Youdao (NYSE: DAO) grants 82,120 RSUs to president Jin Lei, raising holdings

Rhea-AI Filing Summary

Youdao, Inc. reported that its president, Jin Lei, received a grant of 82,120 Restricted Share Units in the form of American Depositary Shares on May 29, 2026.

This time-based RSU award has no exercise price or expiration date and vests in three tranches: 24,636 shares on September 1, 2026, 24,636 shares on September 1, 2027, and 32,848 shares on September 1, 2028. Following this grant, Jin Lei directly holds 188,079 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Jin Lei

Role president

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Unit	82,120	$0.00	--

Holdings After Transaction: Restricted Share Unit — 188,079 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. 24,636 shares scheduled to be vested on September 1, 2026, 24,636 shares scheduled to be vested on September 1, 2027, 32,848 shares scheduled to be vested on September 1, 2028, all of which with no exercise price.

Key Figures

RSUs granted: 82,120 shares Holdings after grant: 188,079 shares First vesting tranche: 24,636 shares +3 more

6 metrics

RSUs granted 82,120 shares Restricted Share Unit award granted May 29, 2026

Holdings after grant 188,079 shares Direct holdings following RSU grant

First vesting tranche 24,636 shares Scheduled to vest on September 1, 2026

Second vesting tranche 24,636 shares Scheduled to vest on September 1, 2027

Third vesting tranche 32,848 shares Scheduled to vest on September 1, 2028

Exercise price $0.00 per share RSUs have no exercise price

Key Terms

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

4 terms

Restricted Share Unit financial

"security_title: "Restricted Share Unit""

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"

vesting financial

"shares scheduled to be vested on September 1, 2026"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

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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^*

Jin Lei

(Last) (First) (Middle)

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

XIBEIWANG EAST ROAD, HAIDIAN DISTRICT

(Street)

BEIJING CHINA 100193

(City) (State) (Zip)

CHINA

(Country)

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

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

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

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		82,120(2)	A	(2)	188,079	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. 24,636 shares scheduled to be vested on September 1, 2026, 24,636 shares scheduled to be vested on September 1, 2027, 32,848 shares scheduled to be vested on September 1, 2028, all of which with no exercise price.

	/s/ Liting Ren, as Attorney-in-Fact for Jin Lei	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 president Jin Lei?

Youdao reported that president Jin Lei received a grant of 82,120 Restricted Share Units in the form of American Depositary Shares. This is a compensation-related, time-based RSU award rather than an open-market purchase or sale of Youdao stock.

How many Youdao (DAO) shares does Jin Lei hold after this RSU grant?

After the RSU grant, Jin Lei directly holds 188,079 shares of Youdao in the form of American Depositary Shares. This figure reflects his ownership position reported immediately following the 82,120-share Restricted Share Unit award on May 29, 2026.

What is the vesting schedule for Jin Lei’s new Youdao (DAO) RSU award?

The RSU award vests over three dates: 24,636 shares on September 1, 2026, another 24,636 shares on September 1, 2027, and 32,848 shares on September 1, 2028. All units have no exercise price, reflecting standard time-based vesting.

Are Jin Lei’s new Youdao (DAO) RSUs granted at an exercise price?

No, the Restricted Share Units granted to Jin Lei have no exercise price. They represent time-based equity awards that convert into shares as they vest on scheduled dates, rather than options requiring payment of a strike price to receive stock.

In what form were Jin Lei’s Youdao (DAO) RSUs granted?

The RSUs were granted in the form of American Depositary Shares. This means each vested unit will deliver ADSs representing Youdao equity, as specified in the award agreement, instead of ordinary shares traded directly in the company’s home market.