Ho Kok Kyu 4

What Happened
Ho Kok Kyu, Chief of Staff of DDC Enterprise Ltd (DDC), exercised 300,000 warrants on April 28, 2026 at an exercise price of $0.16 per share. He elected a cashless exercise: 300,000 warrants were used to calculate the exercise, and a net 280,000 Class A Ordinary Shares were issued to him. The aggregate exercise price on the 300,000 warrants was $48,000; the net 280,000 shares correspond to $44,800 at $0.16 per share (20,000 warrants/shares were effectively surrendered to cover the exercise cost).

Key Details

• Transaction date: April 28, 2026; Form 4 filed April 30, 2026 (timely filing).
• Exercise price: $0.16 per share; aggregate exercise amount on 300,000 warrants = $48,000.
• Shares issued to insider: net 280,000 Class A Ordinary Shares (cashless exercise).
• Reporting in the Form 4 shows an “Acquired” entry for 280,000 shares and a “Disposed (Derivative)” entry reflecting the 300,000 warrants surrendered.
• Shares owned after transaction: not disclosed in the provided excerpt.
• Footnotes: F1 explains the cashless exercise producing the net 280,000 shares; F2 defines RSUs included in the filing materials but not part of this April 28 transaction.

Context
This was an exercise of derivative securities (warrants) rather than an open‑market purchase or sale. In a cashless exercise the holder does not pay cash; instead a portion of the warrants/shares are surrendered to cover the exercise cost, so the insider received a net issuance of shares (280,000) while 20,000 equivalent shares/warrants were used to satisfy the exercise price. This is a routine equity-vesting/option transaction and not a direct cash purchase or open-market sale.