Hsieh Ming 4/A

What Happened

• Ming Hsieh, CEO of Fulgent Genetics, reported the cancellation of a prepaid variable forward that previously covered 750,000 shares. The Hsieh Trust paid $10,708,875 to the counterparty (an unaffiliated bank) to cancel the agreement on March 9, 2026. This was a derivative-contract termination, not an open-market sale or purchase of common stock; the 750,000 shares are no longer pledged under that contract.

Key Details

• Transaction date: March 9, 2026 (reported on a Form 4 originally filed March 11, 2026; amended March 31, 2026 to add The Ming Hsieh Trust as a reporting person).
• Transaction type/code: Derivative contract cancellation (reported as "other acquisition or disposition" — code J); no per-share sale price for stock (N/A).
• Cash paid to terminate contract: $10,708,875 (aggregate).
• Shares affected: 750,000 shares that had been subject to the 2023 prepaid variable forward are no longer pledged.
• Shares owned after transaction: The Form 4 does not state a new total share count for Mr. Hsieh or the trusts; it only notes the 750,000 shares are no longer subject to the forward.
• Footnotes: Holdings are through related trusts/accounts (The Ming Hsieh Trust, Dynasty Trust, UTMA accounts). Mr. Hsieh is trustee/grantor or custodian for those vehicles as described in the filing.
• Amendment: This Form 4/A only adds The Ming Hsieh Trust as an additional reporting person; no other changes or additional transactions were reported.

Context

• A prepaid variable forward is a derivative arrangement where shares are effectively pledged to a bank in exchange for upfront or contingent cash; canceling it requires settlement with the bank and releases the shares from the prior pledge. This filing reflects termination of that derivative obligation rather than a market sale or purchase of Fulgent stock.