Youdao (DAO) President Jin Lei Sells 70,047 Shares

What Happened

• Jin Lei, President of Youdao, sold 70,047 American Depositary Shares (ADSs) on September 9, 2026. The ADSs were the result of RSUs that vested and settled into ADSs prior to the sale.
• The weighted average sale price was $14.9665 per ADS, for proceeds of approximately $1,048,358.

Key Details

• Transaction date: 2026-09-09; Form 4 filed: 2026-09-11 (filed within the normal two-business-day window).
• Transaction type: Sale (reported as “S”); shares were from vested RSUs (Footnote F1).
• Price: $14.9665 weighted average (Footnote F2); total proceeds ≈ $1,048,358.
• Shares owned after transaction: 25,566 ADSs held directly (Footnote F3).
• Future scheduled vesting: 85,184 shares on 2027-09-01 and 32,848 shares on 2028-09-01 (Footnote F3).
• No indication in the filing of a 10b5-1 plan, gift, or other special transfer instructions.

Context

• This transaction appears to be a sale of shares that resulted from RSUs vesting and being settled into ADSs; such settlements followed by sales are common for tax withholding or liquidity but the filing provides only the facts, not motives.
• For retail investors, purchases by insiders are generally stronger signals than routine sales; this filing documents a routine disposition after vesting rather than an open-market purchase.