HSDT chair settles 1.1M RSUs into Class A shares
Solana Co Executive Chairman Chee Choon Wee settled a large equity award into shares.
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Form Type
4
Rhea-AI Filing Summary
Solana Co Executive Chairman Chee Choon Wee settled a large equity award into shares. On May 11, 2026, 1,109,118 restricted stock units converted into 1,109,118 shares of Class A Common Stock at $0.00 per share, leaving 1,109,118 shares held directly.
The RSUs were granted on September 18, 2025 under the 2022 Equity Incentive Plan, fully vesting on October 30, 2025 after shareholder approval of a share reserve increase. The filing also notes 5,377,125 Class A shares held indirectly by Fusion Summer Limited and 2,218,236 Strategic Advisory Warrants held indirectly by Summer Wisdom Holdings Limited with a $0.001 per-share exercise price, which are attributed to those entities.
Insider Trade Summary
1,109,118 shares exercised/converted
Exercise
4 txns
Insider
Chee Choon Wee
Role
Executive Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit Award | 1,109,118 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 1,109,118 | $0.00 | $0.00 |
| Grant/Award | Strategic Advisory Warrants | 2,218,236 | $0.00 | $0.00 |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Strategic Advisory Warrants — 2,218,236 contracts (Indirect, By Summer Wisdom Holdings Limited);
Restricted Stock Unit Award — 0 contracts (Direct);
Class A Common Stock — 1,109,118 shares (Direct);
Class A Common Stock — 5,377,125 shares (Indirect, By Fusion Summer Limited)
Footnotes (6)
- F1. Shares of Class A Common Stock acquired upon the vesting of the restricted stock unit award (the "RSUs").
- F2. Reflects the distribution-in-kind by Fusion Summer Limited ("Fusion Summer") to one of its members for no consideration.
- F3. Summer Wisdom Holdings Limited ("Summer Wisdom") holds all of the ordinary shares of Fusion Summer and Fusion Summer holds shares of the Issuer's Class A Common Stock. The Reporting Person is the controlling shareholder of Summer Wisdom and, as such, has the power to vote and dispose of the shares held by Fusion Summer. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
- F4. Immediately exercisable.
- F5. Each RSU represents a contingent right to receive one (1) share of the Issuer's Class A Common Stock.
- F6. On September 18, 2025, the Reporting Person was granted 1,109,118 RSUs under the Issuer's 2022 Equity Incentive Plan (the "Plan"). On October 30, 2025, the RSUs fully vested following the shareholder approval of a share reserve increase to the Issuer's Plan. On May 11, 2026, each RSU settled into one share of the Issuer's Class A Common Stock.
Key Figures
RSUs settled: 1,109,118 shares
Direct holdings after settlement: 1,109,118 shares
Indirect Class A shares: 5,377,125 shares
+5 more
8 metrics
RSUs settled
1,109,118 shares
RSUs converting into Class A Common Stock on May 11, 2026
Direct holdings after settlement
1,109,118 shares
Class A Common Stock held directly following RSU settlement
Indirect Class A shares
5,377,125 shares
Held by Fusion Summer Limited as disclosed in the filing
Strategic Advisory Warrants
2,218,236 warrants
Held by Summer Wisdom Holdings Limited, immediately exercisable
Warrant exercise price
$0.001 per share
Exercise price for Strategic Advisory Warrants into Class A Common Stock
Warrant expiration
September 17, 2030
Expiration date of Strategic Advisory Warrants
RSU grant date
September 18, 2025
Grant of 1,109,118 RSUs under 2022 Equity Incentive Plan
RSU vesting date
October 30, 2025
RSUs fully vested after shareholder approval of plan share increase
Key Terms
Restricted Stock Unit, 2022 Equity Incentive Plan, distribution-in-kind, Strategic Advisory Warrants, +1 more
5 terms
Restricted Stock Unit financial
"Shares of Class A Common Stock acquired upon the vesting of the restricted stock unit award"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
2022 Equity Incentive Plan financial
"granted 1,109,118 RSUs under the Issuer's 2022 Equity Incentive Plan"
distribution-in-kind financial
"Reflects the distribution-in-kind by Fusion Summer Limited to one of its members"
A distribution-in-kind is when a company or fund pays shareholders with assets—such as stock, bonds, or physical property—instead of cash. For investors it matters because the received items may be harder to sell, have different tax consequences, and can change the risk and value of their holdings, similar to being handed a slice of pie instead of money for your share of the bakery.
Strategic Advisory Warrants financial
"Strategic Advisory Warrants held by Summer Wisdom Holdings Limited"
pecuniary interest financial
"disclaims beneficial ownership of these shares except to the extent of his pecuniary interest"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did HSDT Executive Chairman Chee Choon Wee report in this Form 4?
Chee Choon Wee reported the settlement of 1,109,118 restricted stock units into 1,109,118 shares of Class A Common Stock at $0.00 per share on May 11, 2026, reflecting the conversion of a previously granted equity award into direct share ownership.
When were the 1,109,118 RSUs in HSDT granted and when did they vest?
The 1,109,118 RSUs were granted on September 18, 2025 under Solana Co’s 2022 Equity Incentive Plan. They fully vested on October 30, 2025 after shareholders approved an increase to the plan’s share reserve, and then settled into shares on May 11, 2026.
Does the HSDT Form 4 indicate any open-market buying or selling by Chee Choon Wee?
The Form 4 does not show open-market purchases or sales. It reports a derivative exercise where 1,109,118 restricted stock units settled into the same number of Class A shares, plus previously reported indirect holdings and warrants attributed to related entities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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