Full Truck Alliance grants Xinzhe Li a stock award

The award vests in four equal installments through November 2027, with each installment conditional on continued service.

Available on EDGAR 11/02/2026 - 06:06 AM EST Accepted by SEC EDGAR 11/02/2026 - 06:04 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Full Truck Alliance Co. Ltd. director Xinzhe Li acquired 23,641 restricted ADSs as an award on November 1, 2026. The ADSs vest one-fourth each on February 1, May 1, August 1, and November 1, 2027, subject to continued service through each date. His reported direct holdings after the award were 23,641 ADSs; he also reported 228,162 indirectly held ADSs in a brokerage account maintained by the issuer for its employee incentive plan. Each ADS represents 20 Class A ordinary shares.

Insider Trade Summary

Grant/Award: 23,641 shares

Grant/Award 1 txn

Insider Li Xinzhe

Role Director

Type	Security	Shares	Price	Value
Grant/Award	American Depositary Shares F1, F2	23,641	$0.00	$0.00
Holding	American Depositary Shares F1, F3	--	--	--

Holdings After Transaction: American Depositary Shares — 23,641 shares (Direct); American Depositary Shares — 228,162 shares (Indirect, See Footnote)

Footnotes (3)

1. F1. Each American Depositary Share ("ADS") represents 20 Class A ordinary shares, with a par value of $0.00001 per share, of the Issuer.
2. F2. Represent restricted ADSs of the Issuer, which will vest one-fourth each on February 1, 2027, May 1, 2027, August 1, 2027, and November 1, 2027, respectively, subject to the Reporting Person's continued service through such dates.
3. F3. Represent shares held in a brokerage account maintained by the Issuer for its employee incentive plan.

Key Figures

Awarded restricted ADSs: 23,641 ADSs Direct ADS holdings after award: 23,641 ADSs Indirect ADS holdings: 228,162 ADSs +2 more

5 metrics

Awarded restricted ADSs 23,641 ADSs Award dated November 1, 2026

Direct ADS holdings after award 23,641 ADSs Reported after the November 1, 2026 award

Indirect ADS holdings 228,162 ADSs Held in a brokerage account maintained by the issuer for its employee incentive plan as of November 1, 2026

ADS ratio 20 Class A ordinary shares per ADS Each ADS represents this number of Class A ordinary shares

Vesting schedule Four installments, one-fourth each February 1, May 1, August 1, and November 1, 2027; subject to continued service through each date

Key Terms

American Depositary Share, restricted ADSs, vest, par value

4 terms

American Depositary Share financial

"Each American Depositary Share ("ADS") represents 20 Class A ordinary shares"

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.

restricted ADSs financial

"Represent restricted ADSs of the Issuer"

vest financial

"which will vest one-fourth each on February 1, 2027"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

par value financial

"with a par value of $0.00001 per share"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

FAQ

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

How many ADSs did YMM director Xinzhe Li receive?

Xinzhe Li, a director of Full Truck Alliance Co. Ltd., received 23,641 restricted ADSs as an award on November 1, 2026. One-fourth vests on each of February 1, May 1, August 1, and November 1, 2027, subject to continued service through each date.

What does one YMM ADS represent?

One ADS represents 20 Class A ordinary shares of Full Truck Alliance Co. Ltd.

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

Form 4 Insider Transactions: What Each Field Means →

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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^*

Li Xinzhe

(Last) (First) (Middle)

WANBO SCIENCE AND TECHNOLOGY PARK,

20 FENGXIN ROAD

(Street)

NANJING CHINA 210012

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Full Truck Alliance Co. Ltd. [ YMM ]

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)
11/01/2026

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
American Depositary Shares(1)(2)	11/01/2026		A		23,641(2)	A	$0.000	23,641	D
American Depositary Shares(1)								228,162	I	See Footnote(3)

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

Explanation of Responses:

1. Each American Depositary Share ("ADS") represents 20 Class A ordinary shares, with a par value of $0.00001 per share, of the Issuer.

2. Represent restricted ADSs of the Issuer, which will vest one-fourth each on February 1, 2027, May 1, 2027, August 1, 2027, and November 1, 2027, respectively, subject to the Reporting Person's continued service through such dates.

3. Represent shares held in a brokerage account maintained by the Issuer for its employee incentive plan.

	/s/ Chen Luo, attorney-in-fact for Jennifer Xinzhe Li	11/02/2026
	** 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)