PENG ALEX ZHUANGZHUANG 4

What Happened

• Alex Peng (President and Chief Financial Officer) had restricted stock units (RSUs) convert to 37,950 American Depositary Shares (ADSs) on April 26, 2026 (two conversions: 30,360 and 7,590 ADSs, recorded at $0.00). On April 27, 2026 he disposed of 15,659 ADSs to cover exercise/tax liability at $10.80 per ADS ($169,180) and sold 80,000 ADSs in open-market trades at a weighted average of $10.86 per ADS ($868,480). Total proceeds reported from the disposals are about $1,037,660 (~$1.04M).
• The transactions reflect RSU settlement and subsequent withholding/sales (i.e., a cashless-like settlement where some shares are used to satisfy taxes and others were sold).

Key Details

• Transaction dates: April 26–27, 2026; Form 4 filed April 28, 2026 (filed timely).
• Prices and amounts:
  • RSUs converted: 30,360 ADSs and 7,590 ADSs acquired at $0.00 (total 37,950 ADSs).
  • Tax/withholding: 15,659 ADSs disposed at $10.80 ($169,180).
  • Open-market sale: 80,000 ADSs disposed at weighted avg $10.86 ($868,480). Reported sale prices ranged $10.705–$10.995; weighted average shown.
  • Combined proceeds from disposals: ~$1,037,660.
• Shares owned after the transactions: not disclosed in the filing.
• Relevant footnotes:
  • F1: Three ADSs = one Class A common share (ADS ratio).
  • F3–F5: These were RSUs that vest in four equal annual installments beginning April 26, 2026 (some are performance-based subject to conditions).
  • F2: Open-market sales executed across multiple trades; weighted average reported.
• Codes: M = conversion/exercise of derivative (RSU settlement); F = payment of exercise price/tax withholding; S = open-market sale.

Context

• These transactions are routine for RSU settlements: RSUs converted to ADSs, some shares withheld/used to pay taxes, and additional shares sold in the market to monetize holdings.
• Conversion at $0.00 indicates settlement of RSUs rather than a cash purchase. The filing does not indicate a 10b5-1 plan or other trading plan.