Jimmy Lai (DAO) discloses initial Youdao share, option and RSU holdings

Rhea-AI Filing Summary

Youdao, Inc. director Jimmy Y. Lai filed an initial ownership report showing existing equity interests, largely in the form of American Depositary Shares. He reports 50,221 Class A Ordinary Shares held directly, plus a time-based RSU award of 14,552 units granted on May 30, 2025 that is scheduled to vest on June 1, 2026 with no exercise price.

Lai also holds vested stock options over 3,997 Class A Ordinary Shares from a January 25, 2021 grant expiring January 26, 2027 and 13,201 Class A Ordinary Shares from a January 18, 2022 grant expiring January 18, 2028, each with a stated exercise price of $4.5 per share. The filing records holdings only and does not show any new purchases or sales.

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^*

Lai Jimmy Y.

(Last) (First) (Middle)

BUILDING NO. 7, WEST ZONE, NO. 10 YARD

XIBEIWANG EAST ROAD, HAIDIAN DISTRICT

(Street)

BEIJING 100193

(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
Youdao, Inc. [ DAO ]

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)
Class A Ordinary Shares(1)	50,221	D
Restricted Share Unit(2)	14,552	D

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
Option(3)	(3)	(3)	Class A Ordinary Shares	3,997	(3)	D
Option(4)	(4)	(4)	Class A Ordinary Shares	13,201	(4)	D

Explanation of Responses:

1. In the form of American Depositary Shares.

2. This time-based RSU award was granted on May 30, 2025, with no expiration date, subject to the terms and conditions of the underlying award agreement. All the shares scheduled to vest on June 1, 2026, with no exercise price.

3. This Option award was granted on January 25, 2021, expiring on January 26, 2027, with the exercise price of $4.5 per share. All the award has been vested.

4. This Option award was granted on January 18, 2022, expiring on January 18, 2028, with the exercise price of $4.5 per share. All the award has been vested.

Remarks:

Exhibit 24.1 - Power of Attorney

	/s/ Liting Ren, as Attorney-in-Fact for Lai Jimmy Y.	03/18/2026
	** 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 does Jimmy Y. Lai’s Form 3 filing for Youdao (DAO) show?

The Form 3 shows existing holdings by director Jimmy Y. Lai in Youdao. He reports Class A Ordinary Shares, vested stock options, and an RSU award, providing a baseline of his equity position as he becomes a reporting insider.

How many Youdao (DAO) Class A Ordinary Shares does Jimmy Y. Lai hold directly?

Jimmy Y. Lai reports 50,221 Class A Ordinary Shares held directly. These shares represent his current direct ownership and are in addition to his vested options and restricted share units disclosed in the same Form 3 filing.

What stock option awards are reported for Jimmy Y. Lai in Youdao (DAO)?

Lai reports vested options over 3,997 Class A Ordinary Shares from a 2021 grant and 13,201 from a 2022 grant. Both have an exercise price of $4.5 per share and expire in 2027 and 2028, respectively.

What are the key terms of Jimmy Y. Lai’s RSU award in Youdao (DAO)?

He holds a time-based RSU award covering 14,552 units, granted on May 30, 2025. All shares are scheduled to vest on June 1, 2026, have no exercise price, and are subject to the underlying award agreement terms.

Does Jimmy Y. Lai’s Youdao (DAO) Form 3 indicate any recent insider trades?

The Form 3 reflects holdings only and shows no new purchases or sales. It functions as an initial statement of beneficial ownership, establishing Lai’s starting equity position as a director of Youdao.