Bernardez Stephen 4

What Happened
Stephen Bernardez, who was an independent director of Zhibao Technology Inc., received an equity award issuance: 12,500 Class A ordinary shares were issued to him on June 30, 2026 pursuant to a previously approved RSU grant. The shares were issued at $0.00 per share (an award/vesting event), so no cash purchase occurred. According to the filing footnote, the board approved a total grant of 20,000 RSUs to Mr. Bernardez on February 16, 2026; 12,500 vested and were issued on June 30. Mr. Bernardez resigned as an independent director effective July 1, 2026 and is no longer subject to Section 16 reporting after that date.

Key Details

• Transaction date: June 30, 2026 — Type: Award/issuance (code A); Price reported: $0.00; Shares issued: 12,500.
• Original grant: 20,000 RSUs approved Feb 16, 2026; 12,500 vested/issued on June 30 (7,500 remain subject to vesting per RSU agreement).
• Shares owned after transaction: not specified in the provided summary of the filing.
• Filing date: July 7, 2026 — this is more than two business days after the June 30 transaction and therefore appears to be outside the usual two‑business‑day Section 16 reporting window.
• Note: Mr. Bernardez resigned effective July 1, 2026 and, per the footnote, is no longer subject to Section 16 reporting.

Context
This was an RSU vesting/issuance (award), not an open‑market purchase or sale. Issuances at $0 reflect compensation/equity grants rather than a cash investment and do not necessarily signal the insider buying or selling stock. For retail investors, purchases are often more informative about insider conviction than routine vesting or grant issuances; this filing documents a vesting event and the director’s subsequent resignation.