Wu Lei 4
4 · GigaCloud Technology Inc · Filed Apr 7, 2026
Research Summary
AI-generated summary of this filing
GigaCloud (GCT) CEO Lei Wu Gifts 110,000 Shares
What Happened
Lei Wu, CEO of GigaCloud Technology Inc. (GCT), reported a charitable gift of 110,000 Class B ordinary shares on April 6, 2026. The shares were disposed of as a gift (transaction code G) and the reporting form shows $0 in proceeds to Mr. Wu. The Class B shares are convertible into an equal number of Class A shares at no cost to the holder.
Key Details
- Transaction date: 2026-04-06; Form 4 filed: 2026-04-07 (filed within the standard reporting window).
- Transaction type/code: Gift (G).
- Shares transferred: 110,000 Class B ordinary shares.
- Price / Proceeds: $0.00 per share; total proceeds reported $0 (charitable donation).
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Notable footnotes:
- F1: Donation to a non-related, registered 501(c)(3); no value received.
- F3: Class B shares are convertible into Class A shares one-for-one at no cost.
- F4–F5: Mr. Wu may be an indirect beneficial owner of shares held by related entities (Ji Xiang Hu Tong Holdings Limited and Talent Boom Group Limited).
- F2: Standard disclaimer about beneficial ownership not being admitted for Section 16 purposes.
Context
Gifts are not purchases or sales and generally do not signal the insider’s view of the company’s near-term prospects; they often reflect charitable or estate-planning decisions. This filing reports a charitable transfer with no cash received by the reporting person. The conversion feature of the Class B shares means the donated shares could otherwise be converted to Class A on a one-for-one basis by the holder.
Insider Transaction Report
- Gift
Class A Ordinary Shares, par value $0.05 per share
[F1][F2]2026-04-06−110,000→ 70,000 total
- 7,151,732(indirect: By LLC)
Class B Ordinary Shares, par value $0.05 per share
[F3][F2][F4][F5]→ Class A Ordinary Shares, par value $0.05 per share (7,151,732 underlying)
Footnotes (5)
- [F1]This transaction represents a charitable donation by the reporting person to a non-related, registered 501(c)(3) non-profit organization. No value was received by the reporting person for the gifted shares.
- [F2]This report shall not be deemed an admission that any of the reporting persons is the beneficial owner of such securities for purposes of Section 16 of Securities Exchange Act of 1934, as amended, or for any other purpose.
- [F3]The Class B Ordinary Shares are convertible at any time at the option of the holder into an equal number of Class A Ordinary Shares at no cost.
- [F4]Lei Wu ("Mr. Wu") is the sole member and sole manager of a limited liability company, Shan Lao Hu Tong LLC, that is the sole shareholder of Ji Xiang Hu Tong Holdings Limited. Mr. Wu also controls TALENT BOOM GROUP LIMITED. As a result of these relationships, Mr. Wu may be deemed to be an indirect beneficial owner of the securities held by Ji Xiang Hu Tong Holdings Limited and TALENT BOOM GROUP LIMITED.
- [F5]Represents Class B ordinary shares, par value of US$0.05 per share, of the Issuer ("Class B Ordinary Shares") directly held by Ji Xiang Hu Tong Holdings Limited.