Cao Haiyun 4

What Happened

• Director Cao Haiyun received 354,285 performance-based restricted ordinary shares that vested in full on May 1, 2026. The shares were reported as an acquisition/award (code A) at $0.00 per share (no purchase price), so the reported acquisition value is $0.
• These awards were originally granted January 5, 2023 under the 2023 Equity Incentive Plan and are being reported on Form 4 for the first time in connection with their vesting.

Key Details

• Transaction date: May 1, 2026; Filing date: May 4, 2026 (reported 3 days after vesting).
• Transaction type/code: Award/Grant/Acquisition (A).
• Shares acquired: 354,285 ordinary shares @ $0.00 per share (reported value $0).
• ADS equivalence: 1 ADS = 4 ordinary shares (so these shares equal roughly 88,571 ADSs).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1—vesting of performance-based restricted shares granted 1/5/2023; F2—ADS = 4 ordinary shares; F3—references previously reported ADSs.
• No 10b5-1 plan, tax-withholding sale, or sale/loan reported in this filing excerpt.

Context

• This was a vesting of performance-based restricted shares (not an open-market purchase or sale). Vesting increases the insider's holdings but does not by itself signal a purchase decision or market sentiment.
• For retail investors: awards like this reflect compensation/long-term incentives and should be weighed alongside other insider trades and company fundamentals.