Xie Yan 4

4 · Li Auto Inc. · Filed Jun 17, 2026

AI-generated summary of this filing

Updated Jun 17, 2026

Li Auto CTO Xie Yan Receives 5M RSUs, Exercises Options

What Happened

Xie Yan, Chief Technology Officer of Li Auto Inc. (LI), had restricted share units (RSUs) vest and settle on June 15, 2026 and executed related derivative transactions. According to the Form 4:
- 5,000,000 RSUs were granted/settled (A) at $0.00 (vested and acquired).
- 200,000 derivative units were reported as acquired on exercise/conversion (M) at $0.00.
- 200,000 derivative units were reported as disposed on exercise/conversion (M) at $0.10 generating $20,000.
- 96,588 Class A ordinary shares (in the form of ADSs) were sold (F) at $7.21 to cover income tax withholding, producing $696,399.
Net based on the reported entries: 5,200,000 shares acquired and 296,588 shares disposed (net increase of 4,903,412 shares from these transactions as reported).

Key Details

Transaction date: June 15, 2026; Form filed June 17, 2026 (timely — within the usual 2‑business‑day window).
Prices and proceeds: tax-withholding sale 96,588 ADSs @ $7.21 = $696,399; derivative disposal 200,000 @ $0.10 = $20,000.
Shares owned after transaction: Not specified in the provided excerpt of the filing.
Notable footnotes:
- F1/F3/F4: The 5,000,000 items were RSUs that vested and represent rights to receive Class A ordinary shares; they have no expiration date.
- F2: The 96,588 shares sold were Class A ordinary shares in the form of ADSs sold under a sell‑to‑cover to satisfy tax liabilities.
- F5: Some options referenced vest only upon achievement of tiered targets (see issuer disclosures).
- F6: Each ADS represents two Class A ordinary shares (important when comparing ADS vs. ordinary share counts).

Context

This was largely a vesting/settlement event (RSUs) with a routine sell‑to‑cover to pay withholding taxes. The filing shows option/derivative activity (exercises/conversions) and a small related sale; such cashless or sell‑to‑cover actions are common when RSUs vest and do not necessarily indicate a vote of confidence or lack thereof by the insider.
For retail investors: purchases or net increases in holdings can be more informative than routine tax‑withholding sales. Here, Xie’s reported activity resulted in a large net increase in share exposure due to the RSU settlement.

Form 4

Period: 2026-06-15

Chief Technology Officer

Transactions

Exercise/Conversion
Class A ordinary shares
[F1]
2026-06-15+200,000→ 506,064 total
Tax Payment
Class A ordinary shares
[F2]
2026-06-15$7.21/sh−96,588$696,399→ 409,476 total
Exercise/Conversion
Restricted Share Units
[F3][F4]
2026-06-15$0.10/sh−200,000$20,000→ 200,000 total
→ Class A ordinary shares (200,000 underlying)
Award
Share Options (right to buy)
[F5][F6]
2026-06-15+5,000,000→ 5,000,000 total
Exercise: $14.38→ American depositary shares (5,000,000 underlying)

Footnotes (6)

[F1]Acquired upon vesting and settlement of restricted share units.
[F2]Represents Class A ordinary shares (in the form of ADSs) sold pursuant to a sell-to-cover arrangement for the purpose of satisfying income tax liabilities incurred upon vesting of restricted share units.
[F3]Each restricted share unit represents the contingent right to receive one Class A ordinary share.
[F4]These restricted shares units were vested on June 15, 2026 and do not have an expiration date.
[F5]The options will vest upon the first achievement of certain tiered targets. See Exhibit 99.1 to the issuer's current report on Form 6-K dated June 16, 2026 for further details.
[F6]Each American depositary share represents two Class A ordinary shares.

Signature

/s/ Xie Yan|2026-06-17

1 file