Yuanbao CEO exercises options for 50,000 ADS

Yuanbao Inc. director and Chief Executive Officer Fang Rui reported exercising stock options to acquire additional equity in the company.

Rhea-AI Filing Summary

Yuanbao Inc. director and Chief Executive Officer Fang Rui reported exercising stock options to acquire additional equity in the company. On 2026-05-08, Fang Rui exercised options covering 300,000 Class A ordinary shares, represented by 50,000 American Depositary Shares (ADS). Each ADS is convertible into six Class A ordinary shares and has no expiration date. The options carried an exercise price of $0.06 per Class A ordinary share and were fully vested and exercisable as of August 1, 2024. Following the transactions, the filing shows direct ownership of 50,000 ADS.

Insights

Equity compensation analyst

CEO exercised vested options to increase direct equity exposure.

Chief Executive Officer Fang Rui exercised options to acquire 300,000 Class A ordinary shares, represented by 50,000 ADS, at an exercise price of $0.06 per Class A share. These options were already fully vested and exercisable.

The transactions are coded as derivative exercises (code M), not open-market purchases, so they primarily reflect use of existing equity awards rather than new cash investment. The filing reports direct ownership of 50,000 ADS afterward.

Insider Trade Summary

350,000 shares exercised/converted

Exercise 2 txns

Insider Fang Rui

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Options (Right to Buy)	300,000	$0.00	$0.00
Exercise	American Depositary Shares	50,000	$0.00	$0.00

Holdings After Transaction: Options (Right to Buy) — 1,100,000 contracts (Direct); American Depositary Shares — 50,000 contracts (Direct)

Footnotes (3)

1. F1. The option shares are fully vested and exercisable as of August 1, 2024.
2. F2. Each American Depositary Share ("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.
3. F3. Represents ADSs acquired upon exercise of options.

Key Figures

ADS acquired: 50,000 ADS Underlying Class A shares: 300,000 shares Option exercise price: $0.06 per Class A share +3 more

6 metrics

ADS acquired 50,000 ADS Exercised and received on May 8, 2026

Underlying Class A shares 300,000 shares Class A ordinary shares represented by 50,000 ADS

Option exercise price $0.06 per Class A share Exercise price for options exercised on May 8, 2026

Total shares following ADS transaction 50,000 ADS Direct ADS holdings after derivative exercise

Total derivative exercise shares 350,000 shares ExerciseShares across derivative transactions in summary

ADS conversion ratio 1 ADS = 6 Class A shares ADS convertibility as described in footnote

Key Terms

American Depositary Shares, Options (Right to Buy, Exercise or conversion of derivative security, Class A ordinary shares, +1 more

5 terms

American Depositary Shares financial

"security_title: American Depositary Shares"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

Options (Right to Buy financial

"security_title: Options (Right to Buy)"

Exercise or conversion of derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

Class A ordinary shares financial

"underlying_security_title: Class A ordinary shares"

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.

American Depositary Share ("ADS") financial

"Each American Depositary Share ("ADS") is convertible at any time"

An American Depositary Share (ADS) is a U.S.-listed certificate issued by a U.S. bank that represents one or more ordinary shares of a foreign company, letting U.S. investors buy and sell that foreign stock in dollars on U.S. markets. It matters because ADSs make access to overseas companies easier and more convenient—like a local ticket that stands in for a foreign product—while affecting liquidity, dividend payments, currency conversion and the regulatory disclosures investors rely on.

FAQ

What did Yuanbao Inc. (YB) CEO Fang Rui report in this Form 4?

Fang Rui reported exercising stock options to acquire 300,000 Class A ordinary shares, represented by 50,000 American Depositary Shares (ADS). The transactions are derivative exercises, not open-market buys, and increase his directly held ADS position.

How many Yuanbao Inc. (YB) ADS did the CEO acquire in this filing?

The filing shows Fang Rui acquired 50,000 American Depositary Shares. These ADS were received upon exercising options, and each ADS represents six Class A ordinary shares of Yuanbao Inc., giving exposure to 300,000 underlying shares in total.

What is the exercise price of the Yuanbao Inc. (YB) options in this Form 4?

The options exercised by Fang Rui have an exercise price of $0.06 per Class A ordinary share. By exercising these options, he obtained exposure to 300,000 Class A shares, which are represented by 50,000 ADS reported in the filing.

How are Yuanbao Inc. (YB) ADS related to Class A ordinary shares?

Each Yuanbao Inc. American Depositary Share is convertible into six Class A ordinary shares. The ADS have no expiration date, allowing holders to convert to the underlying Class A ordinary shares at any time, at the holder’s election, according to the filing.

Were the Yuanbao Inc. (YB) options already vested before this exercise?

Yes. A footnote states the option shares were fully vested and exercisable as of August 1, 2024. The Form 4 records the CEO’s decision to exercise these already-vested options on May 8, 2026 and receive ADS representing the underlying shares.

Does this Yuanbao Inc. (YB) Form 4 show any stock sales by the CEO?

No stock sales are reported. The Form 4 only shows transactions with code M, which indicate exercise or conversion of derivative securities. These are acquisitions of shares via options, not open-market sales or purchases for cash.

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Accepted by SEC EDGAR 05/11/2026 - 06:49 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^*

Fang Rui

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

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

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)	$0.06	05/08/2026		M			300,000	(1)	08/01/2030	Class A ordinary shares	300,000	$0	1,100,000	D
American Depositary Shares	(2)(3)	05/08/2026		M		50,000(3)		(2)	(2)	Class A ordinary shares	300,000(2)	(3)	50,000	D

Explanation of Responses:

1. The option shares are fully vested and exercisable as of August 1, 2024.

2. Each American Depositary Share ("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.

3. Represents ADSs acquired upon exercise of options.

	/s/ Fang Rui	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 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)