wang xueji 4
4 · Tuya Inc. · Filed Apr 28, 2026
Research Summary
AI-generated summary of this filing
Tuya CEO Wang Xueji Converts 383 Class B Shares to Class A
What Happened
Wang Xueji, Tuya Inc.'s CEO and a director, caused conversions of Class B ordinary shares into Class A ordinary shares on April 24, 2026. Specifically, 308 Class B shares were converted to Class A via Tenet Group Limited and 75 Class B shares were converted to Class A via Tuya Group Inc., for a total of 383 shares converted. These were coded as "other acquisition or disposition (J)" on the Form 4; the conversions were one-for-one and involved no cash consideration (price = $0, total value = $0). The actions were taken to reduce Mr. Wang’s proportion of weighted voting rights after the company canceled repurchased Class A shares.
Key Details
- Transaction date: April 24, 2026; Form 4 filed April 28, 2026. No late filing is indicated in the information provided.
- Transactions: 308 shares converted (Tenet Group Limited) and 75 shares converted (Tuya Group Inc.) — total 383 shares converted, one-for-one.
- Price/Value: $0 per share; total $0. These were internal conversions, not market purchases or sales.
- Reason: Done to adjust Mr. Wang’s weighted voting-rights proportion following cancellation of 5,400 repurchased Class A shares, in compliance with HKEX Rule 8A.15 (see footnotes F1 & F2).
- Ownership notes: F3 indicates some shares are held through a trust (settlor and beneficiaries include the reporting person and Tuya Group Inc.). F4 notes Tuya Group Inc. is a BVI company wholly owned by the reporting person.
- Filing timeliness: Reported on Apr 28 for an Apr 24 transaction; no late-report flag provided in this summary.
Context
These conversions are administrative adjustments to preserve the intended balance of weighted voting rights after share cancellations and do not represent a market buy or sell. Such internal reclassifications involve no cash and generally do not convey the same market-signaling intent as open-market purchases or sales by insiders.
Insider Transaction Report
- Other
Class A Common Stock
[F1][F3]2026-04-24+308→ 73,915,805 total(indirect: By Trust) - Other
Class B Common Stock
[F1][F3]2026-04-24−308→ 34,784,195 total(indirect: By Trust) - Other
Class A Common Stock
[F2][F4]2026-04-24+75→ 1,431,225 total(indirect: Held by Tuya Group Inc.) - Other
Class B Common Stock
[F2][F4]2026-04-24−75→ 8,567,775 total(indirect: Held by Tuya Group Inc.)
Footnotes (4)
- [F1]On April 24, 2026, the Company canceled 5,400 repurchased Class A ordinary shares. As this cancellation reduced the total number of shares in issue, absent any corresponding adjustment, the proportion of shares carrying weighted voting rights (WVR) would have increased. Accordingly, in compliance with Rule 8A.15 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, Mr. Wang, as a WVR beneficiary, caused Tenet Group Limited to convert 308 Class B ordinary shares into Class A ordinary shares on a one-for-one basis, so as to reduce his weighted voting rights proportionately.
- [F2]On April 24, 2026, the Company canceled 5,400 repurchased Class A ordinary shares. As this cancellation reduced the total number of shares in issue, absent any corresponding adjustment, the proportion of shares carrying weighted voting rights (WVR) would have increased. Accordingly, in compliance with Rule 8A.15 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, Mr. Wang, as a WVR beneficiary, caused Tuya Group Inc. to convert 75 Class B ordinary shares into Class A ordinary shares on a one-for-one basis, so as to reduce his weighted voting rights proportionately.
- [F3]Represent shares held through a trust of which the settlor is the reporting person and the beneficiaries are the reporting person and Tuya Group Inc.
- [F4]Represent shares held through Tuya Group Inc, a business company with limited liability incorporated under the laws of BVI wholly owned by the reporting person.