Metalpha CFO receives 3,750 shares as award vests

The remaining 11,250 RSUs vest over three annual installments through July 1, 2029, subject to continued service.

Rhea-AI Filing Summary

Metalpha Technology Holding Ltd Chief Financial Officer and director Pengyuan Fan received 3,750 Ordinary Shares when the first of four equal annual installments of 15,000 restricted share units vested on July 1, 2026. The remaining 11,250 RSUs are scheduled to vest in three equal annual installments on July 1, 2027, July 1, 2028 and July 1, 2029, subject to continued service. Following the transaction, Fan held 6,250 Ordinary Shares.

Insider Trade Summary

3,750 shares exercised/converted

Exercise 2 txns

Insider Fan Pengyuan

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Share Units F1	3,750	$0.00	$0.00
Exercise	Ordinary Shares F1	3,750	$0.00	$0.00

Holdings After Transaction: Restricted Share Units — 11,250 contracts (Direct); Ordinary Shares — 6,250 shares (Direct)

Footnotes (1)

1. F1. Represents 3,750 Ordinary Shares issued to the Reporting Person upon the vesting, on July 1, 2026, of the first of four equal annual installments of 15,000 restricted share units ("RSUs") originally granted to the Reporting Person on June 30, 2025, as reported on the Reporting Person's Form 3. The remaining unvested portion (11,250 RSUs) continues to vest in three equal annual installments on July 1, 2027, July 1, 2028 and July 1, 2029, subject to the Reporting Person's continued service to the Issuer.

Key Figures

Ordinary Shares issued: 3,750 Ordinary Shares Original restricted share unit award: 15,000 restricted share units Unvested RSUs: 11,250 RSUs +1 more

4 metrics

Ordinary Shares issued 3,750 Ordinary Shares Upon vesting on July 1, 2026

Original restricted share unit award 15,000 restricted share units Granted June 30, 2025

Unvested RSUs 11,250 RSUs Remaining after the July 1, 2026 vesting

Ordinary Shares held after transaction 6,250 Ordinary Shares Following the July 1, 2026 transaction

Key Terms

restricted share units, vesting, unvested portion

3 terms

restricted share units financial

"15,000 restricted share units"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

vesting financial

"upon the vesting, on July 1, 2026"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

unvested portion financial

"The remaining unvested portion (11,250 RSUs)"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many MATH shares did CFO Pengyuan Fan receive from RSU vesting?

Pengyuan Fan received 3,750 Ordinary Shares when the first of four equal annual installments of 15,000 restricted share units vested on July 1, 2026.

How many MATH Ordinary Shares did Pengyuan Fan hold after the transaction?

After the July 1, 2026 transaction, Pengyuan Fan held 6,250 Ordinary Shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/29/2026 - 09:19 AM Accepted by SEC EDGAR 09/29/2026 - 09:19 AM Learn about SEC filing dates

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^*

Fan Pengyuan

(Last) (First) (Middle)

C/O SUITE 5506-07

CENTRAL PLAZA 18 HARBOUR ROAD

(Street)

WAN CHAI HONG KONG

(City) (State) (Zip)

HONG KONG

(Country)

2. Issuer Name and Ticker or Trading Symbol
Metalpha Technology Holding Ltd [ MATH ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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
Ordinary Shares	07/01/2026		M(1)		3,750	A	$0	6,250	D

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
Restricted Share Units(1)	$0.00	07/01/2026		M			3,750	07/01/2027	07/01/2029	Ordinary Shares	11,250	$0	11,250	D

Explanation of Responses:

1. Represents 3,750 Ordinary Shares issued to the Reporting Person upon the vesting, on July 1, 2026, of the first of four equal annual installments of 15,000 restricted share units ("RSUs") originally granted to the Reporting Person on June 30, 2025, as reported on the Reporting Person's Form 3. The remaining unvested portion (11,250 RSUs) continues to vest in three equal annual installments on July 1, 2027, July 1, 2028 and July 1, 2029, subject to the Reporting Person's continued service to the Issuer.

	/s/ Xiaosi Zhang, as Attorney-in-Fact for Pengyuan Fan	09/29/2026
	** 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)