short-term market action unless followed by an immediate sale. The filing shows the exercised ordinary shares were converted into ADSs rather than sold, and the report appears timely (filed one day after the transaction).