Microvast (MVST) director granted 37,500 RSUs in equity award

Rhea-AI Filing Summary

Microvast Holdings director Pan Yixin received an equity grant of 37,500 restricted stock units on January 1, 2026. The award was made under the company’s non-employee director compensation policy and carries no cash exercise price.

Each restricted stock unit represents a right to receive one share of Microvast common stock, vesting on December 31, 2026, contingent on continued board service through that date. Following this grant, Pan is reported as beneficially owning 168,239 shares of common stock in total, held directly.

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

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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^*

Pan Yixin

(Last) (First) (Middle)

12603 SOUTHWEST FREEWAY, SUITE 300

(Street)

STAFFORD TX 77477

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Microvast Holdings, Inc. [ MVST ]

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

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

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

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

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

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

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	01/01/2026		A		37,500	A	(1)	168,239	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

Explanation of Responses:

1. Represents restricted stock units granted to the Reporting Person in accordance with the Issuer's non-employee director compensation policy. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock. The restricted stock units vest on December 31, 2026, subject to the Reporting Person's continued service through such date.

	/s/ Yixin Pan	02/17/2026
	** 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.

FAQ

What did Microvast (MVST) director Pan Yixin report in this Form 4 filing?

Pan Yixin reported receiving 37,500 restricted stock units in Microvast common stock. The grant was made under the non-employee director compensation policy and recorded as an acquisition, increasing Pan’s directly held beneficial ownership to 168,239 shares after the transaction.

How many Microvast (MVST) shares does director Pan Yixin own after the reported grant?

After the reported equity grant, Pan Yixin is shown as beneficially owning 168,239 shares of Microvast common stock. This figure reflects the addition of 37,500 restricted stock units awarded on January 1, 2026, and is listed as directly held ownership in the filing.

What are the terms of the 37,500 restricted stock units granted to Microvast (MVST) director Pan Yixin?

The 37,500 restricted stock units each represent a contingent right to receive one Microvast common share. These units vest on December 31, 2026, provided Pan Yixin continues board service through that date, aligning the director’s compensation with long-term company performance.

Was cash paid for the shares in Microvast (MVST) director Pan Yixin’s Form 4 transaction?

No cash was paid for the reported shares; the acquisition price per share is listed as 0.0000. The transaction reflects a grant or award of equity compensation, not an open-market purchase, under Microvast’s non-employee director compensation policy.

When do the newly granted restricted stock units for Microvast (MVST) director Pan Yixin vest?

The restricted stock units vest on December 31, 2026, subject to continued service. If Pan Yixin remains a director through that date, each of the 37,500 units converts into one share of Microvast common stock, according to the terms disclosed in the filing footnote.