Cango (CANG) director reports holding 40,000 stock options

Rhea-AI Filing Summary

Cango Inc. director Lee Chi Ming reported an initial holding of stock options covering 40,000 Class A ordinary shares, with an exercise price of $0.0001 per share. According to the disclosure, 25% of these options vest and become exercisable on October 31, 2026, and the remaining 75% vest in 36 equal monthly installments starting on November 30, 2026. Each vested installment expires three years after its respective exercisable date.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

Lee Chi Ming

(Last) (First) (Middle)

3131 MCKINNEY AVENUE

(Street)

DALLAS TEXAS 75204

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Cango Inc. [ CANG ]

3a. Foreign Trading Symbol

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

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

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

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	(1)	(2)	Class A ordinary share	40,000	$0.0001	D

Explanation of Responses:

1. 25% of the stock options shall be vested and exercisable on October 31, 2026, and the remaining 75% of the stock options shall be vested and exercisable in 36 equal monthly installments, commencing November 30, 2026, on the last day of each month.

2. The expiration date shall be three years after each installment's exercisable date.

	/s/ Chi Ming Lee	03/26/2026
	** 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 5 (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 3: SEC 1473 (03-26)

FAQ

What did Cango (CANG) director Lee Chi Ming report in this Form 3?

Lee Chi Ming reported holding stock options for 40,000 Class A ordinary shares of Cango. These options have a very low exercise price and follow a multi‑year vesting and expiration schedule detailed in the filing.

How many Cango (CANG) shares are covered by Lee Chi Ming’s options?

The options reported cover 40,000 underlying Class A ordinary shares. This means that, once vested and exercised, the options could convert into up to 40,000 Cango Class A ordinary shares, subject to the vesting and expiration terms.

What is the exercise price of Lee Chi Ming’s Cango (CANG) stock options?

The stock options have an exercise price of $0.0001 per underlying Class A ordinary share. This nominal exercise price means the main economic value is tied to the future market price of Cango’s shares when the options are exercised.

When do Lee Chi Ming’s Cango (CANG) stock options vest?

According to the filing, 25% of the stock options vest and become exercisable on October 31, 2026. The remaining 75% vest in 36 equal monthly installments, starting on November 30, 2026, with installments vesting on the last day of each month.

What is the expiration schedule for Lee Chi Ming’s Cango (CANG) options?

Each vested installment of the stock options expires three years after its exercisable date. This rolling expiration structure gives several years after vesting for each portion to be exercised before it terminates, as described in the footnotes.

Does this Cango (CANG) Form 3 show any insider buying or selling?

The Form 3 reflects an initial report of holdings rather than a buy or sell transaction. It lists stock options held by director Lee Chi Ming and their vesting and expiration terms, without indicating open‑market purchases or sales.