Qi Dave 4

What Happened

• Director Qi Dave exercised/converted derivatives (transaction code M) on April 15, 2026: 3,126 Class A ordinary shares were converted/disposed at $0.00 and 1,563 American Depositary Shares (ADS) were acquired at $0.00. The transactions reflect a non-cash conversion tied to vested restricted share units (RSUs), with no proceeds reported.

Key Details

• Transaction date: April 15, 2026; Form filed April 16, 2026 (timely).
• Prices and values: all items reported at $0.00; no cash received.
• Counts: 3,126 Class A ordinary shares disposed; 1,563 ADS acquired.
• Post-transaction holdings: not specified in the filing.
• Footnotes: F1 — each ADS represents two Class A ordinary shares; F2 — each RSU equals one Class A ordinary share; F3 — the RSUs vested on April 15, 2026.
• Transaction code: M = exercise or conversion of a derivative.

Context

• This appears to be a routine conversion following RSU vesting (3,126 vested RSUs -> converted into 1,563 ADS given the 2:1 ADS ratio). It is not an open-market purchase or sale for cash, so it should not be read as a direct bullish or bearish market signal.