Wu Lei 4

What Happened

• Wu Lei, CEO of GigaCloud Technology Inc. (GCT), sold 60,000 Class A shares in open-market transactions on March 19–20, 2026 for total proceeds of about $2.45 million. Individual sales: 16,763 @ $40.98, 10,756 @ $41.69, 2,481 @ $42.54, 25,648 @ $40.06, and 4,352 @ $41.29.
• Those sales were executed pursuant to a 10b5-1 trading plan (the plan adopted Sept 24, 2025 has completed and ended). Separately, Mr. Wu re-titled shares: 60,000 Class A shares and 125,000 Class B shares were moved from indirect holdings (via Ji Xiang Hu Tong Holdings Limited) to his direct ownership (these were transfers, not market purchases or sales).

Key Details

• Dates and prices: March 19–20, 2026; sale prices ranged roughly $40.06–$42.54; total proceeds ≈ $2.45M.
• Transfer details: 60,000 Class A shares and 125,000 Class B shares were transferred from indirect to direct ownership (total 185,000 shares re-titled). The 125,000 Class B shares are noted as convertible into Class A shares at no cost.
• Transaction codes: "S" = sale (open market); "J" = other acquisition/disposition (internal transfer). The 125,000 Class B entries are reported as derivative-related transfers.
• 10b5-1: Sales were pre-planned under a 10b5-1 plan; the plan is now complete.
• Filing timeliness: Form 4 filed March 20, 2026 (no late-filing flag present).

Context

• These sales appear routine given they were executed under a 10b5-1 plan; such pre-arranged plans are commonly used to avoid trading based on material nonpublic information.
• The transfers moved shares from indirect to direct holdings and did not change Mr. Wu’s overall economic exposure (Class B shares are convertible to Class A). Transfers and internal re-titling don’t necessarily signal a change in insider sentiment.
• No option exercises, new purchases, or awards were reported in this filing.