Baez Armando Luis 4

What Happened Armando Luis Baez, a former independent director of Zhibao Technology Inc. (ZBAO), received an equity award of 20,000 Class A ordinary shares that vested and were issued on June 30, 2026. The shares were issued as part of a Restricted Stock Unit (RSU) award under the Company's 2026 Equity Incentive Plan and were recorded at $0.00 cash consideration on the Form 4 (total cash paid = $0).

Key Details

• Transaction date: 2026-06-30 (issuance/award; transaction code A).
• Filing date: Form 4 filed 2026-07-07 (filed 7 days after the issuance; appears later than the typical 2-business-day Section 16 filing window).
• Price: $0.00 per share; 20,000 shares issued (total cash consideration $0).
• Grant approved by the board on 2026-02-16; shares issued per the RSU vesting schedule on 06-30.
• Shares owned after transaction: not specified in the filing.
• Insider status: Mr. Baez resigned as an independent director effective July 1, 2026 and is noted as no longer subject to Section 16 reporting per the footnote.

Context

• This was an equity award vesting/issuance (not an open-market purchase or sale), so it reflects compensation/vesting rather than an immediate market vote by the insider.
• Because the filing was submitted several days after the issuance, retail investors may note the timing relative to the usual 2-business-day reporting requirement.
• No sale or option exercise occurred; the entry simply records issuance of vested RSUs to Mr. Baez.