What was the nature of Li Yanna’s Top KingWin (WAI) share transaction?

The transaction was classified as a grant, award, or other acquisition, coded “A” on Form 4. It represents compensation in the form of shares rather than an open-market trade, aligning with her director letter agreement with Top KingWin Ltd.

What period of service does Li Yanna’s Top KingWin (WAI) share grant cover?

The share grant compensates Li Yanna for her service from October 1, 2025 to March 31, 2026. This timeframe is specified in the footnote describing the award under her director letter agreement with Top KingWin Ltd dated October 11, 2024.

[Form 4] Top KingWin Ltd Insider Trading Activity

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Li Yanna reported acquisition or exercise transactions in this Form 4 filing.

Top KingWin Ltd director Li Yanna received a grant of 21,622 Class A Ordinary Shares on May 8, 2026 at $2.22 per share. The shares were issued as part of her director compensation for the period from October 1, 2025 to March 31, 2026 under an existing letter agreement, bringing her direct holdings to 35,702 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Li Yanna

Role null

Type	Security	Shares	Price	Value
Grant/Award	Class A Ordinary Shares	21,622	$2.22	$48K

Holdings After Transaction: Class A Ordinary Shares — 35,702 shares (Direct, null)

Footnotes (1)

[object Object]

Key Figures

Shares granted: 21,622 shares Grant price: $2.22 per share Shares held after grant: 35,702 shares +2 more

5 metrics

Shares granted 21,622 shares Class A Ordinary Shares granted on May 8, 2026

Grant price $2.22 per share Transaction price per share for the equity award

Shares held after grant 35,702 shares Total direct Class A Ordinary Shares after transaction

Compensation period covered Oct 1, 2025 to Mar 31, 2026 Service period for which the shares were issued as compensation

Director agreement date October 11, 2024 Date of director letter agreement governing the share grant

Key Terms

Class A Ordinary Shares, Grant, award, or other acquisition, director letter agreement

3 terms

Class A Ordinary Shares financial

"The Reporting Person was issued such class A ordinary shares of Top KingWin Ltd."

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.

Grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

director letter agreement financial

"pursuant to her director letter agreement with the Company, dated October 11, 2024"

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Form 4 Insider Transactions: What Each Field Means →

06/18/2026 - 04:13 PM

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^*

Li Yanna

(Last)

(First)

(Middle)

ROOM 1304, BUILDING NO. 25, 555 N.PANYU

TIAN'AN HEADQUARTERS CENTER, DONGHUAN ST

(Street)

GUANGZHOU

511400

(City)

(State)

(Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Top KingWin Ltd [ WAI ]

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)
05/08/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Ordinary Shares	05/08/2026		A		21,622⁽¹⁾	A	$2.22	35,702	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The Reporting Person was issued such class A ordinary shares of Top KingWin Ltd. (the "Company"), as part of her compensation for the period from October 1, 2025 to March 31, 2026, pursuant to her director letter agreement with the Company, dated October 11, 2024.

	/s/ Yanna Li	06/18/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Top KingWin (WAI) director Li Yanna report?

Director Li Yanna reported receiving 21,622 Class A Ordinary Shares of Top KingWin Ltd. The shares were granted as part of her director compensation and are not an open-market purchase or sale, but an equity award from the company.

At what price were the Top KingWin (WAI) shares granted to Li Yanna?

The 21,622 Class A Ordinary Shares granted to Li Yanna were valued at $2.22 per share. This figure reflects the transaction price per share disclosed for the equity award reported in the Form 4 insider transaction filing.

How many Top KingWin (WAI) shares does Li Yanna hold after this grant?

After the grant, Li Yanna directly holds 35,702 Class A Ordinary Shares of Top KingWin Ltd. This total includes the newly awarded 21,622 shares received as part of her director compensation for the specified service period.

Is Li Yanna’s Top KingWin (WAI) transaction a buy or a compensation award?

The transaction is a compensation award, not an open-market buy. Form 4 identifies it as a grant or award acquisition, with shares issued by Top KingWin Ltd to director Li Yanna under her existing director compensation agreement.