Zhao Peng Jonathan 4

What Happened

• Zhao Peng (CEO) sold a total of 128,000 shares in two open-market dispositions: 64,000 shares on 2026-03-18 at $6.98 each (proceeds $446,957) and 64,000 shares on 2026-03-19 at $6.75 each (proceeds $431,712), totaling about $878,669. These were sales (not purchases), executed under a pre-established Rule 10b5-1 trading plan.

Key Details

• Transaction dates and prices:
  • 2026-03-18: 64,000 shares @ $6.98 — $446,957 (weighted avg price range reported $6.8450–$7.2573)
  • 2026-03-19: 64,000 shares @ $6.75 — $431,712 (weighted avg price range reported $6.6075–$6.8482)
• Filing: Report filed with the SEC on 2026-03-20 covering the March trades; no late filing indicated in the provided data.
• Ownership after transaction: Not specified in the provided details (see the Form 4 for exact post-sale holdings).
• Notable footnotes:
  • Sales were effected pursuant to a Rule 10b5-1 plan adopted by Mr. Zhao on September 30, 2025.
  • Shares are held through American Depositary Shares (ADS); each ADS represents two Class A ordinary shares.
  • The shares/ADS are held via Techwolf Limited (BVI), which is owned via a trust established for Mr. Zhao and his family.
  • The filing provides weighted-average price ranges and notes that per-price breakdowns are available upon request to the SEC or issuer.

Context

• Trades under a 10b5-1 plan are pre-arranged and typically scheduled in advance; they allow insiders to sell without contemporaneous trading decisions. Such sales are generally considered routine and do not by themselves indicate management sentiment about the company. For exact post-transaction holdings and any additional details, consult the full Form 4 (Accession No. 0001104659-26-032713).