Lei Wu - Mar 18, 2024 Form 4 Insider Report for GigaCloud Technology Inc (GCT)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Lei Wu
Stock symbol
GCT
Transactions as of
Mar 18, 2024
Transactions value $
$0
Form type
4
Date filed
3/20/2024, 08:59 PM
Previous filing
Jan 2, 2024
Next filing
Mar 29, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GCT Class A Ordinary Shares, par value $0.05 per share Conversion of derivative security $0 +1.25M $0.00 1.25M Mar 18, 2024 By Shan Lao Hu Tong LLC, Ji Xiang Hu Tong Holdings Limited and TALENT BOOM GROUP LIMITED F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GCT Class B Ordinary Shares, par value $0.05 per share Conversion of derivative security $0 -1.25M -13.4% $0.00 8.08M Mar 18, 2024 Class A Ordinary Shares, par value $0.05 per share 1.25M By Shan Lao Hu Tong LLC, Ji Xiang Hu Tong Holdings Limited and TALENT BOOM GROUP LIMITED F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 Represents the conversion of (i) 1,095,120 Class B ordinary shares, par value of US$0.05 per share, of the Issuer ("Class B Ordinary Shares") directly held by Ji Xiang Hu Tong Holdings Limited and (ii) 154,880 Class B Ordinary Shares directly held by TALENT BOOM GROUP LIMITED into Class A ordinary shares of the Company. Lei Wu ("Mr. Wu") is the sole member and sole manager of a limited liability company, Shan Lao Hu Tong LLC, that is the sole shareholder of Ji Xiang Hu Tong Holdings Limited. Mr. Wu also controls TALENT BOOM GROUP LIMITED. As a result of these relationships, Mr. Wu may be deemed to be an indirect beneficial owner of the securities held by Ji Xiang Hu Tong Holdings Limited and TALENT BOOM GROUP LIMITED.
F2 The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Persons on December 29, 2023, during an open trading window.
F3 This report shall not be deemed an admission that any of the reporting persons is the beneficial owner of such securities for purposes of Section 16 of Securities Exchange Act of 1934, as amended, or for any other purpose.
F4 The Class B Ordinary Shares are convertible at any time at the option of the holder into an equal number of Class A Ordinary Shares at no cost.