CTW Cayman CTO exercises 800 options, sells 669 shares

CTW Cayman Chief Technology Officer Tong Hairihan reported a combined option exercise and related share sale.

Rhea-AI Filing Summary

CTW Cayman Chief Technology Officer Tong Hairihan reported a combined option exercise and related share sale. Tong exercised 800 stock options for Class A ordinary shares at $1.75 per share, acquiring the same number of shares.

In a broker-assisted cashless exercise, 669 Class A ordinary shares were sold at an average price of $2.21 per share solely to cover the exercise price, according to the footnote. Following these transactions, Tong holds 131 Class A ordinary shares directly and 116,221 stock options remain outstanding after the exercise.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider Tong Hairihan

Role Chief Technology Officer

Sold 669 shs ($1K)

Approx. gross sale proceeds $1K

Approx. exercise cost $1K

Type	Security	Shares	Price	Value
Exercise	Stock Options	800	$0.00	$0.00
Exercise	Class A ordinary shares	800	$1.75	$1K
Sale	Class A ordinary shares	669	$2.21	$1K

Holdings After Transaction: Stock Options — 116,221 contracts (Direct); Class A ordinary shares — 131 shares (Direct)

Footnotes (2)

1. F1. Represents Class A ordinary shares sold on the open market through a broker-assisted cashless exercise solely to cover the exercise price resulting from the exercise of 800 options.
2. F2. The stock options became exercisable on December 17, 2025.

Key Figures

Shares sold: 669 shares Sale price: $2.21 per share Options exercised: 800 options +3 more

6 metrics

Shares sold 669 shares Class A ordinary shares sold to cover option exercise price

Sale price $2.21 per share Average price for 669 Class A ordinary shares sold

Options exercised 800 options Stock options exercised into Class A ordinary shares

Exercise price $1.75 per share Exercise price of 800 stock options

Shares held after 131 shares Direct Class A ordinary share holdings following transactions

Options remaining 116,221 options Stock options outstanding after exercising 800 options

Key Terms

cashless exercise, stock options, Class A ordinary shares, open market

4 terms

cashless exercise financial

"sold on the open market through a broker-assisted cashless exercise solely to cover"

A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.

stock options financial

"Represents Class A ordinary shares sold ... resulting from the exercise of 800 options."

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

Class A ordinary shares financial

"Represents Class A ordinary shares sold on the open market"

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.

open market financial

"sold on the open market through a broker-assisted cashless exercise"

An open market is a system where buying and selling of goods, services, or financial assets happen freely without restrictions or special controls. For investors, it means they can trade assets easily and quickly, which helps determine fair prices based on supply and demand. This environment encourages transparency and competition, making it easier to buy or sell with confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did CTW Cayman (CTW) report for Tong Hairihan?

Tong Hairihan exercised 800 stock options and sold 669 shares. The options converted into Class A ordinary shares at $1.75, while 669 shares were sold at $2.21 in a broker-assisted cashless exercise to fund the option exercise cost.

Was the CTW Cayman (CTW) share sale by Tong Hairihan an open-market disposal?

The sale was tied to a cashless option exercise, not a discretionary sale. Footnotes state 669 Class A ordinary shares were sold through a broker-assisted transaction solely to cover the exercise price from exercising 800 stock options.

How many CTW Cayman (CTW) shares does Tong Hairihan hold after these transactions?

After the transactions, Tong directly owns 131 Class A ordinary shares. In addition, Form 4 data shows 116,221 stock options remain outstanding following the 800-option exercise, indicating a continuing, substantial derivative position in CTW Cayman equity.

What were the exercise and sale prices in Tong Hairihan’s CTW Cayman (CTW) Form 4?

The stock options were exercised at $1.75 per share. The related broker-assisted sale to fund the exercise sold 669 Class A ordinary shares at an average price of $2.21 per share, as disclosed in the transaction details and footnotes.

How does the CTW Cayman (CTW) Form 4 classify Tong Hairihan’s transactions?

The filing records both a derivative exercise and a sale. One transaction is coded “M” for exercising 800 stock options, while another is coded “S” for selling 669 Class A ordinary shares, described as a broker-assisted cashless exercise covering the option exercise price.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/29/2026 - 04:20 PM EDT Learn about SEC filing dates

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^*

Tong Hairihan

(Last) (First) (Middle)

29F, 1 CHOME-9-10, ARK HILLS SENGOKUYAMA

MORI TOWER, ROPPONGI, MINATO CITY

(Street)

TOKYO 106-0032

(City) (State) (Zip)

JAPAN

(Country)

2. Issuer Name and Ticker or Trading Symbol
CTW Cayman [ CTW ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/27/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class A ordinary shares	05/27/2026		M		800	A	$1.75	800	D
Class A ordinary shares	05/27/2026		S		669(1)	D	$2.21	131	D

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
Stock Options	$1.75	05/27/2026		M			800	(2)	12/17/2035	Class A ordinary share	800	$0	116,221	D

Explanation of Responses:

1. Represents Class A ordinary shares sold on the open market through a broker-assisted cashless exercise solely to cover the exercise price resulting from the exercise of 800 options.

2. The stock options became exercisable on December 17, 2025.

	/s/ Hairihan Tong	05/29/2026
	** 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)