Metalpha (MATH) CEO Wang Bingzhong Receives 259,750 Shares

What Happened

• Wang Bingzhong, CEO of Metalpha Technology Holding Ltd (MATH), had restricted stock units (RSUs) convert into ordinary shares on July 1, 2026. He was issued 259,750 shares (price $0.00, value $0) upon the first annual vesting tranche of his RSU grant. Separately, 125,000 shares were issued upon the first tranche of RSUs granted to his spouse (price $0.00, value $0).
• These entries are reported as derivative conversions (transaction code M) because RSUs converted into shares; no cash was paid in connection with the vesting.

Key Details

• Transaction date: July 1, 2026; Form 4 filed September 29, 2026 (filed late vs. the typical 2-business-day rule).
• Price per share: $0.00 for both issuances; reported aggregate cash value = $0.
• Shares owned after the transaction: Not specified in the supplied filing.
• Footnotes:
  • F1: 259,750 shares represent the first of four equal annual installments (total grant 1,039,000 RSUs) granted June 30, 2025 to Wang; remaining 779,250 RSUs vest in equal annual tranches on July 1 of 2027–2029, subject to continued service.
  • F3: 125,000 shares represent the first of four equal annual installments (total grant 500,000 RSUs) granted June 30, 2025 to the Reporting Person’s spouse; remaining 375,000 RSUs vest in 2027–2029, subject to continued service.
  • F2: The 259,750 shares are held of record by MetaSphere Limited (an entity wholly owned by the Reporting Person’s spouse); Wang disclaims beneficial ownership except to the extent of his pecuniary interest.
• Filing timeliness: The Form 4 was filed late (reporting delay from July 1 to Sept 29), which reduces near-term transparency and may attract regulatory scrutiny or penalties.

Context

• These transactions are vesting of previously granted RSUs (awards), not open-market purchases or sales. Vesting is typically a compensation event and does not by itself indicate buying or selling sentiment.
• For retail investors, vested awards are routine for executives; purchases (cash outlays) tend to be more informative as potential bullish signals.