So-Young CMO granted 7,051 options at $0.01

Director and CMO Wang Bei received 7,051 fully vested performance-based options in So-Young International Inc. with a $0.01 exercise price expiring in 2035.

Rhea-AI Filing Summary

Wang Bei reported disposition transactions in a Form 4 filing for SY. The filing lists transactions totaling 7,051 shares at a weighted average price of $0.01 per share on September 7, 2026. Following the reported transactions, holdings were 7,051 shares.

Insider Trade Summary

Grant/Award: 7,051 shares

Grant/Award 1 txn

Insider Wang Bei

Role CMO

Type	Security	Shares	Price	Value
Grant/Award	Option (right to buy) F2, F1	7,051	$0.01	$70.51

Holdings After Transaction: Option (right to buy) — 7,051 contracts (Direct)

Footnotes (2)

1. F1. The Class A ordinary shares are held in the form of American depositary shares ("ADS"), 13 of which represent 10 class A ordinary shares of the issuer.
2. F2. The reporting person was granted 7,051 performance-based share options, which vested in full on September 7, 2026.

Key Figures

Options granted: 7,051 options Exercise price: $0.01 per Class A ordinary share Underlying Class A ordinary shares: 7,051 shares +3 more

6 metrics

Options granted 7,051 options Performance-based share options granted to Wang Bei on September 7, 2026

Exercise price $0.01 per Class A ordinary share Conversion or exercise price of the granted options

Underlying Class A ordinary shares 7,051 shares Each option relates to one Class A ordinary share

Options held after transaction 7,051 options Total derivative securities following the reported grant

ADS to share ratio 13 ADSs represent 10 Class A ordinary shares Representation of Class A ordinary shares in ADS form

Option expiration date December 31, 2035 Expiration of the granted performance-based options

Key Terms

performance-based share options, American depositary shares, Class A ordinary shares, exercise price

4 terms

performance-based share options financial

"The reporting person was granted 7,051 performance-based share options, which vested"

American depositary shares financial

"The Class A ordinary shares are held in the form of American depositary shares"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

Class A ordinary shares financial

"13 of which represent 10 class A ordinary shares of the issuer"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

exercise price financial

"conversion_or_exercise_price": "0.0100""

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

FAQ

What insider transaction did So-Young International Inc. (SY) report for Wang Bei?

So-Young International Inc. reported that CMO and director Wang Bei received a grant of 7,051 performance-based share options on September 7, 2026. The options vested in full on that date and are exercisable into Class A ordinary shares.

What is the exercise price of the options granted to Wang Bei at SY?

The options granted to Wang Bei carry an exercise price of $0.01 per Class A ordinary share. Each option is a right to buy one Class A ordinary share, subject to the ADS ratio disclosed.

When do Wang Bei’s options in So-Young International Inc. expire?

The performance-based share options granted to Wang Bei on So-Young International Inc. stock expire on December 31, 2035. They vested in full on September 7, 2026, giving the right to purchase Class A ordinary shares until that expiration date.

How many options does Wang Bei hold in SY after this Form 4 transaction?

After this grant, Wang Bei holds 7,051 options directly, as reported in the filing. The total shares following the transaction for this option award are 7,051, matching the number of options granted.

How are So-Young International Inc. Class A shares represented in ADS form?

The filing states that So-Young International Inc. Class A ordinary shares are held in the form of ADSs, where 13 ADSs represent 10 Class A ordinary shares. This ratio applies to the underlying shares for Wang Bei’s option grant.

Was Wang Bei’s So-Young (SY) option grant made under a Rule 10b5-1 plan?

No. The filing’s Rule 10b5-1 checkbox is not marked as an affirmative plan, and there is no footnote stating that the grant was made pursuant to a Rule 10b5-1 trading plan.

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Available on EDGAR 09/08/2026 - 06:21 AM Accepted by SEC EDGAR 09/08/2026 - 06:21 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^*

Wang Bei

(Last) (First) (Middle)

2/F, EAST TOWER, POLY PLAZA,

NO. 66 XIANGBIN ROAD, CHAOYANG DISTRICT

(Street)

BEIJING F4 100012

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
So-Young International Inc. [ SY ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/07/2026

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
Option (right to buy)	$0.01	09/07/2026		A			7,051	(2)	12/31/2035	Class A ordinary share, par value US$0.01(1)	7,051	$0.01	7,051(2)	D

Explanation of Responses:

1. The Class A ordinary shares are held in the form of American depositary shares ("ADS"), 13 of which represent 10 class A ordinary shares of the issuer.

2. The reporting person was granted 7,051 performance-based share options, which vested in full on September 7, 2026.

	/s/Bei Wang	09/08/2026
	** 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)