[Form 4] Alset Inc. Insider Trading Activity

Rhea-AI Filing Summary

Chan Heng Fai Ambrose, who serves as a Director, Chief Executive Officer and a 10% owner of Alset Inc. (AEI), reported the sale of 500,000 shares of the issuer's common stock on 09/12/2025. The weighted average sale price was $2.672 per share, with individual trades executing between $2.25 and $3.59. Following the reported transaction, the filing shows 31,322,903 shares held directly by Mr. Chan and an additional 3,875,506 shares indirectly owned through HFE Holdings Limited, for a total beneficial ownership of 35,198,409 shares. The Form 4 is signed and dated 09/16/2025.

Positive

• Full Section 16 disclosure provided, including weighted average price and trade price range
• Substantial retained ownership: total beneficial ownership of 35,198,409 shares remains after the sale
• Indirect holdings disclosed via HFE Holdings Limited with sole voting and investment power specified

Negative

• Insider disposition of 500,000 shares on 09/12/2025, which reduces direct holdings
• Sale executed across multiple trades at prices as low as $2.25, potentially indicating liquidity-driven selling

Insights

Financial Analyst

TL;DR Insider sale of 500,000 shares disclosed; large residual ownership remains, suggesting continued alignment with shareholders.

Mr. Chan executed a single-day disposition of 500,000 common shares at a weighted average price of $2.672, with trades ranging $2.25 to $3.59. The sale represents a modest portion of his total beneficial position of 35,198,409 shares (approximately 1.4%). From a capital-markets perspective, the transaction is a routine insider disposition that reduces his direct holdings but leaves substantial ownership intact. The filing complies with Section 16 reporting requirements by disclosing both the aggregate post-transaction holdings and the nature of indirect ownership via HFE Holdings Limited.

Corporate Governance Expert

TL;DR Form 4 accurately reports an insider sale and clarifies indirect holdings; governance transparency appears adequate.

The Form 4 identifies Mr. Chan as Director, CEO and a 10% owner and provides required transaction detail including execution prices and range. It also discloses indirect ownership through HFE Holdings Limited and affirms sole voting and investment power over those shares. This level of disclosure supports transparency for shareholders and regulators. No additional governance actions or changes are reported in this filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Chan Heng Fai Ambrose

(Last) (First) (Middle)

9 TEMASEK BOULEVARD #16-4

SUNTEC TOWER TWO

(Street)

SINGAPORE U0 038989

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Alset Inc. [ AEI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/12/2025		S		500,000	D	$2.672(1)	31,322,903(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On September 12, 2025, Mr. Chan sold 500,000 shares of the Issuer's common stock at a weighted average sale price of $2.672 per share. This transaction was executed in multiple trades at prices ranging from $2.25 to $3.59. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

2. In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 3,875,506 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 35,198,409 shares of the common stock of Alset Inc.

	/s/ Chan Heng Fai Ambrose	09/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did AEI insider Chan Heng Fai Ambrose report on Form 4?

The filing reports that Mr. Chan sold 500,000 shares of Alset Inc. common stock on 09/12/2025 and discloses his resulting beneficial ownership.

At what price were the AEI shares sold by the insider?

The weighted average sale price was $2.672 per share, with executed trade prices ranging from $2.25 to $3.59.

How many AEI shares does Chan Heng Fai Ambrose beneficially own after the transaction?

The Form 4 shows 31,322,903 shares held directly and 3,875,506 shares indirectly via HFE Holdings Limited, totaling 35,198,409 shares.

What is the reporting person's relationship to AEI?

Mr. Chan is reported as a Director, Chief Executive Officer, and a 10% owner of Alset Inc.

When was the Form 4 signed and filed?

The signature block shows Mr. Chan signed the Form 4 on 09/16/2025.