LI YANG SYLVIA 4

What Happened

• Li Yang, Chief Content Officer and director of 36Kr Holdings (KRKR), exercised stock-option derivatives and disposed of the resulting shares. On 2026-03-19 she exercised/converted 1,501 option units at $4.28 and disposed of those shares for $6,424; on 2026-03-20 she exercised/converted 100 option units at $4.43 and disposed of those shares for $443. Total disposed: 1,601 shares for roughly $6,867.
• These transactions were exercises of derivative awards (transaction code M) followed by disposal of the shares — effectively an exercise plus sale rather than an open-market purchase.

Key Details

• Transaction dates and amounts:
  • 2026-03-19: 1,501 shares @ $4.28 = $6,424 (disposed)
  • 2026-03-20: 100 shares @ $4.43 = $443 (disposed)
• Total shares disposed: 1,601; total reported proceeds ≈ $6,867.
• Shares owned after transaction: not specified in the provided filing.
• Notable codes/notes: M = exercise/conversion of derivative; "disposed" indicates the shares were sold after exercise.
• Filing/timeliness: Form 4 was filed 2026-03-30 reporting a 2026-03-19 transaction date; this appears late (insiders generally must file within two business days), which is noted in the filing.

Context

• For retail investors: an option exercise immediately followed by a sale is commonly a way for an insider to realize value from vested awards and is generally considered routine and not a direct signal of confidence or concern about the company's prospects.
• Purchases typically carry more weight as bullish signals; sales or cashless exercises are often administrative or tax-related. This report should be viewed as a record of insider liquidity rather than a definitive indicator of sentiment.