Zhibao (ZBAO) CMO Luo Xiao Receives 250,000-Share Award

What Happened
Luo Xiao, Chief Marketing Officer of Zhibao Technology Inc. (ZBAO), was issued a grant of 250,000 Class A ordinary shares on July 30, 2026 under the company's 2026 Share Incentive Plan. The Form 4 reports these shares as an award (transaction code A) with an acquisition price of $0.00 (total reported value $0).

Key Details

• Transaction date: July 30, 2026; Filing date: August 3, 2026 (filed within required reporting window).
• Transaction type/code: Award/Grant (A). Price reported: $0.00 per share.
• Shares granted: 250,000 Class A ordinary shares (par value $0.0001 per share).
• Shares owned after transaction: 250,000 shares held directly by Luo Xiao; beneficial ownership reported as 406,108 shares in total (156,108 Class A shares held by Tianze Zihan Holdings Limited, a company wholly owned by Luo Xiao, plus the 250,000 granted shares).
• Footnotes: Grant made pursuant to the Company’s 2026 Share Incentive Plan (F1). F2 explains the 156,108 shares held by Tianze and Luo Xiao’s sole ownership/control of Tianze.

Context
This was an equity grant (compensation award), not an open-market purchase or sale. Awards are common for executive compensation and do not by themselves signal buying or selling intent in the market. No cash was paid for the shares per the filing.