AVPT insider sale of 650K shares tied to Singapore Exchange secondary listing

Rhea-AI Filing Summary

AvePoint director John Chi On Ho reported the sale of 650,000 shares of common stock on 09/18/2025 at $15.21 per share. The filing shows the shares were sold to provide initial liquidity for the company's secondary listing on the Singapore Exchange; no shares were sold on Nasdaq in connection with this transaction. After the sale, the reporting person is shown as beneficially owning 3,732,679 shares indirectly through Balmoral Blue Limited, subject to a disclaimer of full beneficial ownership.

The sale was executed under Rule 144 and the company's insider trading policies. The report is limited to this non-derivative equity transaction and explains the reporting person’s indirect ownership via Balmoral Blue Limited.

Positive

• Transaction disclosed clearly with explanation that sale supported the SGX secondary listing and complied with Rule 144
• No shares sold on Nasdaq, clarifying the market where liquidity was provided
• Indirect ownership disclosed (3,732,679 shares held by Balmoral Blue Limited) with disclaimer about extent of beneficial ownership

Negative

• Director disposed of 650,000 shares, which reduces the reporting person's direct economic stake
• Filing does not state the percentage of total outstanding shares, so market impact and materiality cannot be assessed from this form alone

Insights

Securities Analyst

TL;DR: Director sold shares to support SGX listing liquidity; transaction is disclosed and follows Rule 144.

The transaction is a straightforward, disclosed sale of 650,000 common shares at $15.21 to enable trading liquidity for AvePoint's secondary listing on the Singapore Exchange. The use of Rule 144 suggests the shares were restricted or subject to resale conditions previously, and the explicit statement that no Nasdaq sales occurred clarifies the market of execution. Post-transaction indirect ownership of 3,732,679 shares via Balmoral Blue Limited remains material for ownership tracking but is accompanied by a disclaimer limiting assertion of full beneficial ownership.

Corporate Governance Expert

TL;DR: Disclosure is compliant and explains indirect ownership; the sale may modestly reduce insider stake but was for listing liquidity.

The filing appropriately discloses the director's relationship to Balmoral Blue Limited and includes the standard disclaimer about pecuniary interest. Describing the sale as tied to SGX listing liquidity provides governance context and mitigates potential concerns about opportunistic insider selling. The document does not indicate any change in board role or additional transactions, limiting governance impact to a single, explained sale.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ho John Chi On

(Last) (First) (Middle)

C/O JANCHOR PARTNERS LIMITED

1608 ONE EXCHANGE SQUARE

(Street)

CENTRAL, HONG KONG K3

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AvePoint, Inc. [ AVPT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

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	09/18/2025		S		650,000(1)	D	$15.21	3,732,679	I	Held by Balmoral Blue Limited(2)

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. The reported sale of shares was made pursuant to the Company's secondary listing on the Singapore Exchange Securities Trading Limited ("SGX") on September 18, 2025. The sale was executed to facilitate initial liquidity in connection with the SGX listing. The reporting person undertook the transaction in accordance with Rule 144 and applicable insider trading policies. No shares were sold on NASDAQ in connection with this transaction.

2. The Reporting Person is a shareholder and director of Balmoral Blue Limited. Mr. Ho may be deemed to beneficially own these shares. The Reporting Person disclaims beneficial ownership of the shares held by Balmoral Blue Limited except to the extent of his pecuniary interest therein and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the report shares for the purposes of Section 16 or for any other purpose.

	/s/ Brian Michael Brown, Attorney-in-Fact	09/22/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did AvePoint director John Chi On Ho report on Form 4 (AVPT)?

He reported the sale of 650,000 common shares at $15.21 per share on 09/18/2025 to provide liquidity for AvePoint's SGX secondary listing.

Were any shares sold on Nasdaq in this transaction for AVPT?

No. The filing explicitly states that no shares were sold on Nasdaq in connection with this transaction.

How many shares does the reporting person beneficially own after the sale?

3,732,679 shares are reported as beneficially owned indirectly through Balmoral Blue Limited, with a disclaimer about full beneficial ownership.

Under what rules was the sale executed according to the Form 4?

The sale was executed in accordance with Rule 144 and the issuer's insider trading policies.

Why were the shares sold according to the filing?

The sale was executed to facilitate initial liquidity in connection with AvePoint's secondary listing on the Singapore Exchange.