Wang Anquan holds 96.8M Class A shares, Webull (NASDAQ: BULL)

Rhea-AI Filing Summary

Webull Corp: Wang Anquan reports beneficial ownership of 96,796,752 Class A ordinary shares, representing 18.2% of the Class A shares referenced in the filing. The reported total includes direct holdings, shares held by related entities, 83,859,005 Class A shares issuable upon conversion of Class B shares, 754,616 Class A shares issuable upon settlement of RSUs, and 9,691,467 shares over which voting control is held via a proxy agreement.

Key Figures

Beneficial ownership: 96,796,752 shares Percent of class: 18.2% Convertible Class B shares: 83,859,005 shares +3 more

6 metrics

Beneficial ownership 96,796,752 shares Total Class A ordinary shares reported beneficially owned

Percent of class 18.2% Percent of Class A based on 447,959,660 outstanding shares

Convertible Class B shares 83,859,005 shares Class A shares issuable upon conversion of Class B shares beneficially owned

RSUs scheduled to vest 754,616 shares Class A shares issuable upon settlement of vested restricted share units within 60 days of March 31, 2026

Proxy-controlled shares 9,691,467 shares Class A shares subject to voting control under a proxy agreement dated August 15, 2025

Outstanding Class A base 447,959,660 shares Outstanding Class A ordinary shares per prospectus dated April 27, 2026

Key Terms

Schedule 13G/A, Proxy Agreement, restricted share units, issuable upon conversion

4 terms

Schedule 13G/A regulatory

"Amendment No. 3) Webull Corp Class A ordinary shares"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Proxy Agreement legal

"9,691,467 Class A ordinary shares subject to the Proxy Agreement"

restricted share units financial

"754,616 restricted share units that have vested and are scheduled to vest"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

issuable upon conversion financial

"83,859,005 Class A ordinary shares issuable upon conversion"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Webull Corp

(Name of Issuer)

Class A ordinary shares

(Title of Class of Securities)

G9572D103

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G9572D103

1

Names of Reporting Persons

Wang Anquan

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CHINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 96,796,752.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 87,105,285.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

96,796,752.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

18.2 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: The reported amount includes (i) 200,000 Class A ordinary shares, (ii) 2,291,664 Class A ordinary shares held of record by Webull Partners Limited, (iii) 83,859,005 Class A ordinary shares issuable upon conversion of an equivalent number of Class B ordinary shares, (iv) 754,616 Class A ordinary shares issuable upon conversion of an equivalent number of Class B ordinary shares, which are issuable upon the settlement of 754,616 restricted share units that have vested and are scheduled to vest within 60 days of March 31, 2026, and (v) 9,691,467 Class A ordinary shares subject to the Proxy Agreement (as defined in Item 4 of this Schedule 13G). The percent of class is based on 447,959,660 outstanding Class A ordinary shares, as reported in the issuer's prospectus dated April 27, 2026, filed as part of Post-Effective Amendment No.2 on Form F-3 to Form F-1 filed with the SEC on April 16, 2026, as increased by (i) 83,859,005 Class A ordinary shares issuable upon conversion of 83,859,005 Class B ordinary shares beneficially owned by the Reporting Person and (ii) 754,616 Class A ordinary shares issuable upon conversion of an equivalent number of Class B ordinary shares, which are issuable upon the settlement of 754,616 restricted share units that have vested and are scheduled to vest within 60 days of March 31, 2026.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Webull Corp
(b)	Address of issuer's principal executive offices: 200 CARILLON PARKWAY, ST. PETERSBURG, FLORIDA, 33716.
Item 2.
(a)	Name of person filing: Wang Anquan
(b)	Address or principal business office or, if none, residence: Building 4, Fund Town, 188 Binjiang Road, Yuelu District, Changsha, Hunan, People's Republic of China
(c)	Citizenship: People's Republic of China
(d)	Title of class of securities: Class A ordinary shares
(e)	CUSIP No.: G9572D103
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by this item with respect to the Reporting Person is set forth in Rows 5 through 9 and 11 of the cover page to this Schedule 13G. The reported securities are directly held and beneficially owned as follows: (i) 200,000 Class A ordinary shares are held of record by Water Castle Az Inc., whose voting power is fully retained by Pozijie Inc., which is wholly-owned by the Reporting Person; (ii) 2,291,664 Class A ordinary shares are held of record by Webull Partners Limited, which is managed by a trust (the "Trust") for the benefit of certain employees, directors and officers of the issuer. The Reporting Person is the sole member of the advisory committee of the Trust; (iii) 83,859,005 Class B ordinary shares are held of record by Water Castle Az Inc.; (iv) 754,616 Class A ordinary shares issuable upon conversion of an equivalent number of Class B ordinary shares, which are issuable upon the settlement of 754,616 restricted share units granted to Water Castle Az Inc. that have vested and are scheduled to vest within 60 days of March 31, 2026; and (v) The Reporting Person has voting control of 9,691,467 Class A ordinary shares subject to a proxy agreement, dated August 15, 2025, by and between the Reporting Person and certain shareholders of the issuer (the "Proxy Agreement"), which agreement provides the Reporting Person with voting rights for a portion of the covered shares in an amount for which the acquisition of voting rights (and beneficial ownership) would not exceed the two percent limitation set forth in Section 13(d)(6)(B) of the Exchange Act of 1934, as amended during any twelve-month period (calculated together with any other acquisitions of Class A ordinary shares by the Reporting Person during such period). The filing of this Statement shall not be deemed an admission by the Reporting Person of beneficial ownership of any of the reported securities for purposes of Section 13(d) or Section 13(g) or for any other purpose.
(b)	Percent of class: 18.2%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Row 5 of the Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.
	(ii) Shared power to vote or to direct the vote: Row 6 of the Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.
	(iii) Sole power to dispose or to direct the disposition of: Row 7 of the Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.
	(iv) Shared power to dispose or to direct the disposition of: Row 8 of the Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Wang Anquan

Signature:	/s/ Wang Anquan
Name/Title:	Wang Anquan
Date:	04/28/2026

FAQ

What stake does Wang Anquan report in Webull (BULL)?

He reports beneficial ownership of 96,796,752 Class A ordinary shares, equal to 18.2% of the Class A shares referenced in the filing. The figure aggregates direct holdings, convertible Class B shares, RSUs, and shares under a proxy agreement.

How many Class A shares are issuable upon conversion by Wang Anquan?

The filing shows 83,859,005 Class A ordinary shares issuable upon conversion of Class B ordinary shares beneficially owned by the reporting person. These conversion shares are included in the reported beneficial-ownership total.

What restricted-share units (RSUs) are included in the reported holdings?

The report includes 754,616 Class A shares issuable upon conversion tied to restricted share units that have vested and are scheduled to vest within 60 days of March 31, 2026. These RSUs are counted toward the beneficial-ownership total.

Does Wang Anquan have voting control over other shares?

Yes. The filing discloses voting control over 9,691,467 Class A ordinary shares under a proxy agreement dated August 15, 2025. The agreement grants voting rights for a portion of those covered shares.

On what basis is the 18.2% calculation made?

The 18.2% percent is calculated using 447,959,660 outstanding Class A ordinary shares as stated in the issuer's prospectus dated April 27, 2026, adjusted to include certain Class B conversions and vested RSUs referenced in the filing.