Cui Jin 4

What Happened

• Director Cui Jin converted/exercised 8,000 derivative awards (RSUs) into 8,000 ADSs on May 7, 2026 (transaction code M). The exercise/conversion carried a $0.00 exercise price. To cover tax withholding (code F), 760 ADSs were withheld/disposed at ~$2.91 each, totaling $2,212. The filing shows the original derivative award was canceled on conversion (a paired "derivative disposed" entry for 8,000 units). Net new ADSs received = 8,000 − 760 = 7,240 ADSs.

Key Details

• Transaction date: May 7, 2026; Form 4 filed May 8, 2026 (appears timely).
• Converted/exercised: 8,000 shares (code M) at $0.00.
• Tax withholding: 760 shares (code F) at $2.91 each = $2,212.
• Paired entry: 8,000 derivative units disposed (reflects cancellation of the RSU instrument).
• Footnotes: F1 — 3 ADSs represent 2 Class A ordinary shares; F2 — these RSUs vested on May 1, 2026 and have no expiration date.
• Shares owned after the transaction are not specified in the provided filing.

Context

• This was a routine RSU vesting/conversion with tax withholding, not an open-market purchase or sale. The M code indicates conversion/exercise of a derivative (RSU) and F indicates shares withheld to satisfy tax obligations. Such settlements are common and do not, by themselves, indicate the insider is buying or selling shares for investment reasons.