X Financial director converts 90,000 RSUs to shares

X Financial director Wan Zheng reported a share conversion involving restricted stock units.

Rhea-AI Filing Summary

X Financial director Wan Zheng reported a share conversion involving restricted stock units. On the reported date, a derivative security was converted into 90,000 Class A ordinary shares, including shares represented by ADS, at $0.00 per share, classified as a derivative conversion.

Following this transaction, Wan Zheng directly owned 180,000 Class A ordinary shares, including shares represented by ADS. In addition, a restricted stock unit position remained outstanding, linked to 90,000 underlying Class A ordinary shares with an expiration date in 2034.

Insights

Equity compensation analyst

Routine equity award conversion increases reported direct share holdings.

The filing shows Wan Zheng converting a derivative security into 90,000 Class A ordinary shares at $0.00 per share, classified as a conversion of derivative security. This is typical of restricted stock units settling into common shares.

After the conversion on June 1, 2026, direct holdings rose to 180,000 Class A ordinary shares, while a restricted stock unit position tied to 90,000 underlying shares remained outstanding and expires in 2034. The transaction reflects compensation-related equity mechanics rather than an open-market trade.

Insider Trade Summary

Conversion: 90,000 shares

Conversion 2 txns

Insider Wan Zheng

Role Director

Type	Security	Shares	Price	Value
Conversion	Class A ordinary shares, including shares represented by ADS	90,000	$0.00	$0.00
holding	Restricted stock unit	--	--	--

Holdings After Transaction: Class A ordinary shares, including shares represented by ADS — 180,000 shares (Direct); Restricted stock unit — 90,000 contracts (Direct)

Key Figures

Shares converted: 90,000 shares Conversion price: $0.00 per share Direct holdings after transaction: 180,000 shares +2 more

5 metrics

Shares converted 90,000 shares Class A ordinary shares, including ADS, from derivative conversion

Conversion price $0.00 per share Price for derivative conversion into Class A ordinary shares

Direct holdings after transaction 180,000 shares Class A ordinary shares, including ADS, held directly

Underlying shares for RSUs 90,000 shares Underlying Class A ordinary shares for restricted stock units

RSU expiration date June 1, 2034 Expiration date of restricted stock unit position

Key Terms

Restricted stock unit, Class A ordinary shares, including shares represented by ADS, Conversion of derivative security

3 terms

Restricted stock unit financial

"The filing shows Wan Zheng converting a derivative security into 90,000 Class A ordinary shares"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

Class A ordinary shares, including shares represented by ADS financial

"converted into 90,000 Class A ordinary shares, including shares represented by ADS"

Conversion of derivative security financial

"classified as a derivative conversion described as Conversion of derivative security"

FAQ

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

What insider transaction did X Financial (XYF) director Wan Zheng report?

Wan Zheng reported converting a derivative security into 90,000 Class A ordinary shares, including shares represented by ADS, at $0.00 per share. The transaction is classified as a conversion of a derivative security rather than an open-market purchase or sale.

How many X Financial (XYF) shares does Wan Zheng hold after this Form 4?

After the reported transaction, Wan Zheng directly holds 180,000 Class A ordinary shares, including shares represented by ADS. This balance reflects the addition of 90,000 shares from the conversion of a derivative security recorded in the Form 4 filing.

What type of derivative security was involved in Wan Zheng’s X Financial (XYF) filing?

The derivative security is a restricted stock unit linked to Class A ordinary shares, including ADS. It carries an exercise price of $0.00 and is associated with 90,000 underlying shares, with an expiration date in 2034 according to the filing data.

Was the X Financial (XYF) Form 4 transaction an open-market buy or sell?

No, the Form 4 classifies the transaction as a conversion of a derivative security, not an open-market buy or sell. The reporting shows restricted stock units converting into 90,000 Class A ordinary shares at $0.00 per share as part of equity compensation mechanics.

What remains of Wan Zheng’s derivative holdings in X Financial (XYF)?

The derivative summary shows a restricted stock unit position tied to 90,000 underlying Class A ordinary shares, including ADS, with a $0.00 exercise price. This RSU position has an expiration date in 2034 and is held as a direct ownership-type derivative position.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 06/02/2026 - 06:02 AM Learn about SEC filing dates

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^*

Wan Zheng

(Last) (First) (Middle)

NO.168 HAIDE THIRD AVENUE,

NANSHAN DISTRICT

(Street)

SHENZHEN 518067

(City) (State) (Zip)

CHINA

(Country)

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

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)
06/01/2026

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, including shares represented by ADS	06/01/2026		C		90,000	A	$0	180,000	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
Restricted stock unit	$0							06/01/2027	06/01/2034	Class A ordinary shares, including shares represented by ADS	90,000		90,000	D

Explanation of Responses:

	/s/ Zheng Wan	06/02/2026
	** 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)