GCT Form 4: Lei Wu Reports 100K-Share Sale, Large Indirect Holdings

Rhea-AI Filing Summary

GigaCloud Technology Inc (GCT) insider Form 4: Lei Wu, the company's Chief Executive Officer, director and a 10% owner, reported transactions dated 09/10/2025. Mr. Wu (individually and through Shan Lao Hu Tong LLC and Ji Xiang Hu Tong Holdings Limited) reported a sale of 100,000 Class A ordinary shares at $28.5174 per share, leaving 60,000 Class A shares beneficially owned following the sale. The filing also shows indirect beneficial ownership of 8,076,732 shares represented by Class B ordinary shares convertible into Class A shares and held by the related entities. The filing includes explanatory notes clarifying Mr. Wu's indirect ownership through the entities and is signed on 09/10/2025.

Positive

• Timely and complete disclosure of the insider sale and indirect holdings with explanatory notes and signatures dated 09/10/2025
• Clear ownership chain showing Mr. Wu's role as sole member/manager of Shan Lao Hu Tong LLC and indirect ownership through Ji Xiang Hu Tong Holdings Limited

Negative

• Insider disposition of 100,000 Class A shares was reported, which reduces directly held Class A shares to 60,000
• Large indirect convertible position of 8,076,732 Class B shares exists, which could affect outstanding float if converted

Insights

Securities Analyst

TL;DR: CEO Lei Wu reported an insider sale of 100,000 Class A shares and retains substantial indirect holdings via related entities.

The Form 4 discloses an open-market sale on 09/10/2025 of 100,000 Class A shares at $28.5174, reducing directly reported beneficial ownership to 60,000 Class A shares for the reporting person. The filing also documents indirect beneficial ownership of 8,076,732 shares via Class B shares held by Ji Xiang Hu Tong Holdings Limited, which are convertible into Class A shares. The report clearly outlines the ownership chain: Mr. Wu is sole member/manager of Shan Lao Hu Tong LLC, which wholly owns Ji Xiang Hu Tong Holdings Limited. The filing is complete with signatures and explanatory notes, enabling investors to see both the executed disposition and the scale of indirect holdings.

Corporate Governance Expert

TL;DR: Filing provides clear disclosure of ownership structure and an insider disposition; governance transparency is adequate.

The submission identifies Lei Wu as CEO, director and 10% owner and documents his role in the ownership chain that creates indirect control over a large block of convertible Class B shares. The Form 4 includes the required explanatory statements and signatures dated 09/10/2025. From a governance perspective, the filing meets disclosure obligations by reporting the transaction, describing indirect holdings, and noting convertibility of Class B shares into Class A shares at no cost.

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

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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^*

Wu Lei

(Last) (First) (Middle)

C/O GIGACLOUD TECHNOLOGY INC

4388 SHIRLEY AVENUE

(Street)

EL MONTE CA 91731

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GigaCloud Technology Inc [ GCT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

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, par value $0.05 per share	09/10/2025		S		100,000	D	$28.5174	60,000	I	By Shan Lao Hu Tong LLC and Ji Xiang Hu Tong Holdings Limited(1)(2)(3)

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
Class B Ordinary Shares, par value $0.05 per share	(4)							(4)	(4)	Class A Ordinary Shares, par value $0.05 per share	8,076,732		8,076,732	I	By Shan Lao Hu Tong LLC and Ji Xiang Hu Tong Holdings Limited(1)(3)(5)

1. Name and Address of Reporting Person^*

Wu Lei

(Last) (First) (Middle)

C/O GIGACLOUD TECHNOLOGY INC

4388 SHIRLEY AVENUE

(Street)

EL MONTE CA 91731

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

JI XIANG HU TONG HOLDINGS LTD

(Last) (First) (Middle)

C/O GIGACLOUD TECHNOLOGY INC

4388 SHIRLEY AVENUE

(Street)

EL MONTE CA 91731

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

SHAN LAO HU TONG LLC

(Last) (First) (Middle)

C/O GIGACLOUD TECHNOLOGY INC

4388 SHIRLEY AVENUE

(Street)

EL MONTE CA 91731

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. Lei Wu ("Mr. Wu") is the sole member and sole manager of a limited liability company, Shan Lao Hu Tong LLC, that is the sole shareholder of Ji Xiang Hu Tong Holdings Limited. As a result of these relationships, Mr. Wu may be deemed to be an indirect beneficial owner of the securities held by Ji Xiang Hu Tong Holdings Limited.

2. Represents Class A ordinary shares, par value of US$0.05 per share, of the Issuer ("Class A Ordinary Shares") directly held by Ji Xiang Hu Tong Holdings Limited.

3. This report shall not be deemed an admission that any of the reporting persons is the beneficial owner of such securities for purposes of Section 16 of Securities Exchange Act of 1934, as amended, or for any other purpose.

4. The Class B Ordinary Shares are convertible at any time at the option of the holder into an equal number of Class A Ordinary Shares at no cost.

5. Represents Class B ordinary shares, par value of US$0.05 per share, of the Issuer ("Class B Ordinary Shares") directly held by Ji Xiang Hu Tong Holdings Limited.

Remarks:

	/s/ Lei Wu	09/10/2025
	/s/ Lei Wu, for Ji Xiang Hu Tong Holdings Limited, By: Lei Wu, its director	09/10/2025
	/s/ Lei Wu, for Shan Lao Hu Tong LLC, By: Lei Wu, its sole member	09/10/2025
	** Signature of Reporting Person	Date
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FAQ

What did Lei Wu report on Form 4 for GCT?

He reported a sale of 100,000 Class A ordinary shares on 09/10/2025 at $28.5174 per share and disclosed indirect beneficial ownership via related entities.

How many Class A shares does Lei Wu beneficially own after the transaction?

The filing shows 60,000 Class A shares beneficially owned following the reported sale.

What indirect holdings are disclosed in the filing?

Ji Xiang Hu Tong Holdings Limited is reported to hold 8,076,732 Class B ordinary shares, which are convertible into an equal number of Class A shares.

What is the ownership relationship between the reporting persons?

The filing states Lei Wu is the sole member/manager of Shan Lao Hu Tong LLC, which is the sole shareholder of Ji Xiang Hu Tong Holdings Limited, creating indirect beneficial ownership.

When was the Form 4 signed?

The signatures on the Form 4 are dated 09/10/2025.