X Financial director reports 90,000 share stake

X Financial director Wan Zheng has filed an initial ownership report showing holdings tied to the company’s Class A ordinary shares.

Rhea-AI Filing Summary

X Financial director Wan Zheng has filed an initial ownership report showing holdings tied to the company’s Class A ordinary shares. The filing lists 90,000 Class A ordinary shares, including shares represented by ADS, associated with restricted stock units (RSUs) as of 2026-03-18.

The RSUs reference 90,000 underlying Class A ordinary shares with a stated exercise price of $0.0000 per share and an expiration date of June 1, 2034. This Form 3 does not show any recent purchases or sales; it establishes Wan Zheng’s starting equity position as a director.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Wan Zheng

Role Director

Type	Security	Shares	Price	Value
holding	Restricted stock unit ("RSU")	--	--	--
holding	RSU	--	--	--
holding	Class A ordinary shares, including shares represented by ADS	--	--	--

Holdings After Transaction: Restricted stock unit ("RSU") — 90,000 contracts (Direct); RSU — 90,000 contracts (Direct); Class A ordinary shares, including shares represented by ADS — 90,000 shares (Direct)

Key Figures

Underlying RSU shares: 90,000 shares RSU exercise price: $0.0000 per share RSU expiration date: June 1, 2034 +1 more

4 metrics

Underlying RSU shares 90,000 shares Class A ordinary shares, including ADS, underlying RSUs

RSU exercise price $0.0000 per share Exercise price for RSUs reported as of March 18, 2026

RSU expiration date June 1, 2034 Expiration date for RSUs linked to Class A ordinary shares

Form 3 holdings entries 3 entries Three holding records with unknown transaction codes

Key Terms

Form 3, RSU, Class A ordinary shares, ADS

4 terms

Form 3 regulatory

"This Form 3 does not show any recent purchases or sales; it establishes Wan Zheng’s starting equity position."

Form 3 is the initial public filing that officers, directors and large shareholders must submit to report their ownership of a company’s securities when they become insiders. It acts like an opening inventory sheet that gives investors a starting point to see who holds significant stakes and to spot later trades or potential conflicts of interest, helping assess insider confidence and transparency.

RSU financial

"The filing links RSUs to 90,000 underlying Class A ordinary shares, including shares represented by ADS."

Restricted stock units (RSUs) are a form of company shares given to employees as part of their compensation, usually with certain restrictions or conditions, such as remaining with the company for a set period. When these restrictions lift, employees receive actual shares that they can sell or hold. For investors, RSUs can impact a company's stock supply and reflect the company's commitment to attracting and retaining talent.

Class A ordinary shares financial

"The filing lists 90,000 Class A ordinary shares, including shares represented by ADS, associated with restricted stock units."

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.

ADS financial

"The filing lists 90,000 Class A ordinary shares, including shares represented by ADS, associated with restricted stock units."

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Wan Zheng’s Form 3 filing for X Financial (XYF) show?

Wan Zheng’s Form 3 reports initial ownership tied to 90,000 X Financial Class A ordinary shares, including ADS. These shares are associated with RSUs and establish his starting equity position as a director as of March 18, 2026.

How many X Financial (XYF) shares are linked to Wan Zheng’s RSUs?

The filing links RSUs to 90,000 underlying X Financial Class A ordinary shares, including shares represented by ADS. This number appears both as total shares following the transaction and as underlying shares in the derivative summary.

Are there any buy or sell transactions in Wan Zheng’s X Financial Form 3?

The Form 3 shows no buy or sell transactions for Wan Zheng. All three entries are holding records, and the transaction summary reports zero buys, zero sells, and three unknown-code holding entries establishing his beneficial ownership position.

What are the key terms of Wan Zheng’s X Financial RSUs?

The RSUs have an exercise price of $0.0000 and reference 90,000 underlying Class A ordinary shares. The RSUs carry an expiration date of June 1, 2034, providing a long-term equity incentive linked to the company’s Class A ordinary shares and ADS.

When is the first exercise date for Wan Zheng’s X Financial RSUs?

One RSU entry lists a first exercise date of June 1, 2026, with an expiration on June 1, 2034. This indicates the RSUs begin to become exercisable in 2026 while remaining outstanding as an incentive through 2034, subject to grant terms.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/11/2026 - 06:12 AM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Wan Zheng

(Last) (First) (Middle)

NO.168 HAIDE THIRD AVENUE

NANSHAN DISTRICT

(Street)

SHENZHEN 518067

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
X Financial [ NYSE: XYF ]

3a. Foreign Trading Symbol

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

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

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

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)
Class A ordinary shares, including shares represented by ADS	90,000	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 stock unit ("RSU")	06/01/2026	06/01/2034	Class A ordinary shares, including shares represented by ADS	90,000	$0.00	D
RSU	06/01/2027	06/01/2034	Class A ordinary shares, including shares represented by ADS	90,000	$0.00	D

Explanation of Responses:

	/s/ Zheng Wan	05/11/2026
	** 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 5 (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 3: SEC 1473 (03-26)