Li Auto (LI) president awarded 7.5M options tied to performance targets

Rhea-AI Filing Summary

Li Auto Inc. reported that President Ma Donghui received a grant of share options as part of his compensation. On June 15, 2026, he was awarded 7,500,000 share options to acquire American depositary shares at an exercise price of $14.38 per share option.

The options cover 7,500,000 American depositary shares and are classified as a grant or award, not an open‑market purchase. Following this grant, Ma holds 7,500,000 share options directly. The options will vest only upon first achievement of specified tiered performance targets described in a related Form 6‑K exhibit.

Insights

Equity compensation analyst

Large option grant to Li Auto's president is compensation-related and not a market trade.

President Ma Donghui received 7,500,000 share options on American depositary shares at an exercise price of $14.38. This is a derivative award (code A), meaning the company granted options rather than Ma buying shares in the market.

The options vest only when certain tiered targets are first achieved, tying potential value to company performance. Because this is a compensation grant with no open‑market buying or selling, it is generally viewed as an administrative update rather than a directional trading signal for investors.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Ma Donghui

Role President

Type	Security	Shares	Price	Value
Grant/Award	Share Options (right to buy)	7,500,000	$0.00	--

Holdings After Transaction: Share Options (right to buy) — 7,500,000 shares (Direct, null)

Footnotes (1)

1. The options will vest upon the first achievement of certain tiered targets. See Exhibit 99.1 to the issuer's current report on Form 6-K dated June 16, 2026 for further details. Each American depositary share represents two Class A ordinary shares.

Key Figures

Share options granted: 7,500,000 options Exercise price: $14.38 per option Underlying ADS: 7,500,000 American depositary shares +1 more

4 metrics

Share options granted 7,500,000 options Grant to president Ma Donghui on June 15, 2026

Exercise price $14.38 per option Strike price for newly granted options

Underlying ADS 7,500,000 American depositary shares Shares subject to the granted options

Total options after grant 7,500,000 options Total derivative holdings following transaction

Key Terms

Share Options (right to buy), American depositary shares, tiered targets, Form 6-K

4 terms

Share Options (right to buy) financial

"security_title: "Share Options (right to buy)""

American depositary shares financial

"underlying_security_title: "American depositary shares""

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

tiered targets financial

"The options will vest upon the first achievement of certain tiered targets."

Form 6-K regulatory

"See Exhibit 99.1 to the issuer's current report on Form 6-K dated June 16, 2026"

A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.

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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^*

Ma Donghui

(Last) (First) (Middle)

11 WENLIANG STREET, SHUNYI DISTRICT

(Street)

BEIJING 101399

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Li Auto Inc. [ LI ]

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

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

2a. Foreign Trading Symbol
[HKEX: 2015]

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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

X	Form filed by One Reporting Person
	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

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
Share Options (right to buy)	$14.38	06/15/2026		A		7,500,000		(1)	(1)	American depositary shares(2)	7,500,000	$0	7,500,000	D

Explanation of Responses:

1. The options will vest upon the first achievement of certain tiered targets. See Exhibit 99.1 to the issuer's current report on Form 6-K dated June 16, 2026 for further details.

2. Each American depositary share represents two Class A ordinary shares.

	/s/ Donghui Ma	06/17/2026
	** 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 did Li Auto (LI) president Ma Donghui receive in this Form 4 filing?

Li Auto president Ma Donghui received a grant of 7,500,000 share options. These options give him the right to buy American depositary shares at a set price as part of his compensation package, rather than reflecting an open‑market stock purchase.

What is the exercise price of Ma Donghui’s Li Auto (LI) share options?

The granted share options have an exercise price of $14.38 per option. This is the price at which Ma can purchase American depositary shares in the future once vesting and any other applicable conditions are satisfied.

How many Li Auto (LI) American depositary shares are covered by the new options?

The grant covers 7,500,000 American depositary shares. Each option corresponds to one American depositary share, and each American depositary share represents two Class A ordinary shares, according to the footnote disclosure.

Is Ma Donghui buying or selling Li Auto (LI) stock in this Form 4?

He is not buying or selling stock on the open market. The Form 4 reports a compensation grant of 7,500,000 share options, classified as a derivative acquisition, rather than a purchase or sale of existing Li Auto shares.

What are the vesting conditions for Ma Donghui’s Li Auto (LI) options?

The options will vest upon first achievement of certain tiered targets. Specific details of these performance-based vesting conditions are described in Exhibit 99.1 to Li Auto’s Form 6‑K dated June 16, 2026.

How many Li Auto (LI) share options does Ma Donghui hold after this grant?

After this reported transaction, Ma Donghui holds a total of 7,500,000 share options directly. This total reflects the full amount of the newly granted options as reported in the Form 4 filing.