Qiu Hengcong 4

What Happened

• Qiu Hengcong, CEO of UTime Ltd (WTO), was awarded 200,000 restricted stock units (RSUs) on April 29, 2026. The grant is reported as an acquisition (code A) at $0.00 per unit, totaling $0 in cash paid.
• Per the filing footnote, each RSU represents the right to receive one Class A ordinary share, and the RSUs vest immediately following the grant date, meaning the award effectively converted to ownership rights at grant.

Key Details

• Transaction date: April 29, 2026; Filing date: May 28, 2026 (filing appears about one month after the transaction).
• Transaction type/code: Award/Grant (A); 200,000 RSUs; reported price $0.00.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote: RSUs vest immediately and each unit entitles the holder to one Class A ordinary share.
• No 10b5-1 plan, tax-withholding, or sale information is reported in the provided data.

Context

• This is a grant of equity compensation rather than an open-market purchase or sale. Awards like RSUs are a common part of executive pay and do not by themselves signal a buy or sell decision by the insider.
• The grant was recorded at $0.00 (no cash paid); the economic value depends on UTime’s market price for Class A shares at conversion. The late filing (transaction on 4/29, filed 5/28) is notable because Form 4s are normally due within two business days of the transaction.