17 Education (YQ) SVP details large option and ADS holdings
Rhea-AI Filing Summary
17 Education & Technology Group Inc. senior vice president Zhang Kuanghao filed an initial Form 3 showing his equity position in the company. He holds options with a $0.0014 exercise price over 800,000 and another 800,000 Class A ordinary shares, expiring on July 10, 2031 and January 10, 2032, respectively, both fully vested according to prior grants.
He also reports options over 10,000,000 Class A ordinary shares vesting in three equal annual installments beginning on October 10, 2025, and options over 5,000,000 Class A ordinary shares subject to performance-based vesting over a three-year period starting on that date. In addition, he directly owns 4,000,000 Class A ordinary shares and 70,300 American depositary shares, where each ADS represents fifty Class A ordinary shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Class A ordinary shares | -- | -- | -- |
| holding | American depositary shares | -- | -- | -- |
Footnotes (1)
- Each American depositary share ("ADS") represents fifty (50) Class A ordinary shares, with a par value of US$0.0001 per share, of 17 Education & Technology Group Inc. (the "Company"). On July 10, 2021, the reporting person was granted the options to purchase 800,000 Class A ordinary shares of 17 Education & Technology Group Inc. (the "Company"). These options vest in four equal annual installments beginning on July 10, 2022 and have been fully vested. On January 10, 2022, the reporting person was granted the options to purchase 800,000 Class A ordinary shares of the Company. These options vest in four equal annual installments beginning on January 10, 2023 and have been fully vested. On October 10, 2025, the reporting person was granted the options to purchase 10,000,000 Class A ordinary shares of the Company. These options vest in three equal annual installments beginning on the grant date, i.e., October 10, 2025. On October 10, 2025, the reporting person was granted the options to purchase 5,000,000 Class A ordinary shares of the Company. These options are subject to performance-based vesting conditions and will vest in two tranches upon the achievement of certain performance targets within a three-year period.
