Lai Jimmy Y. 4

What Happened
Director Lai Jimmy Y. received 18,750 Class A ordinary shares on May 24, 2026 following the vesting/conversion of restricted share units (RSUs). The filing shows an acquisition of 18,750 shares at $0.00 (vested RSUs) and a corresponding derivative conversion/disposition of 18,750 at $0.00 — no cash was paid or received in these entries. Per the filing, the shares are held in the form of American depositary shares (ADS); 18,750 Class A ordinary shares equal 3,750 ADS (1 ADS = 5 Class A ordinary shares).

Key Details

• Transaction date: May 24, 2026; Form 4 filed May 26, 2026 (appears timely — within the Form 4 two-business-day window).
• Reported transactions: Code M (exercise or conversion of derivative) — 18,750 shares acquired @ $0.00 and 18,750 shares disposed @ $0.00.
• Source of shares: RSUs vested on May 24, 2026; each RSU represents one Class A ordinary share; RSUs have no expiration.
• ADS note: Class A ordinary shares are held as ADS; 5 Class A shares = 1 ADS (thus 18,750 ordinary shares = 3,750 ADS).
• Shares owned after transaction: Not specified in the provided data.
• No sale or open-market purchase reported — this was vesting/conversion of awards, not a market trade.

Context
This was an award/vesting event (RSU conversion), not a purchase or sale in the open market. Such entries reflect compensation vesting or settlement of equity awards and do not by themselves indicate buying or selling sentiment. The filing appears timely and includes standard footnotes clarifying RSU terms and ADS conversion.