Metalpha (NASDAQ: MATH) CEO details warrants, RSUs and share stakes
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Metalpha Technology Holding Ltd Chief Executive Officer and 10% owner Wang Bingzhong has filed an initial ownership report detailing his equity stakes. He holds a warrant over 1,200,000 Ordinary Shares at an exercise price of $1.00 per share, expiring on July 25, 2027. He also reports 375,000 unvested Restricted Share Units (RSUs) from an original 500,000-unit grant, plus 1,039,000 RSUs granted on June 30, 2025, all settling in Ordinary Shares over time. In addition, he directly owns 1,895,910 Ordinary Shares and has indirect ownership of 500,000 RSUs and 3,049,912 Ordinary Shares attributed to his spouse and a spouse-controlled entity, subject to beneficial ownership disclaimers.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Wang Bingzhong
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Warrant | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Restricted Share Units | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Warrant — 1,200,000 shares (Direct);
Restricted Share Units — 375,000 shares (Direct);
Restricted Share Units — 500,000 shares (Indirect, By Spouse);
Ordinary Shares — 1,895,910 shares (Direct);
Ordinary Shares — 3,049,912 shares (Indirect, By Spouse's Entity)
Footnotes (1)
- The shares are held of record by MetaSphere Limited, an entity wholly owned by the Reporting Person's spouse. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose. The warrants became fully exercisable following the satisfaction of exercise conditions that are tied to certain performance targets of the Issuer. Represents the unvested portion of an original grant of 500,000 restricted share units ("RSUs"). Each RSU represents a contingent right to receive one Ordinary Share. 125,000 RSUs vested on December 1, 2025. The remaining 375,000 RSUs vest in three equal annual installments on each anniversary of December 1, 2025, subject to the Reporting Person's continued service to the Issuer. Represents an original grant of 1,039,000 RSUs on June 30, 2025. Each RSU represents a contingent right to receive one Ordinary Share. The RSUs vest in four equal installments on the day following each anniversary of the grant date, commencing on July 1, 2026, subject to the Reporting Person's continued service to the Issuer. Represents 500,000 RSUs granted to the Reporting Person's spouse on June 30, 2025. The RSUs vest in four equal installments on the day following each anniversary of the grant date, commencing on July 1, 2026, subject to the continued service of the Reporting Person's spouse to the Issuer. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
Key Figures
Warrant underlying shares: 1,200,000 Ordinary Shares
Warrant exercise price: $1.00 per share
Unvested RSUs from 500,000 grant: 375,000 RSUs
+4 more
7 metrics
Warrant underlying shares
1,200,000 Ordinary Shares
Fully exercisable warrant at $1.00, expiring July 25, 2027
Warrant exercise price
$1.00 per share
Exercise price for warrant over 1,200,000 Ordinary Shares
Unvested RSUs from 500,000 grant
375,000 RSUs
Original 500,000-unit grant; remaining RSUs vest annually after December 1, 2025
June 30, 2025 RSU grant
1,039,000 RSUs
Grant to CEO vesting in four equal installments starting July 1, 2026
Spouse RSU grant
500,000 RSUs
Granted to CEO’s spouse on June 30, 2025, vesting over four years
Direct Ordinary Shares
1,895,910 shares
Ordinary Shares held directly by the CEO as of this report
Indirect Ordinary Shares
3,049,912 shares
Held by MetaSphere Limited, an entity wholly owned by the CEO’s spouse
Key Terms
Restricted Share Units, warrants, beneficial ownership, pecuniary interest, +1 more
5 terms
warrants financial
"The warrants became fully exercisable following the satisfaction of exercise conditions that are tied to certain performance targets of the Issuer."
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein"
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.
pecuniary interest financial
"except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report"
Section 16 regulatory
"shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose."
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
What does Metalpha (MATH) CEO Wang Bingzhong report in this Form 3?
He reports his initial ownership in Metalpha, including Ordinary Shares, warrants, and Restricted Share Units. The filing lists both his direct holdings and indirect positions attributed to his spouse and a spouse-controlled entity, giving a baseline picture of his equity exposure.
What warrant position does the Metalpha (MATH) CEO report?
He reports a warrant over 1,200,000 Ordinary Shares with a $1.00 exercise price, expiring July 25, 2027. The footnotes state this warrant became fully exercisable after meeting performance targets, indicating a performance-based derivative position rather than an open-market purchase.
How are the Metalpha (MATH) CEO’s spouse’s RSUs treated in this filing?
The filing shows 500,000 RSUs granted to his spouse on June 30, 2025, vesting in four equal installments starting July 1, 2026. These are reported as indirect holdings, with the CEO disclaiming beneficial ownership beyond his pecuniary interest in the securities.
Does this Metalpha (MATH) Form 3 show recent insider buying or selling?
No specific buy or sell transactions are identified; all entries are classified as holdings with unknown transaction codes. The report functions as an initial snapshot of the CEO’s existing equity positions rather than evidence of recent open-market trading activity.
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