Cai Jeffery Rong 4

What Happened
Jeffery Rong Cai, a former independent director of Zhibao Technology Inc., was issued 12,500 Class A ordinary shares on June 30, 2026 as a vested equity award under the company's 2026 Equity Incentive Plan. The Form 4 reports the shares as acquired at $0.00 per share (award/vesting), so no cash purchase price is shown.

Key Details

• Transaction date: June 30, 2026 (issuance/vesting); Form 4 filed July 7, 2026.
• Reported price: $0.00 per share (award/vesting), total reported cash = $0.
• Grant background: Board approved aggregate grant of 20,000 RSUs to Mr. Cai on Feb 16, 2026; 12,500 shares issued per the vesting schedule.
• Shares owned after transaction: not specified in the filing.
• Timeliness: Filing was submitted 7 days after the vesting date (later than the typical 2-business-day Form 4 window).
• Other note: Mr. Cai resigned as an independent director effective July 1, 2026 and is no longer subject to Section 16 reporting.

Context
This was an equity award vesting (restricted stock units issued), not an open-market buy or sale. Such awards reflect compensation or previously approved grants rather than an independent buy/sell decision by the insider; they should be treated as administrative/compensation-related rather than a direct bullish or bearish signal.