Youdao president sells 70K ADS at $14.97

Youdao president Jin Lei reported a September 2026 sale of 70,047 ADS-based Class A shares and now holds 143,598 shares including future vesting awards.

Rhea-AI Filing Summary

Youdao, Inc. (DAO) reported that president Jin Lei sold 70,047 Class A Ordinary Shares (in the form of American Depositary Shares) on September 9, 2026 in an open-market or private transaction at a weighted average price of $14.9665 per ADS. Following this sale, Jin Lei beneficially holds 143,598 shares, including shares currently held as ADSs and shares scheduled to vest in 2027 and 2028.

Insider Trade Summary

Net Seller: 70,047 shares

Net Sell 1 txn

Insider Jin Lei

Role president

Sold 70,047 shs

Type	Security	Shares	Price	Value
Sale	Class A Ordinary Shares F1, F2, F3	70,047	--	--

Holdings After Transaction: Class A Ordinary Shares — 143,598 shares (Direct)

Footnotes (3)

1. F1. Reflects 70,047 RSU that vested and settled into American Depositary Shares ("ADSs"). This amount represents the ordinary shares underlying the ADSs acquired in connection with such vest.
2. F2. The weighted average price of the shares sold (in the form of ADS) was $14.9665.
3. F3. Including 25,566 shares held in the form of American Depositary Shares, 85,184 shares scheduled to be vested on September 1, 2027, 32,848 shares scheduled to be vested on September 1, 2028.

Key Figures

Shares sold: 70,047 shares Weighted average sale price: $14.9665 per ADS Shares held after transaction: 143,598 shares +4 more

7 metrics

Shares sold 70,047 shares Class A Ordinary Shares (in ADS form) sold on September 9, 2026

Weighted average sale price $14.9665 per ADS Price for shares sold on September 9, 2026

Shares held after transaction 143,598 shares Beneficial ownership following the September 9, 2026 sale

ADS holdings after transaction 25,566 shares Portion of post-transaction holdings in ADS form

RSUs vesting September 1, 2027 85,184 shares Scheduled future vesting as of the filing

RSUs vesting September 1, 2028 32,848 shares Scheduled future vesting as of the filing

RSUs vested and settled into ADSs 70,047 shares RSUs that vested and settled into ADSs corresponding to the reported amount

Key Terms

Restricted Stock Units, American Depositary Shares, weighted average price, beneficially holds

4 terms

Restricted Stock Units financial

"Reflects 70,047 RSU that vested and settled into American Depositary Shares"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

American Depositary Shares financial

"vested and settled into American Depositary Shares ("ADSs")"

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.

weighted average price financial

"The weighted average price of the shares sold (in the form of ADS)"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficially holds financial

"Including 25,566 shares held in the form of American Depositary Shares"

FAQ

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

What insider transaction did Youdao (DAO) report for president Jin Lei?

Youdao reported that president Jin Lei sold 70,047 Class A Ordinary Shares (in the form of ADSs) on September 9, 2026 in a sale classified as an open-market or private transaction.

At what price were Jin Lei’s Youdao (DAO) shares sold?

The filing states that the weighted average price of the shares sold (in the form of ADSs) by Jin Lei was $14.9665 per ADS.

How many Youdao (DAO) shares does Jin Lei hold after the reported sale?

After the reported September 9, 2026 sale, Jin Lei beneficially holds 143,598 Youdao Class A Ordinary Shares, including shares held as ADSs and shares scheduled to vest in future years.

What portion of Jin Lei’s remaining Youdao (DAO) holdings is currently in ADS form?

The filing notes that Jin Lei’s post-transaction holdings include 25,566 shares held in the form of American Depositary Shares as part of the total 143,598 shares beneficially owned.

What future vesting awards for Youdao (DAO) shares does Jin Lei have?

The filing states that Jin Lei’s holdings include 85,184 shares scheduled to vest on September 1, 2027 and 32,848 shares scheduled to vest on September 1, 2028.

How were the 70,047 shares in Jin Lei’s Youdao (DAO) transaction originally acquired?

A footnote explains that the 70,047 shares reflect RSUs that vested and settled into ADSs, and that this amount represents the ordinary shares underlying the ADSs acquired in connection with that vesting.

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

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Available on EDGAR 09/11/2026 - 06:26 AM Accepted by SEC EDGAR 09/11/2026 - 06:26 AM 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^*

Jin Lei

(Last) (First) (Middle)

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

XIBEIWANG EAST ROAD, HAIDIAN DISTRICT

(Street)

BEIJING 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)
09/09/2026

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(1)	09/09/2026		S		70,047	D	(2)	143,598(3)	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. Reflects 70,047 RSU that vested and settled into American Depositary Shares ("ADSs"). This amount represents the ordinary shares underlying the ADSs acquired in connection with such vest.

2. The weighted average price of the shares sold (in the form of ADS) was $14.9665.

3. Including 25,566 shares held in the form of American Depositary Shares, 85,184 shares scheduled to be vested on September 1, 2027, 32,848 shares scheduled to be vested on September 1, 2028.

	/s/ Liting Ren, as attorney in fact for Jin Lei	09/11/2026
	** 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)