DDC PAO exercises 400K warrants via cashless deals
DDC Enterprise Ltd PAO Yu Yongkang increased his direct equity stake through warrant exercises rather than market trades.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
DDC Enterprise Ltd PAO Yu Yongkang increased his direct equity stake through warrant exercises rather than market trades. On March 20, 2026, he exercised 100,000 warrants at $0.16 per share via a cashless exercise, receiving 95,516 Class A Ordinary Shares. On April 28, 2026, he similarly exercised 300,000 warrants at $0.16 per share, receiving 280,000 Class A Ordinary Shares through another cashless exercise. After these transactions, his direct holdings in Class A Ordinary Shares rose to 375,863 shares. He also continues to hold equity incentives, including Restricted Stock Units covering 609,756 and 80,000 underlying Class A shares and Stock Options over 10,000 shares at $5.50 and 906 shares at $0.04 per share.
Insider Trade Summary
400,000 shares exercised/converted
Exercise
4 txns
Insider
Yu Yongkang
Role
PAO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| In-the-Money Exercise | Warrants | 300,000 | $0.16 | $48K |
| In-the-Money Exercise | Class A Ordinary Shares | 280,000 | $0.16 | $45K |
| In-the-Money Exercise | Warrants | 100,000 | $0.16 | $16K |
| In-the-Money Exercise | Class A Ordinary Shares | 95,516 | $0.16 | $15K |
| Holding | Stock Options | -- | -- | -- |
| Holding | Stock Options | -- | -- | -- |
| Holding | Restricted Stock Units | -- | -- | -- |
| Holding | Restricted Stock Units | -- | -- | -- |
Holdings After Transaction:
Warrants — 0 contracts (Direct);
Class A Ordinary Shares — 375,863 shares (Direct);
Stock Options — 10,906 contracts (Direct);
Restricted Stock Units — 689,756 contracts (Direct)
Holdings Before and After:
Warrants, 400,000 to 0 contracts (Direct);
Class A Ordinary Shares, 347 to 375,863 shares (Direct)
Footnotes (2)
- F1. On March 20, 2026, the reporting person exercised an aggregate of 100,000 warrants pursuant to the exercise notice at the exercise price of $0.16 per share. The reporting person elected to satisfy the aggregate exercise price through a cashless exercise, pursuant to which a net of 95,516 Class A Ordinary Shares was issued to the reporting person.
- F2. On April 28, 2026, the reporting person exercised an aggregate of 300,000 warrants pursuant to the exercise notice at the exercise price of $0.16 per share. The reporting person elected to satisfy the aggregate exercise price through a cashless exercise, pursuant to which a net of 280,000 Class A Ordinary Shares was issued to the reporting person.
Key Figures
Warrants Exercised (Mar 20, 2026): 100,000 warrants at $0.16
Warrants Exercised (Apr 28, 2026): 300,000 warrants at $0.16
Shares received from exercises: 375,516 shares
+5 more
8 metrics
Warrants Exercised (Mar 20, 2026)
100,000 warrants at $0.16
Cashless exercise yielding 95,516 Class A Ordinary Shares
Warrants Exercised (Apr 28, 2026)
300,000 warrants at $0.16
Cashless exercise yielding 280,000 Class A Ordinary Shares
Shares received from exercises
375,516 shares
Net Class A Ordinary Shares from both cashless exercises
Direct shares after transactions
375,863 shares
Class A Ordinary Shares held directly after April 28, 2026
RSUs outstanding (grant 1)
609,756 underlying shares
Restricted Stock Units expiring December 12, 2035
RSUs outstanding (grant 2)
80,000 underlying shares
Restricted Stock Units expiring February 21, 2035
Stock Options at $5.50
10,000 underlying shares
Options expiring February 21, 2035
Stock Options at $0.04
906 underlying shares
Options expiring September 30, 2032
Key Terms
cashless exercise, Restricted Stock Units, Stock Options, in-the-money derivative exercise, +1 more
5 terms
cashless exercise financial
"The reporting person elected to satisfy the aggregate exercise price through a cashless exercise"
A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.
Restricted Stock Units financial
"Restricted Stock Units with underlying security title Class A Ordinary 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.
Stock Options financial
"Stock Options with an exercise price of 5.5000 and 0.0400"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
in-the-money derivative exercise financial
"transaction_action: in-the-money derivative exercise"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did DDC (DDC) report for Yu Yongkang?
DDC reported that PAO Yu Yongkang exercised warrants to acquire Class A Ordinary Shares via cashless exercises. He converted 100,000 and 300,000 warrants into 95,516 and 280,000 shares, respectively, increasing his direct share ownership without open-market buying or selling.
What equity incentives in DDC (DDC) does Yu Yongkang still hold after the warrant exercises?
After these transactions, Yu Yongkang retains Restricted Stock Units over 609,756 and 80,000 underlying Class A shares, plus Stock Options over 10,000 shares at $5.50 and 906 shares at $0.04. These derivative awards provide additional potential future share ownership.
What is a cashless warrant exercise as used in the DDC (DDC) filing?
A cashless warrant exercise lets the holder pay the exercise price by surrendering part of the warrant value instead of cash. In this filing, 100,000 and 300,000 warrants at $0.16 per share produced net issuances of 95,516 and 280,000 Class A Ordinary Shares, respectively.
AI-generated analysis. How Rhea-AI works. Not financial advice.
