Alset unit trims HWH (HWH) stake with 100K-share open-market sale

Rhea-AI Filing Summary

HWH International Inc. disclosed that subsidiary Alset International Limited completed an open-market sale of 100,390 shares of HWH common stock at a weighted average price of $0.983 per share, with individual trade prices ranging from $0.88 to $1.22.

After this transaction, Alset Inc. beneficially owns 4,964,344 HWH shares in total, including 1,891,279 shares held through Alset International Limited, and Chan Heng Fai personally owns 1,002,600 HWH shares.

Insider Trade Summary

Net Seller: 100,390 shares ($98,683)

Net Sell 1 txn

Insider Chan Heng Fai Ambrose, Alset Inc., Alset International Ltd

Role Chief Executive Officer | 10% Owner | 10% Owner

Sold 100,390 shs ($99K)

Type	Security	Shares	Price	Value
Sale	Common Stock	100,390	$0.983	$99K

Holdings After Transaction: Common Stock — 1,891,279 shares (Indirect, See footnote)

Footnotes (1)

1. On March 30, 2026 Alset International Limited sold 100,390 shares of the Issuer's common stock at a weighted average sale price of $0.983. This transaction was executed in multiple trades at prices ranging from $0.88 to $1.22. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. The Chairman, Chief Executive Officer and majority stockholder of Alset Inc., Chan Heng Fai, may also be deemed to possess beneficial ownership of shares of the Issuer owned by Alset Inc. Alset Inc. beneficially owns 4,964,344 shares of the Issuer's common stock, including 2,537,590 shares owned directly, 1,891,279 shares owned indirectly through its majority owned subsidiary Alset International Limited, and 535,475 shares owned indirectly through another majority owned subsidiary of Alset Inc., Alset Acquisition Sponsor, LLC. Mr. Chan owns 1,002,600 shares of the Issuer's common stock personally.

Key Figures

Shares sold: 100,390 shares Weighted average sale price: $0.983 per share Sale price range: $0.88–$1.22 per share +3 more

6 metrics

Shares sold 100,390 shares Open-market sale on March 30, 2026

Weighted average sale price $0.983 per share For 100,390 HWH common shares sold

Sale price range $0.88–$1.22 per share Multiple trade executions on March 30, 2026

Alset Inc. beneficial ownership 4,964,344 shares Total HWH common shares beneficially owned by Alset Inc.

Shares via Alset International Limited 1,891,279 shares HWH shares owned indirectly through Alset International Limited

CEO personal holdings 1,002,600 shares HWH common shares owned personally by Chan Heng Fai

Key Terms

weighted average sale price, beneficial ownership, indirectly, majority owned subsidiary

4 terms

weighted average sale price financial

"sold 100,390 shares of the Issuer's common stock at a weighted average sale price of $0.983"

beneficial ownership financial

"may also be deemed to possess beneficial ownership of shares of the Issuer owned by Alset Inc."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

indirectly financial

"1,891,279 shares owned indirectly through its majority owned subsidiary Alset International Limited"

majority owned subsidiary financial

"owned indirectly through its majority owned subsidiary Alset International Limited"

Form 4 Insider Transactions: What Each Field Means →

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Chan Heng Fai Ambrose

(Last) (First) (Middle)

9 TEMASEK BOULEVARD

#16-04 SUNTEC TOWER TWO

(Street)

SINGAPORE 038989

(City) (State) (Zip)

SINGAPORE

(Country)

2. Issuer Name and Ticker or Trading Symbol
HWH International Inc. [ HWH ]

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/30/2026

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

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

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

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
Common Stock	03/30/2026		S		100,390	D	$0.983(1)	1,891,279(2)	I	See footnote(2)

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

1. Name and Address of Reporting Person^*

Chan Heng Fai Ambrose

(Last) (First) (Middle)

9 TEMASEK BOULEVARD

#16-04 SUNTEC TOWER TWO

(Street)

SINGAPORE 038989

(City) (State) (Zip)

SINGAPORE

(Country)

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^*

Alset Inc.

(Last) (First) (Middle)

4800 MONTGOMERY LANE

SUITE 210

(Street)

BETHESDA MARYLAND 20814

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Alset International Ltd

(Last) (First) (Middle)

9 TEMASEK BOULEVARD #16-04

SUNTEC TOWER TWO

(Street)

SINGAPORE 038989

(City) (State) (Zip)

SINGAPORE

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. On March 30, 2026 Alset International Limited sold 100,390 shares of the Issuer's common stock at a weighted average sale price of $0.983. This transaction was executed in multiple trades at prices ranging from $0.88 to $1.22. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

2. The Chairman, Chief Executive Officer and majority stockholder of Alset Inc., Chan Heng Fai, may also be deemed to possess beneficial ownership of shares of the Issuer owned by Alset Inc. Alset Inc. beneficially owns 4,964,344 shares of the Issuer's common stock, including 2,537,590 shares owned directly, 1,891,279 shares owned indirectly through its majority owned subsidiary Alset International Limited, and 535,475 shares owned indirectly through another majority owned subsidiary of Alset Inc., Alset Acquisition Sponsor, LLC. Mr. Chan owns 1,002,600 shares of the Issuer's common stock personally.

	/s/ Chan Heng Fai Ambrose	04/01/2026
	Alset Inc. /s/ Chan Heng Fai Ambrose, Chief Executive Officer	04/01/2026
	Alset International Limited /s/ Chan Heng Fai Ambrose, Chief Executive Officer	04/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did HWH (HWH) report in this Form 4?

HWH reported that Alset International Limited sold 100,390 shares of HWH common stock in the open market. The weighted average sale price was $0.983 per share, with trades executed between $0.88 and $1.22 per share.

Who executed the recent share sale related to HWH (HWH)?

The sale was executed by Alset International Limited, a majority-owned subsidiary of Alset Inc. This entity sold 100,390 HWH common shares, and the transaction is reported as indirect ownership in the Form 4 filed by Chan Heng Fai and related entities.

At what prices were the HWH (HWH) shares sold in the reported trade?

The 100,390 HWH shares were sold at a weighted average price of $0.983 per share. Individual trades occurred in a price range between $0.88 and $1.22 per share, reflecting multiple executions during the transaction.

How many HWH (HWH) shares does Alset Inc. beneficially own after the sale?

Alset Inc. beneficially owns 4,964,344 HWH common shares. This includes 2,537,590 shares owned directly, 1,891,279 shares through Alset International Limited, and 535,475 shares through Alset Acquisition Sponsor, LLC, as described in the Form 4 footnote.

How many HWH (HWH) shares does CEO Chan Heng Fai personally own?

CEO Chan Heng Fai personally owns 1,002,600 shares of HWH common stock. In addition, he may be deemed to have beneficial ownership of shares held by Alset Inc. and its majority-owned subsidiaries, according to the disclosure in the Form 4 footnotes.

How significant is the reported HWH (HWH) share sale relative to Alset’s holdings?

The reported sale of 100,390 shares by Alset International Limited is small compared with Alset Inc.’s 4,964,344 beneficially owned HWH shares. The filing also notes substantial remaining holdings across Alset entities and Chan Heng Fai personally.