Agora (API) Director Eric He Receives 1,591 ADSs via RSU Vesting

What Happened
Eric He, a director of Agora, Inc. (API), had 1,591 American Depositary Shares (ADSs) acquired on 2026-09-01 through the vesting/conversion of Restricted Share Units (RSUs). The filing also shows a simultaneous disposition of 1,591 ADSs recorded at $0.00. Each ADS represents four Class A ordinary shares, so 1,591 ADSs equal 6,364 underlying Class A shares. No cash proceeds are reported.

Key Details

• Transaction date: 2026-09-01; Form 4 filed 2026-09-08.
• Transactions reported as code M (exercise/conversion of a derivative).
• Acquired: 1,591 ADSs via RSU vesting (Footnotes F1–F3).
• Disposed: 1,591 ADSs at $0.00 (derivative line) — filing records no sale proceeds.
• Footnotes: F1/F2 indicate ADSs were acquired through RSU vesting; F3 notes each RSU is the contingent right to one ADS.
• Underlying equivalent: 1,591 ADSs = 6,364 Class A ordinary shares (1 ADS = 4 Class A shares).
• Shares owned after the transaction: not specified in the provided summary of the filing.

Context
This appears to be a routine compensation event (RSU vesting) rather than an open-market buy or sell. The simultaneous disposition recorded at $0.00 is commonly how vesting-related withholding or net settlement to cover taxes/fees is reported — it is not a market sale. For retail investors, such vesting/withholding entries generally reflect executive compensation and do not necessarily signal a buy/sell opinion by the insider.