Canaan (NASDAQ: CAN) CEO adds 500,000 ADS in June open-market buys

Q: At what prices did the Canaan (CAN) CEO buy American Depositary Shares?

The CEO purchased 250,000 American Depositary Shares at $0.34 per ADS on June 17, 2026 and another 250,000 ADS at $0.33 per ADS on June 18, 2026. These were reported as open-market purchases in the insider filing.

Q: What is the conversion ratio for Canaan (CAN) American Depositary Shares?

Each Canaan American Depositary Share is convertible into 15 Class A ordinary shares . The filing states conversion can occur at any time at the holder’s election, and it also notes that the American Depositary Shares have no expiration date attached to them.

Filing Impact

(High)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Canaan Inc. Chief Executive Officer Zhang Nangeng reported open-market purchases of American Depositary Shares (ADS). He bought 250,000 ADS on June 17, 2026 at $0.34 per ADS and another 250,000 ADS on June 18, 2026 at $0.33 per ADS, for a total of 500,000 ADS. Following these transactions, he directly holds 3,301,635 ADS. Each ADS is convertible at any time into 15 Class A ordinary shares, and the ADS have no expiration date.

Insider Trade Summary

Net Buyer: 500,000 shares ($167,500)

Net Buy 2 txns

Insider Zhang Nangeng

Role Chief Executive Officer

Bought 500,000 shs ($168K)

Type	Security	Shares	Price	Value
Purchase	American Depositary Shares	250,000	$0.33	$83K
Purchase	American Depositary Shares	250,000	$0.34	$85K

Holdings After Transaction: American Depositary Shares — 3,301,635 shares (Direct, null)

Footnotes (1)

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Key Figures

ADS purchased 17 Jun 2026: 250,000 ADS at $0.34 ADS purchased 18 Jun 2026: 250,000 ADS at $0.33 Total ADS bought: 500,000 ADS +2 more

5 metrics

ADS purchased 17 Jun 2026 250,000 ADS at $0.34 Open-market purchase on June 17, 2026

ADS purchased 18 Jun 2026 250,000 ADS at $0.33 Open-market purchase on June 18, 2026

Total ADS bought 500,000 ADS Sum of June 17–18, 2026 purchases

Post-transaction holdings 3,301,635 ADS Directly held after June 18, 2026 trade

ADS conversion ratio 1 ADS = 15 Class A shares Convertible at any time; no expiration date

Key Terms

American Depositary Shares, open-market purchase, Class A ordinary shares, conversion

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""

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.

conversion financial

"Each American Depositary Share is convertible at any time, at the holder's election"

Conversion is the exchange of one type of financial instrument for another, most commonly turning convertible bonds or preferred shares into common stock. It matters to investors because conversion changes the number of outstanding shares and ownership stakes—like trading a coupon for a slice of a company—potentially reducing each existing owner's portion, affecting per-share earnings, voting power and the market value of the stock.

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Form 4 Insider Transactions: What Each Field Means →

06/22/2026 - 04:30 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)
06/17/2026

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⁾	06/17/2026		P		250,000		⁽¹⁾	⁽¹⁾	Class A ordinary shares	3,750,000	$0.34	3,051,635	D
American Depositary Shares	⁽¹⁾	06/18/2026		P		250,000		⁽¹⁾	⁽¹⁾	Class A ordinary shares	3,750,000	$0.33	3,301,635	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	06/22/2026
	** 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 transactions did Canaan Inc. (CAN) report for its CEO?

Canaan Inc. CEO Zhang Nangeng reported buying 500,000 American Depositary Shares in two open-market transactions. He purchased 250,000 ADS on June 17, 2026 and 250,000 ADS on June 18, 2026 at prices around thirty-three to thirty-four cents per ADS.

At what prices did the Canaan (CAN) CEO buy American Depositary Shares?

The CEO purchased 250,000 American Depositary Shares at $0.34 per ADS on June 17, 2026 and another 250,000 ADS at $0.33 per ADS on June 18, 2026. These were reported as open-market purchases in the insider filing.

How many Canaan Inc. (CAN) ADS does the CEO hold after these trades?

After the reported open-market purchases, Canaan Inc. CEO Zhang Nangeng directly holds 3,301,635 American Depositary Shares. This figure comes from the Form 4 filing’s post-transaction ownership field, which reflects his position immediately following the June 18, 2026 transaction.

What is the conversion ratio for Canaan (CAN) American Depositary Shares?

Each Canaan American Depositary Share is convertible into 15 Class A ordinary shares. The filing states conversion can occur at any time at the holder’s election, and it also notes that the American Depositary Shares have no expiration date attached to them.

Were Canaan Inc. (CAN) CEO’s recent ADS purchases open-market transactions?

Yes. Both reported transactions are coded as open-market purchases. The Form 4 describes them as purchases in the open market or private transactions, with transaction code “P” and a transaction_action field specifying open-market purchase for each 250,000 ADS trade.

Do Canaan (CAN) American Depositary Shares have an expiration date?

According to the insider filing footnote, Canaan’s American Depositary Shares have no expiration date. They are convertible at any time, at the holder’s election, into 15 Class A ordinary shares, providing ongoing flexibility for holders rather than a time-limited instrument.