Agora (API) Director Eric He Receives 1,591 ADS Through RSU Vesting

What Happened

• Eric He, a director of Agora, Inc. (API), had 1,591 American Depositary Shares (ADSs) vest from RSUs on 2026-08-01. Each ADS represents four Class A ordinary shares, so the vested award equals 6,364 underlying Class A shares.
• The Form 4 shows the same 1,591 ADSs were immediately disposed of at $0—consistent with share withholding to satisfy tax obligations on the vested RSUs rather than an open-market sale. The filing reports an acquisition via conversion/vesting and a concurrent disposition for tax withholding, resulting in no net newly owned ADSs reported on this Form 4.

Key Details

• Transaction date: 2026-08-01; Form 4 filed 2026-08-03 (filed within typical Form 4 timing).
• Shares/vests: 1,591 ADSs acquired via RSU vesting (equals 6,364 Class A shares because 1 ADS = 4 Class A shares).
• Disposal: 1,591 ADSs disposed at $0 (indicative of tax-withholding/share-for-tax withholding).
• Footnotes: RSUs represent contingent rights to receive ADSs on vesting; each ADS = 4 Class A ordinary shares (see F1–F3 in the filing).
• Shares owned after transaction: Not specified in the provided Form 4 details.

Context

• This was an award vesting event (not an open-market purchase or a voluntary sale). Vesting and subsequent withholding to cover taxes are routine administrative transactions and do not by themselves signal a buying or selling decision by the insider.
• For derivative/RSU transactions: “M” indicates exercise/conversion of a derivative (conversion of RSU into ADS); the $0 disposition typically means shares were retained/withheld to pay taxes rather than sold on the market.