08/26/2026 | Press release | Distributed by Public on 08/26/2026 19:42
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| 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 control number. | SEC 1474 (9-02) | ||
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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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Restricted Stock Units | (1) | 08/24/2026 | M | 13,105 | (1) | (1) | Class A Common Stock | 13,105 | (1) | 0 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Wang Jiawei 1990 E GRAND AVENUE EL SEGUNDO, CA 90245 |
X | Executive Chairman | ||
| /s/ Jiawei Wang | 08/26/2026 | |
| **Signature of Reporting Person | Date |
| * | 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). |
| (1) | Each restricted stock unit ("RSU") represented a contingent right to receive one share of Class A common stock of the Company. The RSUs had no exercise or conversion price and were not exercisable. The RSUs were granted on August 17, 2026, vested in full and automatically settled on August 24, 2026 for no consideration. The RSUs had no expiration date |
| (2) | After the close of market on July 23, 2026, the issuer effected a one-for-one hundred fifty reverse stock split of all issued and outstanding shares of its Class A common stock (the "Common Stock"), which resulted in the reporting person's ownership of issued and outstanding shares of the Common Stock being reduced from 10,563 shares to 71 shares |
| (3) | Represents 4,957 shares sold in connection with the vesting and settlement of RSUs to satisfy applicable employee tax withholding obligations. The shares were sold by the broker and the cash proceeds were remitted to the Company to satisfy the applicable tax withholding obligations |
| (4) | The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $2.66 to $3.10, inclusive. The Reporting Person undertakes to provide, upon request, full information regarding the number of shares sold at each separate price. |