Youdao (DAO) director receives 11,450 RSUs in ADS form as equity grant

Rhea-AI Filing Summary

Youdao, Inc. director Shum Heung Yeung received a grant of 11,450 Restricted Share Units in the form of American Depositary Shares. The award was granted on May 29, 2026 as a time-based equity incentive with no expiration date and no exercise price.

All 11,450 RSUs are scheduled to vest on June 1, 2027, subject to the terms and conditions of the underlying award agreement. After this grant, Shum Heung Yeung directly holds 26,002 shares reported in this filing, reflecting a compensation-related increase rather than an open-market purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Shum Heung Yeung

Role null

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Unit	11,450	$0.00	--

Holdings After Transaction: Restricted Share Unit — 26,002 shares (Direct, null)

Footnotes (1)

1. In the form of American Depositary Shares. This time-based RSU award was granted on May 29, 2026, with no expiration date, subject to the terms and conditions of the underlying award agreement. All the shares scheduled to be vested on June 1, 2027, with no exercise price.

Key Figures

RSUs granted: 11,450 units Holdings after grant: 26,002 shares Vesting date: June 1, 2027 +1 more

4 metrics

RSUs granted 11,450 units Time-based RSU award granted May 29, 2026

Holdings after grant 26,002 shares Total direct holdings following reported transaction

Vesting date June 1, 2027 All granted RSUs scheduled to vest on this date

Exercise price $0.00 No exercise price for the RSU award

Key Terms

Restricted Share Unit, American Depositary Shares, time-based RSU award

3 terms

Restricted Share Unit financial

"Youdao, Inc. director Shum Heung Yeung received a grant of 11,450 Restricted Share Units in the form of American Depositary Shares."

A restricted share unit (RSU) is a promise by a company to give an employee a set number of company shares at a future date, typically after meeting time or performance conditions. For investors, RSUs matter because when they convert into actual shares they increase the number of shares outstanding (like unlocking more tickets in a game), which can dilute existing holders, and they align employee incentives with company performance, influencing behavior and long-term value.

American Depositary Shares financial

"In the form of American Depositary 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.

time-based RSU award financial

"This time-based RSU award was granted on May 29, 2026, with no expiration date, subject to the terms and conditions of the underlying award agreement."

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Form 4 Insider Transactions: What Each Field Means →

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^*

Shum Heung Yeung

(Last) (First) (Middle)

16D WOODBURY COURT

DISCOVERY BAY

(Street)

HONGKONG HONG KONG HK

(City) (State) (Zip)

HONG KONG

(Country)

2. Issuer Name and Ticker or Trading Symbol
Youdao, Inc. [ DAO ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/29/2026

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
Restricted Share Unit(1)	05/29/2026		A		11,450(2)	A	(2)	26,002	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

Explanation of Responses:

1. In the form of American Depositary Shares.

2. This time-based RSU award was granted on May 29, 2026, with no expiration date, subject to the terms and conditions of the underlying award agreement. All the shares scheduled to be vested on June 1, 2027, with no exercise price.

	/s/ Liting Ren, as Attorney-in-Fact for Harry Heung Yeung Shum	06/01/2026
	** 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)

FAQ

What insider transaction did Youdao (DAO) report for Shum Heung Yeung?

Youdao reported that director Shum Heung Yeung received 11,450 Restricted Share Units as a grant. The RSUs are in the form of American Depositary Shares and represent a compensation-related equity award rather than an open-market stock purchase or sale.

When do the granted RSUs for Youdao (DAO) director Shum Heung Yeung vest?

All 11,450 Restricted Share Units granted to director Shum Heung Yeung are scheduled to vest on June 1, 2027. The vesting is time-based and remains subject to the terms and conditions of the underlying award agreement governing this RSU grant.

What is the exercise price and expiration for Shum Heung Yeung’s Youdao (DAO) RSU grant?

The RSU grant to Shum Heung Yeung has no exercise price and no expiration date. It is structured as a time-based Restricted Share Unit award that converts into shares upon vesting, assuming all conditions in the award agreement are satisfied.

How many Youdao (DAO) shares does Shum Heung Yeung hold after this RSU grant?

Following the RSU grant, Shum Heung Yeung is reported as directly holding 26,002 shares. This figure reflects his position after receiving the 11,450 Restricted Share Units, as disclosed in the Form 4 insider transaction report.

Are Shum Heung Yeung’s Youdao (DAO) RSUs structured as American Depositary Shares?

Yes. The filing notes that the Restricted Share Units are in the form of American Depositary Shares. This means each vested RSU will convert into ADSs, consistent with the company’s depositary share structure referenced in the footnotes.