Hesai (HSAI) CFO Fan Peng Exercises RSUs — 50,000 Shares Vest

What Happened

• Fan Peng, Chief Financial Officer of Hesai Group (HSAI), had 50,000 Class B ordinary shares issued on September 19, 2026 via exercise/conversion of a derivative (Form 4 code M) at $0.00 per share (i.e., no cash purchase). The same date’s filing also shows a corresponding disposition of 50,000 shares (derivative), also at $0.00. Total reported cash value of these reported line items is $0.
• Footnotes indicate these stem from restricted share units (RSUs) that vested on September 19, 2026. The filing shows additional outstanding RSUs for 800,000 Class B shares (400,000 vesting on each of Sept 19, 2027 and Sept 19, 2028).

Key Details

• Transaction date: September 19, 2026; Form 4 filed September 21, 2026 (two days later).
• Transactions reported: 50,000 shares acquired via conversion/exercise (code M) @ $0.00; 50,000 shares disposed (derivative) @ $0.00.
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnotes: F2/F3 confirm these were RSUs that vested on Sep 19, 2026; F1 notes each American depositary share = 8 Class B ordinary shares. Amounts adjusted for a 1-for-8 stock split effective July 10, 2026.
• Timeliness: Filed two days after the transaction date, which is consistent with the typical two-business-day Form 4 reporting window.

Context

• This was not an open-market purchase or sale for cash. The zero-dollar acquisition indicates issuance on vesting of an award (RSUs). The paired acquisition and disposition lines are commonly seen when vested awards are converted and some shares are transferred or withheld (for example, to satisfy tax withholding or plan mechanics); the filing’s footnotes confirm RSU vesting rather than a market trade.
• For retail investors: vesting of executive RSUs is routine compensation activity and does not necessarily signal the insider’s view of the stock.