Gao Tian 4

What Happened

• Gao Tian, Vice President, Chief of Staff and General Counsel of Pony AI (PONY), had restricted stock units (RSUs) vest and convert into 56,188 Class A ordinary shares on March 25, 2026. The Form 4 reports the conversion/exercise of four derivative awards (transaction code M) totaling 56,188 shares (16,000; 813; 7,500; 31,875). The reported price is $0.00 for the disposals, reflecting RSU settlement into shares rather than a cash purchase or sale.

Key Details

• Transaction date: 2026-03-25; Form 4 filed 2026-03-27 (appears timely within the usual 2-business-day filing window).
• Transaction type/code: M = exercise or conversion of a derivative (RSU vesting and settlement).
• Shares converted/issued: 56,188 total (16,000; 813; 7,500; 31,875).
• Price / cash flow: Reported as $0.00 on the derivative disposals — no cash paid or received in the filing.
• Shares owned following transaction: Not specified in the provided extract of the filing.
• Footnotes: Filing notes these were RSUs that vested and settled into Class A ordinary shares (see footnotes). Multiple RSU grants with different grant dates and vesting schedules are referenced (grants from 2021, 2023, and 2024 with standard anniversary and quarterly vesting schedules). One footnote indicates the grant has no expiration date.

Context

• These entries reflect RSU vesting/settlement (compensation converting to stock), not an open-market purchase or sale. The $0.00 disposal amounts are typical when a derivative (RSU) is converted into underlying shares rather than sold for cash.
• No immediate sale of the shares is reported in this filing; this looks like routine compensation vesting rather than a market-timing trade.