111, Inc. (YI) Director Chen Yang Luke Sells Shares

What Happened

• Chen Yang Luke, a director of 111, Inc. (YI), reported multiple transactions: he sold a total of 180,880 Class A ordinary shares in open-market/private sales across May–September 2026 for aggregate proceeds of approximately $37,623. Individual sales ranged from $0.18 to $0.27 per share.
• The filing also reports three RSU grants/awards totaling 594,222 RSUs: 126,295 RSUs (grant date 2023-09-08), 54,759 RSUs (grant date 2026-05-11), and 413,168 RSUs (grant date 2026-05-12). Those awards have differing vesting provisions described in the footnotes.

Key Details

• Sales (open market/private):
  • 2026-05-26: 1,440 shares @ $0.27 — $389 (F4: sale to satisfy tax withholding)
  • 2026-05-27: 3,400 shares @ $0.25 — $850 (F5: sale to satisfy tax withholding)
  • 2026-06-12: 49,920 shares @ $0.23 — $11,482
  • 2026-06-15: 44,000 shares @ $0.23 — $10,120
  • 2026-09-23: 44,000 shares @ $0.18 — $7,920
  • 2026-09-28: 38,120 shares @ $0.18 — $6,862
• Grants/Awards (acquisitions / RSUs):
  • 2023-09-08: 126,295 RSUs (no cash value reported) (F1)
  • 2026-05-11: 54,759 RSUs vesting in full on grant date (F2)
  • 2026-05-12: 413,168 RSUs with a 4-year 25% annual vesting schedule (vesting commencement 5/12/2026) (F3)
• Footnotes of note: F4 and F5 confirm the 1,440- and 3,400-share sales were to satisfy tax withholding on vested RSUs. F1–F3 describe the RSU mechanics and vesting.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Filing timeliness: Report filed 2026-09-29 for transactions through 2026-09-28 (appears timely under Form 4 rules).

Context

• Sales include small, routine disposals and explicit tax-withholding sales tied to RSU vesting; such transactions are commonly done to cover tax obligations rather than signal a change in conviction.
• The RSU grants increase potential future share ownership (subject to the vesting terms in F2/F3); F3's large grant vests over four years, which is a standard retention structure.
• No indication in the excerpt of a 10b5-1 plan or other special trading plan.