Lu Celine 4

What Happened

• Lu Celine, Senior Vice President and a director of BitFuFu Inc. (FUFU), had 120,000 restricted share units (RSUs) vest on July 1, 2026 and converted those RSUs into 120,000 Class A ordinary shares. The Form 4 reports the transaction under code M (exercise/conversion of a derivative) with an acquisition and a corresponding conversion/disposition both at $0.00 — i.e., no cash was paid or received in the reported entries.
• This was a settlement of compensation RSUs (one RSU = one share), not an open‑market purchase or sale.

Key Details

• Transaction date: July 1, 2026; reported on Form 4 filed July 1, 2026 (Accession 0001213900-26-074208).
• Reported price: $0.00 per share in the filing (reflects RSU settlement, not a market trade).
• Shares acquired: 120,000 Class A ordinary shares upon vesting.
• Shares disposed (reported as conversion of the derivative): 120,000 (this reflects conversion/settlement of RSUs, not a sale for cash).
• Shares owned after transaction: Not specified in the filing.
• Footnotes: The 120,000 shares are the first tranche vesting out of 480,000 RSUs previously awarded. RSUs vest annually in four equal installments starting July 1, 2026 and are contingent on continued service; each RSU represents the right to receive one Class A share.
• Filing timeliness: Form 4 was filed the same day, appearing timely. No tax withholding or sale was indicated in the disclosed entries.

Context

• This is a routine compensation vesting/settlement (RSU conversion) rather than an insider purchase or sale. Receiving vested RSUs signals equity compensation being delivered, which is common for executives and directors; it does not by itself indicate a bullish or bearish trade decision.
• Transaction code M here denotes conversion/settlement of a derivative (RSU) into underlying shares. There is no indication the shares were immediately sold in the market.