Wu Xiaoguang 4

What Happened
Wu Xiaoguang, a director of 51Talk Online Education Group (COE), had 45,911 restricted stock units (RSUs) vest on July 1, 2026. The Form 4 reports a conversion/exercise of the derivative (code M) resulting in 45,911 shares acquired at $0.00 and those same 45,911 shares simultaneously reported as disposed at $0.00. Footnotes to the filing confirm these were RSUs that vested and converted into Class A ordinary shares (held in the form of ADSs per the company’s structure).

Key Details

• Transaction date: July 1, 2026; Form 4 filed July 2, 2026 (appears timely).
• Reported amounts: 45,911 shares acquired @ $0.00 and 45,911 shares disposed @ $0.00.
• Vesting info: Grant of 91,818 RSUs on July 1, 2024 vested in two installments (45,907 on April 1, 2026 and 45,911 on July 1, 2026); after this vesting no shares remain subject to that grant.
• ADS note: Class A ordinary shares are held as American depositary shares (each ADS represents sixty Class A ordinary shares).
• Shares owned after transaction: not specified in the provided filing.
• No 10b5-1 plan, tax withholding, or other disposition reason is explicitly stated in the supplied footnotes.

Context
This filing documents RSU vesting and conversion to underlying shares (a non‑purchase event)—the simultaneous zero-dollar disposition is commonly seen when shares are surrendered or transferred per plan rules (e.g., tax withholding or plan settlement), but the filing does not explicitly state the reason. RSU vesting is an award event rather than an open‑market buy or sell; it does not, by itself, indicate a change in the insider’s market sentiment.