Top KingWin (WAI) executive director receives 13,514-share equity grant

Rhea-AI Filing Summary

Mao Dongliang reported acquisition or exercise transactions in this Form 4 filing.

Top KingWin Ltd executive director Mao Dongliang received a grant of 13,514 Class A Ordinary Shares as equity compensation. The shares were valued at $2.22 per share and were issued as part of his compensation for the period from October 1, 2025 to March 31, 2026 under an employment agreement dated May 31, 2025. Following this award, he directly holds 22,315 Class A Ordinary Shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Mao Dongliang

Role Executive Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Ordinary Shares	13,514	$2.22	$30K

Holdings After Transaction: Class A Ordinary Shares — 22,315 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Equity grant size: 13,514 shares Grant value per share: $2.22 per share Shares held after grant: 22,315 shares

3 metrics

Equity grant size 13,514 shares Class A Ordinary Shares granted on May 8, 2026

Grant value per share $2.22 per share Reported value for the compensation award

Shares held after grant 22,315 shares Direct holdings following the Form 4 transaction

Key Terms

Class A Ordinary Shares, grant/award acquisition, employment 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 acquisition financial

"transaction_action: "grant/award acquisition" with code A for the shares"

employment agreement financial

"pursuant to his employment agreement with the Company, dated May 31, 2025"

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Form 4 Insider Transactions: What Each Field Means →

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^*

Mao Dongliang

(Last) (First) (Middle)

ROOM 1304, BUILDING 25, 555 N.PANYU AVE.

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
X	Officer (give title below)		Other (specify below)
	Executive Director

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)
			Code	V	Amount	(A) or (D)	Price
Class A Ordinary Shares	05/08/2026		A		13,514(1)	A	$2.22	22,315	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

Explanation of Responses:

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

	/s/ Dongliang Mao	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)

FAQ

What insider transaction did Top KingWin (WAI) report for Mao Dongliang?

Top KingWin reported that executive director Mao Dongliang received 13,514 Class A Ordinary Shares as an equity grant. The award was part of his compensation package, not an open-market purchase or sale, and increased his direct holdings to 22,315 shares.

At what price were Mao Dongliang’s Top KingWin (WAI) shares granted?

The 13,514 Class A Ordinary Shares granted to Mao Dongliang were valued at $2.22 per share. This value is used for reporting the compensation grant and does not indicate a market trade, since the shares were issued as part of his pay package.

How many Top KingWin (WAI) shares does Mao Dongliang hold after this grant?

After the equity compensation grant, Mao Dongliang directly holds 22,315 Class A Ordinary Shares of Top KingWin. This total reflects the newly awarded 13,514 shares added to his prior holdings, as disclosed in the insider ownership section of the Form 4 filing.

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

The 13,514-share grant covers compensation for the period from October 1, 2025 to March 31, 2026. The equity award was issued pursuant to Mao Dongliang’s employment agreement with Top KingWin dated May 31, 2025, aligning his pay with that service window.

Is Mao Dongliang’s Top KingWin (WAI) share grant a market purchase?

No, the transaction is a compensation-related grant, not a market purchase. The Form 4 uses transaction code “A” for a grant or award, and the footnote explains the shares were issued under his employment agreement for a defined compensation period.