GigaCloud CTO-linked entity sells 100K shares
GigaCloud Technology Inc’s Form 4 shows an entity linked to its Chief Technology Officer, FAITHFUL WINNER HOLDINGS LIMITED, selling 100,000 Class A ordinary shares in an open-market transaction.
Rhea-AI Filing Summary
GigaCloud Technology Inc’s Form 4 shows an entity linked to its Chief Technology Officer, FAITHFUL WINNER HOLDINGS LIMITED, selling 100,000 Class A ordinary shares in an open-market transaction. The weighted average sale price was about $43.38 per share, with individual trades ranging from $43.39 to $44.04.
Following the sale, FAITHFUL WINNER HOLDINGS LIMITED holds 717,540 Class A ordinary shares. Separately, Xin Wan holds 5,500 Restricted Share Units directly, each representing a contingent right to receive one Class A share. These RSUs vest over a twelve-month period from the grant date, subject to continuous service.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Ordinary Shares, par value $0.05 per share | 100,000 | $43.38 | $4.34M |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Class A Ordinary Shares, par value $0.05 per share | -- | -- | -- |
Footnotes (5)
- F1. Represents the weighted average sale price. The lowest price at which shares were sold was $43.39 and the highest price at which shares were sold was $44.04.
- F2. 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.
- F3. The securities are directly held by FAITHFUL WINNER HOLDINGS LIMITED. Xin Wan is the sole shareholder and sole director of FAITHFUL WINNER HOLDINGS LIMITED and may be deemed to be an indirect beneficial owner of the securities held by FAITHFUL WINNER HOLDINGS LIMITED.
- F4. Each Restricted Share Unit ("RSU") represents a contingent right to receive one share of Class A ordinary shares of the Issuer when vested.
- F5. The RSUs will be vested at the end of the twelve (12)-month period commencing from the date of grant, subject to continuous service. Vested shares will be delivered to the reporting person following vesting.
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