uCloudlink (UCL) CEO details options, RSUs and Class B stake
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
uCloudlink Group Inc. director and Chief Executive Officer Chen Chaohui discloses his equity holdings in the company. He reports direct holdings of Class A ordinary shares, American depositary shares and multiple share option awards. The options include rights to buy 285,000 Class A ordinary shares at an exercise price of $0.5000 per share expiring on April 27, 2027, and 237,500 underlying Class A ordinary shares at the same price expiring on April 27, 2028, with additional option grants expiring through 2031.
Chen is also shown as having indirect ownership of 61,346,560 Class B ordinary shares through MediaPlay Limited. Each Class A ordinary share carries one vote, while each Class B ordinary share carries 15 votes and is convertible into one Class A ordinary share. The filing further details remaining unvested restricted share units granted between 2022 and 2026 that will vest in tranches between 2026 and 2030, each RSU representing one Class A ordinary share upon vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
15 transactions reported
Mixed
15 txns
Insider
Chen Chaohui
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Share Option (right to buy) | -- | -- | -- |
| holding | Share Option (right to buy) | -- | -- | -- |
| holding | Share Option (right to buy) | -- | -- | -- |
| holding | Share Option (right to buy) | -- | -- | -- |
| holding | Share Option (right to buy) | -- | -- | -- |
| holding | Class A ordinary shares | -- | -- | -- |
| holding | Class B ordinary shares | -- | -- | -- |
| holding | American depositary shares | -- | -- | -- |
| holding | Class A ordinary shares | -- | -- | -- |
| holding | Class A ordinary shares | -- | -- | -- |
| holding | Class A ordinary shares | -- | -- | -- |
| holding | Class A ordinary shares | -- | -- | -- |
| holding | Class A ordinary shares | -- | -- | -- |
| holding | Class A ordinary shares | -- | -- | -- |
| holding | Class A ordinary shares | -- | -- | -- |
Holdings After Transaction:
Share Option (right to buy) — 285,000 shares (Direct);
Class A ordinary shares — 2,994,710 shares (Direct);
Class B ordinary shares — 61,346,560 shares (Indirect, By MediaPlay Limited);
American depositary shares — 371,005 shares (Direct)
Footnotes (1)
- Each holder of Class A ordinary shares of uCloudlink Group Inc. (the "Company") is entitled to one vote per share and each holder of Class B ordinary shares of the Company is entitled to 15 votes per share on all matters submitted to them for a vote. Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis, whereas Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. MediaPlay Limited is wholly owned by Brilliant Topaz Holding Limited. Brilliant Topaz Holding Limited is wholly owned by Chen Family Evergreen Trust, a trust established for the benefit of Mr. Chaohui Chen and his family. Mr. Chaohui Chen is the settlor and investment advisor of Chen Family Evergreen Trust, and has the power to direct the disposition and voting of the shares of the Issuer held by Chen Family Evergreen Trust. Each American depositary share ("ADS") of the Company represents 10 Class A ordinary shares. This represents the remaining unvested restricted share units ("RSUs") granted to the reporting person on August 30, 2022 pursuant to the Company's share incentive plans. Each RSU represents a contingent right to receive one Class A common share upon vesting. 120,000 RSUs will vest on each of August 30, 2026 and 2027. This represents the remaining unvested RSUs granted to the reporting person on January 1, 2023 pursuant to the Company's share incentive plans. Each RSU represents a contingent right to receive one Class A common share upon vesting. 21,560 RSUs will vest on January 31, 2027. This represents the remaining unvested RSUs granted to the reporting person on May 31, 2023 pursuant to the Company's share incentive plans. Each RSU represents a contingent right to receive one Class A common share upon vesting. 100,000 RSUs will vest on each of May 31, 2026, 2027 and 2028. This represents the remaining unvested RSUs granted to the reporting person on May 31, 2024 pursuant to the Company's share incentive plans. Each RSU represents a contingent right to receive one Class A common share upon vesting. 200,000 RSUs will vest on May 31, 2026. 100,000 RSUs will vest on each of May 31, 2027, 2028 and 2029. This represents the remaining unvested RSUs granted to the reporting person on January 31, 2025 pursuant to the Company's share incentive plans. Each RSU represents a contingent right to receive one Class A common share upon vesting. 56,260 RSUs will vest on May 31, 2026. 28,120 RSUs will vest on each of May 31, 2027 and 2028. 28,180 RSUs will vest on May 31, 2029. This represents the remaining unvested RSUs granted to the reporting person on May 31, 2025 pursuant to the Company's share incentive plans. Each RSU represents a contingent right to receive one Class A common share upon vesting. 500,000 RSUs will vest on May 31, 2026. 200,000 RSUs will vest on May 31, 2027. 100,000 RSUs will vest on each of May 31, 2028, 2029 and 2030. This represents the remaining unvested RSUs granted to the reporting person on January 31, 2026 pursuant to the Company's share incentive plans. Each RSU represents a contingent right to receive one Class A common share upon vesting. 171,820 RSUs will vest on May 31, 2026. 68,720 RSUs will vest on May 31, 2027. 34,360 RSUs will vest on each of May 31, 2028 and 2029. 34,380 RSUs will vest on May 31, 2030. The share option has fully vested and is exercisable as of the date of this form.
FAQ
What does uCloudlink (UCL) CEO Chen Chaohui report owning in this Form 3?
Chen Chaohui reports direct holdings of Class A ordinary shares, American depositary shares, and several share option grants, plus indirect ownership of Class B ordinary shares through MediaPlay Limited. The filing also lists multiple unvested restricted share unit awards scheduled to vest between 2026 and 2030.