Li Ying Dana 4

What Happened

• Li Ying Dana, COO of Yuanbao Inc. (YB), exercised stock options on June 25, 2026. The Form 4 reports derivative transactions affecting 12,000 ADSs (reported as disposed at $0.00) and 2,000 ADSs acquired upon exercise. Separately, 373 ADSs were sold to satisfy tax withholding obligations, generating $5,353 (weighted average price $14.35 per ADS).
• This is an options exercise (code M) with a routine tax-withholding sale (code F). The sale of 373 ADSs to cover taxes is a common outcome of exercising options and should not be interpreted as a directional market bet by itself.

Key Details

• Transaction date: June 25, 2026; Form 4 filed June 29, 2026 (filed within the required reporting window).
• Reported movements: 12,000 ADSs reported in connection with exercise/conversion (disposed at $0.00), 2,000 ADSs acquired on exercise, and 373 ADSs sold for tax withholding at $14.35 each (total proceeds $5,353).
• Footnotes of note:
  • F1: The options were fully vested and exercisable as of August 1, 2025.
  • F2: Each ADS is convertible into six Class A ordinary shares.
  • F3: ADSs acquired upon exercise.
  • F4: ADSs sold to satisfy tax withholding in connection with the exercise.
• Shares owned after the transaction: not specified in the filing.

Context

• For retail investors: this was an option exercise with a routine tax-withholding sale (a form of cashless tax cover). Exercises are neutral-to-mildly bullish signals when the insider retains shares, but selling shares solely to cover taxes is common and not a clear negative signal.
• The filing does not indicate a 10% owner or a 10b5-1 plan; it simply documents the exercise and associated tax withholding.