RLX Technology (NYSE: RLX) co-founder Kate Wang details large indirect stakes
Rhea-AI Filing Summary
RLX Technology Inc. director and co-founder Ying (Kate) Wang filed an initial statement of beneficial ownership, detailing large indirect stakes and option awards. The filing shows 308,714,990 Class B ordinary shares held through Leo Valley Holding Limited, a British Virgin Islands company linked to The Alpha Trust for which Ms. Wang is settlor and enforcer.
It also discloses stock options over 11,973,460, 5,986,730 and 5,986,730 Class A ordinary shares at an exercise price of $0.1500 per share, expiring on September 30, 2030, all held indirectly via BJ BJ Limited. BJ BJ Limited holds 71,840,780 Class A ordinary shares for administering awards under the 2021 Plan, including 23,946,920 shares underlying Ms. Wang’s options.
The filing further notes Ms. Wang’s indirect voting rights over 412,501,527 Class A ordinary shares through Founders' Acting-In-Concert Undertakings, as well as additional voting rights over 71,840,780 Class A shares via BJ BJ Limited. No new buy or sell transactions are reported; this form establishes her existing positions and voting influence.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Class B ordinary shares | -- | -- | -- |
| holding | Voting rights of Class A ordinary shares | -- | -- | -- |
| holding | Voting rights of Class A ordinary shares | -- | -- | -- |
Footnotes (1)
- Represents 308,714,990 Class B ordinary shares held by Leo Valley Holding Limited, a British Virgin Islands company. Ms. Ying (Kate) Wang is the sole director of Leo Valley Holding Limited. Leo Valley Holding Limited is beneficially owned and controlled by Lion Valley Limited, a British Virgin Islands company. Lion Valley Limited is wholly owned by Zedra Trust Company (Cayman) Limited, on behalf of and for the benefit of The Alpha Trust as the trustee. Ms. Ying (Kate) Wang is the settlor and enforcer of The Alpha Trust, and Ms. Wang and her family members are the trust's beneficiaries. On October 19, 2022, RLX Technology Inc., Leo Valley Holding Limited and Ms. Ying (Kate) Wang entered into the Founders' Acting-In-Concert Undertakings with (i) Mr. Long (David) Jiang and Longtian Holding Limited, (ii) Mr. Yilong Wen and StarryInv Holding Limited, and (iii) certain minority shareholders of RLX Technology Inc. Pursuant to such undertakings, each of the foregoing parties agreed to act in concert with Leo Valley Holding Limited, and to take the same actions as Leo Valley Holding Limited, with respect to all matters requiring shareholder approval of RLX Technology Inc. Represents 23,946,920 Class A ordinary shares held by BJ BJ Limited for the purpose of administering share incentive awards under the 2021 Plan. For the avoidance of doubt, the 71,840,780 Class A ordinary shares held by BJ BJ Limited reported in Table I include 23,946,920 Class A shares underlying stock options held by Ms. Ying (Kate) Wang. These 23,946,920 shares are disclosed in Table II for informational purposes only and do not represent additional shares beyond the Table I.
