Yuanbao grants CPO Sun 90K options, 90K RSUs

Yuanbao Inc.’s Chief Product Officer received option and RSU grants, plus ADS delivery and tax withholding tied to RSU vesting on September 16, 2026.

Rhea-AI Filing Summary

Yuanbao Inc. (YB) reported that director and Chief Product Officer Sun Shuli received equity awards and had prior awards vest on September 16, 2026. Sun was granted 90,000 options to buy Class A ordinary shares at an exercise price of $2.00 per share, expiring September 16, 2036.

On the same date, Sun was granted 90,000 restricted share units, and 27,000 Class A ordinary shares vested and were delivered as 4,500 American Depositary Shares (ADSs). Of these, 822 ADSs were withheld to satisfy tax withholding obligations based on a closing price of $12.44 per ADS.

Insider Trade Summary

31,500 shares exercised/converted

Exercise 5 txns

Insider Sun Shuli

Role Chief Product Officer

Type	Security	Shares	Price	Value
Grant/Award	Options (Right to Buy) F1	90,000	$0.00	$0.00
Grant/Award	Restricted Share Units F2	90,000	$0.00	$0.00
Exercise	Restricted Share Units F2, F3	27,000	$0.00	$0.00
Exercise	American Depositary Shares F3	4,500	$0.00	$0.00
Tax Withholding	American Depositary Shares F3, F4	822	$12.44	$10K

Holdings After Transaction: Options (Right to Buy) — 90,000 contracts (Direct); Restricted Share Units — 153,000 contracts (Direct); American Depositary Shares — 3,678 contracts (Direct)

Footnotes (4)

1. F1. The options are expected to vest in four equal installments of 25% of the total grant on each of September 16, 2027, September 16, 2028, September 16, 2029 and September 16, 2030. Each Option entitles the holder to purchase one share of the Issuer's Class A ordinary share upon exercising.
2. F2. These restricted share units (the "RSUs") are expected to vest in eight installments of 30%, 15%, 15%, 10%, 10%, 10%, 5% and 5% of the total grant on each of September 16, 2026 (the "Vesting"), December 16, 2026, March 16, 2027, June 16, 2027, September 16, 2027, December 16, 2027, March 16, 2028 and June 16, 2028, respectively. Each RSU represents a contingent right to receive one share of the Issuer's Class A ordinary share upon vesting. The restricted share units do not have expiration dates.
3. F3. Represents American Depositary Share ("ADS") acquired upon the Vesting. Each ADS is convertible at any time, at the holder's election, into six (6) Class A Ordinary Shares, with a par value of US$0.0001 per share, of Yuanbao Inc. The ADSs have no expiration date.
4. F4. Represents ADSs withheld to satisfy applicable tax withholding obligations in connection with the Vesting. The number of ADSs reported as withheld is estimated based on the closing price of the Company's ADSs of US$12.44 on September 16, 2026, and will be revised by amendment, if necessary, to reflect the actual number of ADSs withheld.

Key Figures

Options granted: 90,000 options Option exercise price: $2.00 per share Option expiration date: September 16, 2036 +5 more

8 metrics

Options granted 90,000 options Options to buy Class A ordinary shares granted on September 16, 2026

Option exercise price $2.00 per share Exercise price for 90,000 options granted to Sun Shuli

Option expiration date September 16, 2036 Expiration for the 90,000 options

RSUs granted 90,000 RSUs Restricted share units granted on September 16, 2026

Initial RSU vesting tranche 30% of 90,000 RSUs First vesting on September 16, 2026

Shares delivered on vesting 27,000 Class A shares Underlying shares for vested RSUs converted into ADSs

ADSs acquired on vesting 4,500 ADSs ADSs acquired upon RSU vesting on September 16, 2026

ADSs withheld for taxes 822 ADSs at $12.44 ADSs withheld to satisfy tax obligations based on closing price

Key Terms

Restricted Share Units, American Depositary Share, vesting, exercise price, +1 more

5 terms

Restricted Share Units financial

"These restricted share units (the "RSUs") are expected to vest in eight"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

American Depositary Share financial

"Represents American Depositary Share ("ADS") acquired upon the Vesting."

An American Depositary Share (ADS) is a U.S.-listed certificate that represents a specified number of shares in a foreign company, held by a custodian bank; it works like a receipt that allows U.S. investors to buy and trade foreign equity on American exchanges without dealing with another country’s markets. Investors care because ADSs make foreign stocks easier to access, improve liquidity and settlement in dollars, and can affect dividend payments, voting rights and regulatory oversight compared with buying the underlying foreign shares directly.

vesting financial

"are expected to vest in eight installments of 30%, 15%, 15%, 10%"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

exercise price financial

"The options are expected to vest in four equal installments of 25%"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

tax withholding obligations financial

"Represents ADSs withheld to satisfy applicable tax withholding obligations"

FAQ

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

What equity awards did Yuanbao Inc. (YB) grant to Sun Shuli on September 16, 2026?

Yuanbao Inc. granted 90,000 options with a $2.00 exercise price and 90,000 restricted share units to director and Chief Product Officer Sun Shuli on September 16, 2026.

How do the new options for Sun Shuli at YB vest and when do they expire?

The 90,000 options are expected to vest in four equal 25% installments on September 16 in 2027, 2028, 2029 and 2030, and they expire on September 16, 2036.

What is the vesting schedule for the 90,000 RSUs granted by YB to Sun Shuli?

The 90,000 RSUs are expected to vest in eight installments of 30%, 15%, 15%, 10%, 10%, 10%, 5% and 5% on September 16, 2026; December 16, 2026; March 16, 2027; June 16, 2027; September 16, 2027; December 16, 2027; March 16, 2028; and June 16, 2028.

How many Yuanbao Inc. shares and ADSs did Sun Shuli receive from RSU vesting?

Upon vesting on September 16, 2026, 27,000 Class A ordinary shares were delivered as 4,500 American Depositary Shares (ADSs), with each ADS representing 6 Class A ordinary shares.

How many YB ADSs were withheld for taxes and at what price?

In connection with the vesting, 822 ADSs were withheld to satisfy tax withholding obligations, based on the closing price of $12.44 per ADS on September 16, 2026.

Was a Rule 10b5-1 trading plan used for Sun Shuli’s YB transactions?

No. The filing indicates that no Rule 10b5-1 trading plan was reported in connection with these transactions.

Do the RSUs granted to Sun Shuli at Yuanbao Inc. have an expiration date?

The filing states that the restricted share units do not have expiration dates; each RSU represents a contingent right to receive one Class A ordinary share upon vesting.

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

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Available on EDGAR 09/18/2026 - 09:18 AM Accepted by SEC EDGAR 09/18/2026 - 09:17 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^*

Sun Shuli

(Last) (First) (Middle)

BUILDING 2, NO.8 BEICHEN WEST ROAD,

CHAOYANG DISTRICT

(Street)

BEIJING 100101

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Yuanbao Inc. [ YB ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2026

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

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
Options (Right to Buy)	$2	09/16/2026		A		90,000		(1)	09/16/2036	Class A ordinary shares	90,000	$0	90,000	D
Restricted Share Units	(2)	09/16/2026		A		90,000		(2)	(2)	Class A ordinary shares	90,000	$0	180,000(2)	D
Restricted Share Units	(2)	09/16/2026		M			27,000	(2)	(2)	Class A ordinary shares	27,000	$0	153,000(2)(3)	D
American Depositary Shares	(3)	09/16/2026		M		4,500		(3)	(3)	Class A ordinary shares	27,000	$0	4,500	D
American Depositary Shares	(3)	09/16/2026		F			822(4)	(3)	(3)	Class A ordinary shares	4,932	$12.44(4)	3,678	D

Explanation of Responses:

1. The options are expected to vest in four equal installments of 25% of the total grant on each of September 16, 2027, September 16, 2028, September 16, 2029 and September 16, 2030. Each Option entitles the holder to purchase one share of the Issuer's Class A ordinary share upon exercising.

2. These restricted share units (the "RSUs") are expected to vest in eight installments of 30%, 15%, 15%, 10%, 10%, 10%, 5% and 5% of the total grant on each of September 16, 2026 (the "Vesting"), December 16, 2026, March 16, 2027, June 16, 2027, September 16, 2027, December 16, 2027, March 16, 2028 and June 16, 2028, respectively. Each RSU represents a contingent right to receive one share of the Issuer's Class A ordinary share upon vesting. The restricted share units do not have expiration dates.

3. Represents American Depositary Share ("ADS") acquired upon the Vesting. Each ADS is convertible at any time, at the holder's election, into six (6) Class A Ordinary Shares, with a par value of US$0.0001 per share, of Yuanbao Inc. The ADSs have no expiration date.

4. Represents ADSs withheld to satisfy applicable tax withholding obligations in connection with the Vesting. The number of ADSs reported as withheld is estimated based on the closing price of the Company's ADSs of US$12.44 on September 16, 2026, and will be revised by amendment, if necessary, to reflect the actual number of ADSs withheld.

	/s/ Sun Shuli	09/18/2026
	** 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)