He Eric 4

What Happened

• Eric He, a director of Agora, Inc. (API), reported the conversion/exercise of 1,592 derivative awards on 2026-06-01 that resulted in the acquisition of 1,592 American Depositary Shares (ADSs). A simultaneous, offsetting disposition of 1,592 ADSs was also reported at $0.00. No cash proceeds are shown in the filing.
• Each ADS represents four Class A ordinary shares, so the ADSs represent 6,368 underlying Class A shares. The filing lists the transactions as code "M" (exercise/conversion of derivative).

Key Details

• Transaction date: 2026-06-01; Form 4 filed: 2026-06-02 (appears timely).
• Acquired: 1,592 ADSs (conversion/vesting) — acquisition price N/A (reported as acquisition by vesting).
• Disposed: 1,592 ADSs at $0.00 (reported as a derivative disposition).
• Shares owned after the transaction: not disclosed in the provided filing.
• Footnotes: F1/F2 indicate ADSs were acquired through vesting of RSUs; F3 clarifies each RSU converts to one ADS; 1 ADS = 4 Class A ordinary shares.
• The filing does not state a 10b5-1 plan, tax withholding method, or other reasons for the $0 disposition.

Context

• This appears to be RSU vesting/conversion into ADSs with a matching reported disposition. A $0.00 disposition in these cases is commonly associated with net-settlement or tax-related surrender of shares, but the filing does not specify the reason — so treat that as an observation, not a conclusion.
• Purchases or conversions (acquisitions) are often more informative than sales, but here the net economic effect is unclear from the filing since acquired and disposed amounts are equal and no cash changed hands per the report.