DSC (DSC) CEO Yao Junhong discloses major share and option holdings
Rhea-AI Filing Summary
DSC Holdings Ltd. director, chief executive officer and ten percent owner Yao Junhong filed an initial ownership report on Form 3. The filing lists indirect holdings of ordinary shares through Crystal Gem Holdings Limited and Binary Sky Limited, as well as multiple series of preferred shares held through Crystal Gem, Binary Sky and Cheche Group Limited.
The report also discloses several option grants held directly by Yao Junhong over Class A ordinary shares, with exercise prices of $0.4796 and $0.2109 per share expiring in 2032. Footnotes state that, immediately prior to completion of DSC’s initial public offering, certain ordinary and preferred shares will convert into Class A or Class B ordinary shares on a one-for-one basis, and that the options were granted under the company’s 2023 equity plan with vesting tied to the IPO and a four-year service schedule.
Positive
- None.
Negative
- None.
Insider Trade Summary
12 transactions reported
Mixed
12 txns
Insider
Yao Junhong
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series D-1 preferred shares | -- | -- | -- |
| holding | Series E-1 preferred shares | -- | -- | -- |
| holding | Series E-2 preferred shares | -- | -- | -- |
| holding | Series E-2 preferred shares | -- | -- | -- |
| holding | Series E-3 preferred shares | -- | -- | -- |
| holding | Series F preferred shares | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Ordinary shares | -- | -- | -- |
| holding | Ordinary shares | -- | -- | -- |
Holdings After Transaction:
Series D-1 preferred shares — 44,094,200 shares (Indirect, Held by Crystal Gem Holdings Limited);
Series E-1 preferred shares — 108,466,752 shares (Indirect, Held by Cheche Group Limited);
Series E-2 preferred shares — 96,088,171 shares (Indirect, Held by Cheche Group Limited);
Series E-2 preferred shares — 43,635,180 shares (Indirect, Held by Crystal Gem Holdings Limited);
Series E-3 preferred shares — 17,267,771 shares (Indirect, Held by Cheche Group Limited);
Series F preferred shares — 1,139,559 shares (Indirect, Held by Binary Sky Limited);
Options — 4,581,000 shares (Direct);
Ordinary shares — 108,330,350 shares (Indirect, Held by Binary Sky Limited);
Ordinary shares — 1,500,000 shares (Indirect, Held by Crystal Gem Holdings Limited)
Footnotes (6)
- F1. Immediately prior to the completion of the Issuer's initial public offering, such ordinary shares will be redesignated as Class B ordinary shares on a one-for-one basis.
- F2. Immediately prior to the completion of the Issuer's initial public offering, such ordinary shares will be redesignated as Class A ordinary shares on a one-for-one basis.
- F3. Immediately prior to the completion of the Issuer's initial public offering, such Series D-1 and Series E-2 preferred shares will be converted and redesignated as Class A ordinary shares on a one-for-one basis.
- F4. Immediately prior to the completion of the Issuer's initial public offering, such Series E-1, Series E-2, Series E-3 and Series F preferred shares will be converted and redesignated as Class B ordinary shares on a one-for-one basis.
- F5. These options were granted to the reporting person pursuant to the Issuer's 2023 Plan on July 25, 2023. All such options will become exercisable upon the completion of the Issuer's initial public offering.
- F6. These options were granted to the reporting person pursuant to the Issuer's 2023 Plan on July 25, 2023 and subject to 4-year service based vesting schedule, with 25% vesting each year.
Key Figures
Indirect ordinary shares via Crystal Gem: 1,500,000 shares
Indirect ordinary shares via Binary Sky: 108,330,350 shares
Options at $0.4796: 1,500,000 underlying shares
+5 more
8 metrics
Indirect ordinary shares via Crystal Gem
1,500,000 shares
Ordinary shares held by Crystal Gem Holdings Limited as of transaction date
Indirect ordinary shares via Binary Sky
108,330,350 shares
Ordinary shares held by Binary Sky Limited as of transaction date
Options at $0.4796
1,500,000 underlying shares
Options over Class A ordinary shares, exercise price $0.4796, expiring October 1, 2032
Options at $0.2109
3,000,000 underlying shares
Options over Class A ordinary shares, exercise price $0.2109, expiring October 1, 2032
Series F preferred indirect holding
1,139,559 shares
Series F preferred shares held by Binary Sky Limited, underlying Class B ordinary shares
Series E-3 preferred indirect holding
17,267,771 shares
Series E-3 preferred shares held by Cheche Group Limited, underlying Class B ordinary shares
Series E-2 preferred via Crystal Gem
43,635,180 shares
Series E-2 preferred shares held by Crystal Gem Holdings Limited, underlying Class A ordinary shares
Series D-1 preferred via Crystal Gem
44,094,200 shares
Series D-1 preferred shares held by Crystal Gem Holdings Limited, underlying Class A ordinary shares
Key Terms
Class A ordinary shares, Class B ordinary shares, Series E-2 preferred shares, initial public offering, +1 more
5 terms
initial public offering financial
"Immediately prior to the completion of the Issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
2023 Plan financial
"These options were granted ... pursuant to the Issuer's 2023 Plan on July 25, 2023"
FAQ
What does DSC (DSC) CEO Yao Junhong report on this Form 3?
The Form 3 shows Yao Junhong’s initial ownership in DSC, including indirect ordinary and preferred share holdings through Crystal Gem, Binary Sky and Cheche Group, plus several option awards over Class A ordinary shares with long-dated expirations and specified exercise prices.
What vesting terms apply to DSC options granted to Yao Junhong?
The options were granted under DSC’s 2023 equity plan. One footnote explains all such options become exercisable upon completion of DSC’s initial public offering, while another describes a four-year service-based vesting schedule with 25% of the award vesting each year.
AI-generated analysis. How Rhea-AI works. Not financial advice.
