Niu Technologies grants Mei Wei Cheng 80K stock units

A separate 80,000-RSU award is scheduled to vest in two 40,000-RSU installments on October 19, 2027 and October 19, 2028.

Rhea-AI Filing Summary

Niu Technologies director Mei Wei Cheng had 40,000 restricted share units (RSUs) vest on October 19, 2026, receiving 20,000 American depositary shares (ADSs), each representing two Class A ordinary shares. Cheng also received an award of 80,000 RSUs on that date, scheduled to vest in two equal 40,000-RSU installments on October 19, 2027 and October 19, 2028. No Rule 10b5-1 plan is reported.

Insider Trade Summary

40,000 shares exercised/converted

Exercise 3 txns

Insider CHENG MEI WEI

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted share units F3, F4	40,000	$0.00	$0.00
Grant/Award	Restricted share units F3, F5	80,000	$0.00	$0.00
Exercise	American depositary shares F1, F2, F3	20,000	--	--

Holdings After Transaction: Restricted share units — 80,000 contracts (Direct); American depositary shares — 40,000 shares (Direct)

Footnotes (5)

1. F1. Each American depositary share ("ADS") represents two (2) Class A ordinary shares, with a par value of US$0.0001 per share, of Niu Technologies (the "Company").
2. F2. Represent 40,000 Class A ordinary shares of the Company received in the form of ADSs upon vesting of the 40,000 restricted share units ("RSUs") granted to the reporting person on October 19, 2024. See footnote 4.
3. F3. Each RSU represents the contingent right to receive one (1) Class A ordinary share of the Company upon vesting.
4. F4. The 40,000 RSUs were granted to the reporting person pursuant to the Company's 2018 Share Incentive Plan (the "2018 Plan") on October 19, 2024, and vested on October 19, 2026.
5. F5. The 80,000 RSUs were granted to the reporting person pursuant to the 2018 Plan on October 19, 2026, and will vest in two equal annual installments of 40,000 RSUs each on October 19, 2027 and October 19, 2028, respectively.

Key Figures

RSUs vested: 40,000 RSUs ADSs received: 20,000 ADSs RSUs granted: 80,000 RSUs +2 more

5 metrics

RSUs vested 40,000 RSUs Vested October 19, 2026

ADSs received 20,000 ADSs Received upon vesting of 40,000 RSUs

RSUs granted 80,000 RSUs Granted October 19, 2026

Annual vesting installment 40,000 RSUs Installments scheduled for October 19, 2027 and October 19, 2028

Class A ordinary shares per ADS Two Class A ordinary shares per ADS ADS ratio

Key Terms

restricted share units, American depositary share, vesting, 2018 Share Incentive Plan

4 terms

restricted share units financial

"40,000 restricted share units ("RSUs")"

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.

American depositary share financial

"Each American depositary share ("ADS") represents two"

An American Depositary Share (ADS) is a U.S.-listed certificate that represents a specified number of shares in a foreign company, held by a custodian bank; it works like a receipt that allows U.S. investors to buy and trade foreign equity on American exchanges without dealing with another country’s markets. Investors care because ADSs make foreign stocks easier to access, improve liquidity and settlement in dollars, and can affect dividend payments, voting rights and regulatory oversight compared with buying the underlying foreign shares directly.

vesting financial

"vested on October 19, 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.

2018 Share Incentive Plan financial

"pursuant to the Company's 2018 Share Incentive Plan"

FAQ

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

How many NIU RSUs vested for director Mei Wei Cheng?

Mei Wei Cheng's 40,000 RSUs vested on October 19, 2026, and she received 20,000 ADSs, each representing two Class A ordinary shares.

Under which plan were Mei Wei Cheng's NIU RSUs granted?

Both awards were granted under Niu Technologies' 2018 Share Incentive Plan.

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

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Available on EDGAR 10/20/2026 - 06:24 AM EDT Accepted by SEC EDGAR 10/20/2026 - 06:24 AM EDT 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^*

CHENG MEI WEI

(Last) (First) (Middle)

1202, BUILDING 10, GREEN COURT

777 BIYUN ROAD, PUDONG

(Street)

SHANGHAI F4 201206

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Niu Technologies [ NIU ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/19/2026

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
American depositary shares(1)	10/19/2026		M		20,000(2)	A	(3)	40,000	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	(3)	10/19/2026		M			40,000	(4)	(4)	Class A ordinary shares	40,000	$0	0	D
Restricted share units	(3)	10/19/2026		A		80,000		(5)	(5)	Class A ordinary shares	80,000	$0	80,000	D

Explanation of Responses:

1. Each American depositary share ("ADS") represents two (2) Class A ordinary shares, with a par value of US$0.0001 per share, of Niu Technologies (the "Company").

2. Represent 40,000 Class A ordinary shares of the Company received in the form of ADSs upon vesting of the 40,000 restricted share units ("RSUs") granted to the reporting person on October 19, 2024. See footnote 4.

3. Each RSU represents the contingent right to receive one (1) Class A ordinary share of the Company upon vesting.

4. The 40,000 RSUs were granted to the reporting person pursuant to the Company's 2018 Share Incentive Plan (the "2018 Plan") on October 19, 2024, and vested on October 19, 2026.

5. The 80,000 RSUs were granted to the reporting person pursuant to the 2018 Plan on October 19, 2026, and will vest in two equal annual installments of 40,000 RSUs each on October 19, 2027 and October 19, 2028, respectively.

	/s/ Mei-Wei Cheng	10/20/2026
	** 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)