Cheng Haijin 4

What Happened
Cheng Haijin, a director of Tuniu Corp (TOUR), reported derivative transactions on April 9, 2026. The Form 4 shows an exercise/conversion (code M) that resulted in acquiring 416 shares at $0.00 and disposing 1,248 shares at $0.00. Both transactions are reported with zero cash value, indicating conversions or exercises without cash consideration rather than standard open-market purchases or sales. Net, this filing shows a disposition of 832 shares (1,248 disposed minus 416 acquired).

Key Details

• Transaction date: 2026-04-09 (reported on Form 4 filed 2026-04-13).
• Reported prices: $0.00 for both acquired (416) and disposed (1,248) shares.
• Net change: -832 shares.
• Shares owned after transaction: Not stated in the provided excerpt of the filing.
• Footnotes:
  • F1: Each American Depositary Share (ADS) = 3 Class A ordinary shares.
  • F2: Each Restricted Share represents a contingent right to receive one Class A ordinary share upon settlement.
• Timeliness: Filing dated April 13 for an April 9 transaction — Form 4s are normally due within two business days, so this appears later than the typical 2-day deadline.

Context

• Transaction code M means an exercise or conversion of a derivative security. A $0.00 price typically means the insider converted or settled derivatives/restricted rights rather than paying cash or receiving cash proceeds through a market sale.
• These kinds of derivative conversions can be administrative/settlement actions and do not necessarily signal buying or selling sentiment in the open market.
• No 10b5-1 plan, tax-withholding, or immediate sale details are reported in the provided excerpt, so we cannot tell whether shares were immediately sold or withheld for taxes.