Metalpha grants operations chief 5,000 share units

Each unit represents a contingent right to one ordinary share, and vesting is subject to continued service through the applicable dates.

Rhea-AI Filing Summary

Metalpha Technology Holding Ltd (MATH) granted 5,000 restricted share units (RSUs) to Xiaosi Zhang, its Chief Operating Officer, on September 28, 2026. Each RSU represents a contingent right to receive one ordinary share, without additional consideration paid by Zhang. The RSUs vest in four equal installments on the day following each anniversary of the grant date, beginning September 29, 2027, and vest in full on September 29, 2030, subject to his continued service.

Insider Trade Summary

Grant/Award: 5,000 shares

Grant/Award 1 txn

Insider Zhang Xiaosi

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units F1	5,000	$0.00	$0.00

Holdings After Transaction: Restricted Share Units — 5,000 contracts (Direct)

Footnotes (1)

1. F1. Represents 5,000 restricted share units ("RSUs") granted to the Reporting Person on September 28, 2026 under the Company's Amended and Restated 2024 Share Incentive Plan, without additional consideration paid by the Reporting Person. 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 September 29, 2027 and vesting in full on September 29, 2030, subject to the Reporting Person's continued service to the Issuer.

Key Figures

RSUs granted: 5,000 RSUs Ordinary shares represented: 5,000 ordinary shares Shares per RSU: 1 ordinary share +2 more

5 metrics

RSUs granted 5,000 RSUs Granted September 28, 2026

Ordinary shares represented 5,000 ordinary shares Each RSU represents a contingent right to receive one ordinary share

Shares per RSU 1 ordinary share Contingent right represented by each RSU

Vesting installments 4 equal installments Beginning September 29, 2027

Full vesting date September 29, 2030 Subject to continued service

Key Terms

restricted share units, contingent right, Amended and Restated 2024 Share Incentive Plan

3 terms

restricted share units financial

"5,000 restricted share units ("RSUs") granted"

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.

contingent right financial

"Each RSU represents a contingent right to receive one Ordinary Share"

Amended and Restated 2024 Share Incentive Plan financial

"under the Company's Amended and Restated 2024 Share Incentive Plan"

FAQ

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

How many MATH RSUs did Xiaosi Zhang receive?

Xiaosi Zhang, Metalpha Technology Holding Ltd's Chief Operating Officer, was granted 5,000 RSUs on September 28, 2026; each represents a contingent right to receive one ordinary share.

When do Xiaosi Zhang's MATH RSUs vest?

The 5,000 RSUs vest in four equal installments on the day following each anniversary of the September 28, 2026 grant date, beginning September 29, 2027, and vest in full on September 29, 2030, subject to continued service.

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

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Available on EDGAR 09/29/2026 - 09:25 AM Accepted by SEC EDGAR 09/29/2026 - 09:25 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^*

Zhang Xiaosi

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/28/2026

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
Restricted Share Units(1)	$0.00	09/28/2026		A		5,000		09/29/2027	09/29/2030	Ordinary Shares	5,000	$0	5,000	D

Explanation of Responses:

1. Represents 5,000 restricted share units ("RSUs") granted to the Reporting Person on September 28, 2026 under the Company's Amended and Restated 2024 Share Incentive Plan, without additional consideration paid by the Reporting Person. 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 September 29, 2027 and vesting in full on September 29, 2030, subject to the Reporting Person's continued service to the Issuer.

	/s/ Xiaosi Zhang	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)