Xunlei (NASDAQ: XNET) director details RSU and ADS stakes

Rhea-AI Filing Summary

Xunlei Ltd director Li Xiaosong filed an initial ownership report showing equity interests in the company. The filing lists restricted share units tied to 260,000 underlying ADS and an additional RSU award tied to 33,333 underlying ADS, plus direct ownership of 66,667 ADS. Footnotes explain that one RSU grant dated August 6, 2025 will vest in tranches in 2026, 2027 and 2028, while another grant dated January 1, 2024 will vest 33,333 ADS on January 1, 2027. Each RSU or ADS represents five Class A common shares of Xunlei.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Li Xiaosong

(Last) (First) (Middle)

21F, 3709 BAISHI ROAD

(Street)

SHENZHEN F4

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
Xunlei Ltd [ XNET ]

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

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

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
American Depository Shares ("ADS")	66,667	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Unit ("RSU")	(1)	(1)	ADS	260,000	(2)	D
Restricted Share Unit ("RSU")	(3)	(3)	ADS	33,333	(2)	D

Explanation of Responses:

1. These restricted share units("RSU") were granted on August 6, 2025 and will vest 86,666 ADSs, 86,6667 ADSs and 86,667 ADSs on August 6, 2026, August 6,2027 and August 6, 2028 respectively.

2. Each RSU/ADS represents five class A common shares of the Issuer.

3. These restricted share units("RSU") were granted on January 1, 2024 and will vest 33,333 ADSs in January 1, 2027.

	/s/ Xiaosong Li	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What does Xunlei (XNET) director Li Xiaosong report owning in this Form 3?

The director reports restricted share units linked to 260,000 underlying ADS, another RSU grant linked to 33,333 underlying ADS, and direct ownership of 66,667 ADS. This establishes his initial disclosed equity position in Xunlei Ltd as a company insider.

How many Xunlei (XNET) ADS are covered by Li Xiaosong’s RSU awards?

The RSU awards cover 260,000 underlying ADS in one grant and 33,333 underlying ADS in another. These units give the director a substantial equity-based interest that will convert into ADS as vesting conditions are satisfied over future years.

What is the vesting schedule for Li Xiaosong’s 2025 RSU grant at Xunlei (XNET)?

The 2025 RSU grant was awarded on August 6, 2025 and is scheduled to vest in three installments on August 6, 2026, August 6, 2027 and August 6, 2028. This structure ties the director’s compensation to multi‑year service with the company.

When do the 2024 RSUs reported by Xunlei (XNET) director Li Xiaosong vest?

RSUs granted on January 1, 2024 will vest 33,333 ADS on January 1, 2027. This single vesting date aligns a portion of the director’s equity compensation with a specific long‑term milestone roughly three years after the original grant date.

How are Xunlei (XNET) RSUs and ADS linked to Class A common shares?

Each RSU or ADS reported in the filing represents five Class A common shares of Xunlei. This means the director’s economic exposure is a multiple of the ADS counts, because every American Depositary Share corresponds to several underlying ordinary shares.

Does this Xunlei (XNET) Form 3 show any insider buying or selling activity?

The Form 3 lists existing holdings and RSU awards but does not show any explicit buy or sell transactions. It serves as an initial statement of beneficial ownership when the director becomes subject to insider reporting requirements at Xunlei Ltd.