Yuanbao (YB) CFO Wan Hui Rui Receives RSUs, Exercises Options

What Happened

Wan Hui Rui, Chief Financial Officer of Yuanbao Inc. (YB), reported a mix of awards and derivative activity on 2026-09-16. The Form 4 shows two grants: 30,000 option-type awards (vesting over four years) and 60,000 restricted share units (RSUs) with a multi-date vesting schedule beginning 9/16/2026. The filing also reports exercise/conversion activity of derivative instruments (18,000 disposed; 3,000 acquired) and the withholding/disposition of 440 American Depositary Shares (ADSs) to satisfy tax obligations, valued at approximately $5,474 (based on the $12.44 closing price on 9/16/2026). Most entries report $0 per-unit exercise/acquisition price because they are non-cash awards or exercises of previously granted derivatives.

Key Details

• Transaction date: 2026-09-16; Form filed 2026-09-18 (filed within the typical two-business-day Form 4 window).
• Grants reported: 30,000 (options; see F1) and 60,000 (RSUs; see F2) — both recorded as acquisitions at $0.00 (derivative awards).
• Exercise/conversion (code M): 18,000 derivative units reported as disposed and 3,000 derivative units reported as acquired (all at $0.00).
• Tax withholding (code F): 440 ADSs withheld/disposed to satisfy taxes at an estimated $12.44 per ADS, total ~$5,474 (will be revised if actual withheld differs; see F4).
• Shares owned after transaction: not specified in the Form 4 (not reported).
• Footnotes of note:
  • F1: Options vest in four equal annual installments on each Sept 16 from 2027–2030; each option exercisable for one Class A share.
  • F2: RSUs vest in eight installments starting 9/16/2026 (30% at first vesting); each RSU converts to one share (in this case into ADSs on vesting).
  • F3: ADSs acquired on vesting; each ADS convertible into six Class A ordinary shares.
  • F4: ADSs withheld to cover taxes; number is estimated based on the $12.44 closing price and may be amended.

Context

• These were primarily non-cash equity awards and derivative actions (grants and exercises). RSU vesting converted to ADSs (per footnotes); some ADSs were withheld to cover tax withholding — a routine administrative disposition (code F) rather than an open-market sale by the insider.
• The cash amount reported in the filing is small (~$5.5K) and reflects tax withholding, not a market sale. For retail investors, grants and vesting indicate compensation dilution but do not necessarily signal personal bullish/bearish views.