Youdao (DAO) VP exercises options and sells 6,300 company shares

Rhea-AI Filing Summary

Youdao, Inc. Vice President Li Yongwei reported an exercise-and-sell transaction in company shares. On June 29 and 30, 2026, he exercised options for a total of 6,300 Class A Ordinary Shares at an exercise price of $4.5 per share, then sold the same 6,300 shares in open-market trades at weighted average prices of $11.60 and $12.20. Following these transactions, he holds 5,720 Class A Ordinary Shares directly and retains 20,000 options on the underlying shares.

Insider Trade Summary

6,300 shares exercised/converted

Net Sell 6 txns

Insider Li Yongwei

Role Vice President

Sold 6,300 shs ($0.00)

Type	Security	Shares	Price	Value
Exercise	Option	2,300	$0.00	--
Exercise	Class A Ordinary Shares	2,300	$0.00	--
Sale	Class A Ordinary Shares	2,300	$0.00	--
Exercise	Option	4,000	$0.00	--
Exercise	Class A Ordinary Shares	4,000	$0.00	--
Sale	Class A Ordinary Shares	4,000	$0.00	--

Holdings After Transaction: Option — 20,000 shares (Direct, null); Class A Ordinary Shares — 5,720 shares (Direct, null)

Footnotes (1)

1. Reflects 4,000 option award that exercised (with the exercise price of $4.5 per share) and settled into American Depositary Shares ("ADSs"). This amount represents the ordinary shares underlying the ADSs acquired in connection with such option exercise. The weighted average price of the shares sold was $11.60. Reflects 2,300 option award that exercised (with the exercise price of $4.5 per share) and settled into American Depositary Shares ("ADSs"). This amount represents the ordinary shares underlying the ADSs acquired in connection with such option exercise. The weighted average price of the shares sold was $12.20. The disposed 4000 Option award was granted on January 25, 2021, expiring on January 26, 2027, with the exercise price of $4.5 per share and exercised on June 29, 2026. The disposed 2300 Option award was granted on January 25, 2021, expiring on January 26, 2027, with the exercise price of $4.5 per share and exercised on June 30, 2026.

Key Figures

Shares sold: 6,300 shares Exercise price: $4.5 per share Sale price 4,000 shares: $11.60 per share +3 more

6 metrics

Shares sold 6,300 shares Total Class A Ordinary Shares sold in June 2026

Exercise price $4.5 per share Strike price for 4,000 and 2,300-share option awards

Sale price 4,000 shares $11.60 per share Weighted average price for 4,000-share sale

Sale price 2,300 shares $12.20 per share Weighted average price for 2,300-share sale

Shares held after 5,720 shares Direct Class A Ordinary Shares after June 30, 2026

Options remaining 20,000 options Total options following June 30, 2026 derivative entry

Key Terms

American Depositary Shares, weighted average price, option award, exercise price, +1 more

5 terms

American Depositary Shares financial

"settled into American Depositary Shares ("ADSs"). This amount represents the ordinary 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.

weighted average price financial

"The weighted average price of the shares sold was $11.60."

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.

option award financial

"Reflects 4,000 option award that exercised (with the exercise price of $4.5 per share)"

exercise price financial

"with the exercise price of $4.5 per share and exercised on June 29, 2026."

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

expiration date financial

"granted on January 25, 2021, expiring on January 26, 2027, with the exercise price"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/01/2026 - 06:35 AM Accepted by SEC EDGAR 07/01/2026 - 06:34 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^*

Li Yongwei

(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)
	Vice President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/29/2026

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
Class A Ordinary Shares	06/29/2026		M		4,000	A	(1)	7,420	D
Class A Ordinary Shares	06/29/2026		S		4,000	D	(2)	3,420	D
Class A Ordinary Shares	06/30/2026		M		2,300	A	(3)	5,720	D
Class A Ordinary Shares	06/30/2026		S		2,300	D	(4)	3,420	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
Option	(5)	06/29/2026		M			4,000	(5)	(5)	Class A Ordinary Shares	4,000	$0	22,300	D
Option	(6)	06/30/2026		M			2,300	(6)	(6)	Class A Ordinary Shares	2,300	$0	20,000	D

Explanation of Responses:

1. Reflects 4,000 option award that exercised (with the exercise price of $4.5 per share) and settled into American Depositary Shares ("ADSs"). This amount represents the ordinary shares underlying the ADSs acquired in connection with such option exercise.

2. The weighted average price of the shares sold was $11.60.

3. Reflects 2,300 option award that exercised (with the exercise price of $4.5 per share) and settled into American Depositary Shares ("ADSs"). This amount represents the ordinary shares underlying the ADSs acquired in connection with such option exercise.

4. The weighted average price of the shares sold was $12.20.

5. The disposed 4000 Option award was granted on January 25, 2021, expiring on January 26, 2027, with the exercise price of $4.5 per share and exercised on June 29, 2026.

6. The disposed 2300 Option award was granted on January 25, 2021, expiring on January 26, 2027, with the exercise price of $4.5 per share and exercised on June 30, 2026.

	/s/ Liting Ren, as Attorney-in-Fact for Li Yongwei	07/01/2026
	** 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 did Youdao (DAO) Vice President Li Yongwei report in this Form 4?

Li Yongwei reported exercising options for 6,300 Class A Ordinary Shares and selling all 6,300 shares in open-market transactions. The filing details exercise prices, sale prices, and his resulting share and option holdings after the transactions.

How many Youdao (DAO) shares did the vice president sell and at what prices?

He sold a total of 6,300 Class A Ordinary Shares. The weighted average sale prices were $11.60 per share for the 4,000-share sale and $12.20 per share for the 2,300-share sale, according to the disclosed transaction footnotes.

What was the option exercise price in the Youdao (DAO) insider transaction?

The options were exercised at an exercise price of $4.5 per share. Footnotes explain that 4,000 and 2,300-share option awards, both with a $4.5 strike, were exercised and settled into American Depositary Shares representing the underlying ordinary shares.

How many Youdao (DAO) shares does the insider hold after these transactions?

After the reported trades, Li Yongwei directly holds 5,720 Class A Ordinary Shares. This figure comes from the post-transaction holding line in the non-derivative transaction table for the last exercise entry dated June 30, 2026.

Does the Youdao (DAO) vice president still hold options after exercising some awards?

Yes. The derivative transaction table shows 20,000 options remaining following the June 30, 2026 exercise. Earlier footnotes describe the exercised 4,000 and 2,300-share option awards separately from the option balance that continues outstanding.

Were the Youdao (DAO) insider transactions open-market sales or tax-related disposals?

The sales are classified as open-market or private transactions with transaction code "S". There are no entries coded for tax withholding, and the filing characterizes the other transactions as option exercises rather than tax-related dispositions.