Chen Yang Luke 4

What Happened Chen Yang Luke, a director of 111, Inc. (YI), reported multiple transactions: he was granted RSU awards totaling 594,222 shares (126,295; 54,759; and 413,168 RSUs) and sold 98,760 Class A ordinary shares in open-market/private sales for total proceeds of about $22,841. Sales ranged from $0.23 to $0.27 per share; some small lots (1,440 and 3,400 shares) were sold specifically to satisfy tax withholding on vested RSUs.

Key Details

• Grants (acquisitions at $0.00):
  • 2023-09-08: 126,295 RSUs (F1) — footnote indicates these RSUs have fully vested as of this Form 4.
  • 2026-05-11: 54,759 RSUs (F2) — vest in full on the grant date.
  • 2026-05-12: 413,168 RSUs (F3) — grant vests 25% on each anniversary starting 5/12/2027 (standard four-year schedule with pro rata on termination provisions).
• Sales (dispositions):
  • 2026-05-26: 1,440 shares @ $0.27 = $389 (F4 — tax withholding sale).
  • 2026-05-27: 3,400 shares @ $0.25 = $850 (F5 — tax withholding sale).
  • 2026-06-12: 49,920 shares @ $0.23 = $11,482.
  • 2026-06-15: 44,000 shares @ $0.23 = $10,120.
  • Total shares sold: 98,760; total proceeds: ~$22,841.
• Shares owned after the transactions: Not specified in the Form 4 filed.
• Filing: Form 4 filed on 2026-06-16 reporting transactions through mid‑June 2026; the filing does not include a late-filing flag.

Context

• RSUs: Restricted stock units are a grant right to receive shares in the future. Some grants here vested immediately (or have already vested), while the 413,168‑RSU grant follows a multi-year vesting schedule — this grant is not an immediate cash purchase and generally does not, by itself, indicate a near-term sale.
• Tax withholding sales: The small May sales (1,440 and 3,400 shares) were explicitly to cover taxes on vested RSUs (common, routine).
• Sales vs. purchases: The reported open‑market sales are dispositions (not purchases) and appear largely routine given the tax-withholding transactions and recent large RSU grants.