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Wong Arthur Lap Tat reported acquisition or exercise transactions in this Form 4 filing.
Microvast Holdings director Arthur Lap Tat Wong received an equity award rather than buying shares on the market. He was granted 20,000 restricted stock units under the non-employee director compensation policy, each equal to one common share. These units vest on December 31, 2026, assuming he continues to serve through that date. After this grant, he holds 237,473 common shares directly.
Microvast Holdings, Inc. Chief Operating Officer Wu Shengxian reported multiple equity-based compensation awards. The latest Form 4 shows grants of common stock and cash-settled restricted and performance stock units tied to the value of Microvast common shares.
The filing also reports a prior grant of an employee stock option covering 1,000,000 shares of common stock at an exercise price of $1.2900 per share, vesting in three equal installments starting on November 8, 2025 and expiring on December 5, 2034. Following the most recent grant on March 13, 2026, Wu directly holds 233,799 shares of common stock.
Microvast Holdings, Inc. describes a battery-technology business with advanced lithium-ion products for commercial vehicles and energy storage, but under significant financial strain. The company reported a net loss of $29.2 million in 2025, an accumulated deficit of $1,122.2 million, and acknowledges substantial doubt about its ability to continue as a going concern.
As of December 31, 2025, Microvast had stockholders’ equity of $410.5 million, cash and cash equivalents of $105.0 million, restricted cash of $64.3 million, and bank borrowings of $106.3 million, most due within 12 months, plus other sizable liabilities and purchase and capital commitments. Management plans to rely on operating cash flow, equity sales and refinancing, but notes there is no assurance these plans will be sufficient.
Operationally, Microvast positions itself as a vertically integrated battery manufacturer with proprietary cathode, anode, electrolyte and separator technologies, including LTO, NMC, LFP and early all-solid-state developments. Manufacturing capacity is concentrated in Huzhou, China, with smaller facilities in Germany and Tennessee, where a partially built U.S. plant has been suspended and is affected by mechanics liens and supplier disputes.
Microvast Holdings reported full-year 2025 revenue of $427.5 million, up 12.6% from 2024, with gross margin of 28.6% after a $32.5 million energy storage inventory impairment. The GAAP net loss narrowed sharply to $29.2 million from $195.5 million, while non-GAAP adjusted net profit reached $13.0 million and non-GAAP adjusted EBITDA improved to $44.7 million from a $44.8 million loss in 2024.
In Q4 2025, revenue was $96.4 million, down 15.0% year over year, and gross margin fell to 1.0% due to $29.0 million of impairment charges. Q4 GAAP net profit was $16.5 million, but non-GAAP adjusted net loss was $34.5 million. Cash, cash equivalents and restricted cash rose to $169.2 million as of December 31, 2025, from $109.6 million a year earlier.
Management expects continued revenue growth in 2026, targets maintaining a strong gross margin position, and is focused on achieving serial production at the Huzhou Phase 3.2 expansion and starting pack line operations in Clarksville, Tennessee by year-end, while pursuing high-barrier segments across EMEA, North America and APAC.
Microvast Holdings, Inc. Chief Technology Officer Mattis Wenjuan acquired 112,500 shares of common stock on March 2, 2026 through a grant classified as a "grant, award, or other acquisition." These shares were earned from performance stock units that vested after achievement of performance conditions over the applicable period.
Following this equity award, Wenjuan directly owns 970,689 shares of Microvast common stock. The reported transaction carried a price per share of $0.0000, reflecting that it was compensation-based rather than an open-market purchase.
Ying Wei reported acquisition or exercise transactions in this Form 4 filing.
Microvast Holdings, Inc. director Ying Wei reported two equity awards of common stock in the form of restricted stock units granted under the company’s non-employee director compensation policy. These are compensation grants rather than open-market purchases or sales.
The first award covers 37,500 restricted stock units, each representing a right to receive one share of common stock, vesting on December 31, 2026, contingent on continued board service. The second award covers 30,357 restricted stock units, vesting in four equal installments on March 31, 2026, June 30, 2026, September 30, 2026, and December 31, 2026, also subject to continued service.
Wong Arthur Lap Tat reported acquisition or exercise transactions in this Form 4 filing.
Microvast Holdings director Arthur Lap Tat Wong received an equity grant in the form of restricted stock units. On January 1, 2026, he was awarded 37,500 restricted stock units of Microvast common stock at no cash cost to him, as part of the company’s non-employee director compensation policy.
Each unit represents the right to receive one share of common stock, but the award will only vest on December 31, 2026 if he continues serving as a director through that date. After this grant, he beneficially owns 217,473 shares of Microvast common stock directly.
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.
Microvast Holdings, Inc. received an amended Schedule 13G from a group of CDH-affiliated investment entities disclosing a significant ownership position in its common stock. CDH Griffin Holdings Company Limited and related vehicles report beneficial ownership of 37,073,227 shares, representing 11.3% of the outstanding common stock, based on 328,182,834 shares outstanding as disclosed in Microvast’s Form 10-Q filed on November 10, 2025.
Within this structure, Evergreen Ever Limited holds 28,597,614 shares (8.7%), Aurora Sheen Limited holds 5,220,347 shares (1.6%), and Hangzhou CDH New Trend Equity Investment Partnership holds 3,255,266 shares (1.0%). Voting and dispositive power are exercised through CDH-controlled general partners and investment committees, with CDH Griffin as the ultimate parent entity.
Microvast Holdings Chief Financial Officer Rodney Worthen reported a mix of stock grants and an automatic tax-related sale of company shares. On August 10, 2025 he received 15,000 restricted stock units (RSUs) that vest in three equal installments on August 10, 2026, 2027 and 2028. On November 25, 2025 he sold 2,671 common shares at $3.48 each in an automatic “sell to cover” transaction to satisfy tax withholding tied to RSU settlement, described as not a discretionary trade. On January 9, 2026 he received an additional 85,714 RSUs, vesting in equal installments on January 9, 2027, 2028 and 2029. Following these transactions, he held 117,422 shares of Microvast common stock directly.