Yuanbao (YB) VP Yue Ying Receives Awards, Exercises Options

What Happened

• Yue Ying, Vice President of Yuanbao Inc. (YB), received derivative awards and completed related exercises/conversions on September 16, 2026.
• The filing reports two grants of 90,000 derivative awards each (reported at $0.00): one set subject to option-style vesting and one set of restricted share units (RSUs). On the same date she exercised/converted derivatives resulting in 4,500 shares acquired and 27,000 shares disposed. In addition, 822 ADSs were withheld to satisfy tax withholding obligations, valued at an estimated $12.44 per ADS for a total of about $10,226.

Key Details

• Transaction date: 2026-09-16 (reported on Form 4 filed 2026-09-18; appears timely).
• Reported entries:
  • A (Award/Grant): 90,000 shares (derivative) and another 90,000 shares (derivative) @ $0.00.
  • M (Exercise/Conversion): 27,000 shares disposed and 4,500 shares acquired (derivative conversion/exercise).
  • F (Tax withholding/payment): 822 ADSs withheld @ $12.44 each = $10,226 (estimated).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Footnotes of note:
  • F1: Options vest in four equal annual installments (Sep 16, 2027–2030); each option covers one Class A ordinary share.
  • F2: RSUs vest in eight installments (starting Sep 16, 2026 through Jun 16, 2028) and each RSU converts to one Class A ordinary share upon vesting.
  • F3: ADSs reported were acquired on vesting; each ADS is convertible into six Class A ordinary shares.
  • F4: The 822 ADSs withheld were to satisfy tax withholding, estimated using the $12.44 closing ADS price on Sep 16, 2026; the filing may be amended if the final withheld amount differs.
• Transaction codes: A = Award/Grant, M = Exercise/Conversion of derivative, F = Payment/tax withholding.

Context

• This filing shows awards and the related exercise/conversion activity plus tax-withholding (a common “sell-to-cover” or withholding action). Disposals reported (27,000) likely reflect shares sold or otherwise transferred at conversion to cover taxes/fees rather than a standalone open-market sale signal.
• For options/RSUs: vesting schedules mean these awards are subject to future time-based vesting; they do not necessarily indicate an immediate intent to trade additional shares.
• No indication in the provided data that this is a Section 16 late filing; the Form 4 was filed two days after the transaction date (Sep 18 for Sep 16 activity).