What does each Canaan (CAN) American Depositary Share represent?

Each American Depositary Share is convertible into 15 Class A ordinary shares of Canaan Inc. The footnote specifies that conversion can occur at any time at the holder’s election, and the ADS themselves have no expiration date, providing ongoing flexibility for holders.

Canaan (NASDAQ: CAN) CEO adds 500K ADS in back-to-back open-market buys

Filing Impact

(High)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Canaan Inc.’s Chief Executive Officer Zhang Nangeng reported notable insider buying of the company’s American Depositary Shares (ADS). He made two open-market purchases of 250,000 ADS each at $0.35 per ADS on June 15 and June 16, totaling 500,000 ADS. Following these transactions, his direct holdings increased to 2,801,635 ADS. Each ADS is convertible at any time, at the holder’s election, into 15 Class A ordinary shares of Canaan, and the ADS have no expiration date.

Insider Trade Summary

Net Buyer: 500,000 shares ($175,000)

Net Buy 2 txns

Insider Zhang Nangeng

Role Chief Executive Officer

Bought 500,000 shs ($175K)

Type	Security	Shares	Price	Value
Purchase	American Depositary Shares	250,000	$0.35	$88K
Purchase	American Depositary Shares	250,000	$0.35	$88K

Holdings After Transaction: American Depositary Shares — 2,801,635 shares (Direct, null)

Footnotes (1)

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Key Figures

Total ADS purchased: 500,000 ADS Purchase price: $0.35 per ADS Holdings after transactions: 2,801,635 ADS +1 more

4 metrics

Total ADS purchased 500,000 ADS Two open-market purchases on June 15 and June 16

Purchase price $0.35 per ADS Transaction price for both reported purchases

Holdings after transactions 2,801,635 ADS Direct ownership following June 16 transaction

ADS to ordinary share ratio 1 ADS = 15 Class A shares Convertible at any time at holder’s election

Key Terms

American Depositary Shares, open-market purchase, Class A ordinary shares, Chief Executive Officer

4 terms

American Depositary Shares financial

"Each American Depositary Share is convertible at any time, at the holder's election, into 15 Class A ordinary shares"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

open-market purchase financial

"transaction_action: "open-market purchase" for both ADS transactions"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Class A ordinary shares financial

"into 15 Class A ordinary shares of the issuer"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

Chief Executive Officer financial

"officer_title: "Chief Executive Officer" for reporting person Zhang Nangeng"

A chief executive officer (CEO) is the top leader of a company, responsible for making major decisions, setting goals, and guiding the organization’s overall direction. Think of the CEO as the captain of a ship, steering it toward success. Investors pay close attention to the CEO because their leadership and strategy can significantly influence the company's performance and future growth.

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Form 4 Insider Transactions: What Each Field Means →

06/17/2026 - 09:51 PM

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^*

Zhang Nangeng

(Last)

(First)

(Middle)

C/O CANAAN INC.

28 AYER RAJAH CRESCENT #06-08

(Street)

SINGAPORE

139959

(City)

(State)

(Zip)

SINGAPORE

(Country)

2. Issuer Name and Ticker or Trading Symbol
Canaan Inc. [ CAN ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
American Depositary Shares	⁽¹⁾	06/15/2026		P		250,000		⁽¹⁾	⁽¹⁾	Class A ordinary shares	3,750,000	$0.35	2,551,635	D
American Depositary Shares	⁽¹⁾	06/16/2026		P		250,000		⁽¹⁾	⁽¹⁾	Class A ordinary shares	3,750,000	$0.35	2,801,635	D

Explanation of Responses:

1. Each American Depositary Share is convertible at any time, at the holder's election, into 15 Class A ordinary shares of the issuer. The American Depositary Shares have no expiration date.

	/s/ Nangeng Zhang	06/17/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Canaan (CAN) report for CEO Zhang Nangeng?

Canaan reported that CEO Zhang Nangeng executed open-market purchases of American Depositary Shares. He bought 250,000 ADS on June 15 and another 250,000 ADS on June 16 at $0.35 per ADS, signaling increased personal ownership in the company.

How many Canaan (CAN) ADS did the CEO buy and at what price?

Zhang Nangeng bought a total of 500,000 American Depositary Shares at $0.35 per ADS. The purchases occurred in two equal 250,000 ADS tranches on June 15 and June 16 through open-market transactions reported in this Form 4 filing.

What are the CEO’s Canaan (CAN) holdings after these insider purchases?

After the reported purchases, Zhang Nangeng directly holds 2,801,635 American Depositary Shares of Canaan Inc. This total reflects the addition of 500,000 ADS acquired in the open market at $0.35 per ADS over two consecutive trading days.

Were Zhang Nangeng’s Canaan (CAN) transactions open-market purchases?

Yes. Both transactions are coded as “P,” indicating open-market or private purchases. The Form 4 describes them as open-market purchases of American Depositary Shares, each for 250,000 ADS at a transaction price of $0.35 per ADS on June 15 and June 16.

Did the Form 4 show any Canaan (CAN) insider sales by the CEO?

No. The Form 4 lists two transactions, both coded as purchases of American Depositary Shares. The transaction summary shows two buy transactions totaling 500,000 ADS, with no reported sales, gifts, or other dispositions in this particular filing.