Lei Wu - 10 Apr 2024 Form 4 Insider Report for GigaCloud Technology Inc (GCT)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Lei Wu
Issuer symbol
GCT
Transactions as of
10 Apr 2024
Net transactions value
-$710,563
Form type
4
Filing time
12 Apr 2024, 20:45:02 UTC
Previous filing
11 Apr 2024
Next filing
16 Apr 2024
SEC
View on sec.gov

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 Award $0 +100,000 +8.6% $0.000000 1,259,816 10 Apr 2024 By Shan Lao Hu Tong LLC, Ji Xiang Hu Tong Holdings Limited and TALENT BOOM GROUP LIMITED F1, F2, F3, F4
transaction GCT Class A Ordinary Shares, par value $0.05 per share Sale $31,860 -1,000 -0.08% $31.86 1,258,816 10 Apr 2024 By Shan Lao Hu Tong LLC, Ji Xiang Hu Tong Holdings Limited and TALENT BOOM GROUP LIMITED F2, F3, F4, F5, F6
transaction GCT Class A Ordinary Shares, par value $0.05 per share Sale $336,298 -9,994 -0.79% $33.65 1,248,822 11 Apr 2024 By Shan Lao Hu Tong LLC, Ji Xiang Hu Tong Holdings Limited and TALENT BOOM GROUP LIMITED F2, F3, F4, F5, F7
transaction GCT Class A Ordinary Shares, par value $0.05 per share Sale $342,405 -10,006 -0.8% $34.22 1,238,816 11 Apr 2024 By Shan Lao Hu Tong LLC, Ji Xiang Hu Tong Holdings Limited and TALENT BOOM GROUP LIMITED F2, F3, F4, F5, F8

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
holding GCT Class B Ordinary Shares, par value $0.05 per share 8,076,732 10 Apr 2024 Class A Ordinary Shares, par value $0.05 per share 8,076,732 By Shan Lao Hu Tong LLC, Ji Xiang Hu Tong Holdings Limited and TALENT BOOM GROUP LIMITED F2, F4, F9, F10
* 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 Issuer's Class A ordinary shares issued pursuant to restricted share units granted to Mr. Wu under the Issuer's 2017 share incentive plan.
F2 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.
F3 Represents Class A ordinary shares, par value of US$0.05 per share, of the Issuer ("Class A Ordinary Shares") directly held by Ji Xiang Hu Tong Holdings Limited and TALENT BOOM GROUP LIMITED.
F4 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.
F5 The shares were sold pursuant to the 10b5-1 plans.
F6 Represents the weighted average sale price. The lowest price at which shares were sold was $31.51 and the highest price at which shares were sold was $32.28.
F7 Represents the weighted average sale price. The lowest price at which shares were sold was $32.98 and the highest price at which shares were sold was $33.97.
F8 Represents the weighted average sale price. The lowest price at which shares were sold was $33.99 and the highest price at which shares were sold was $34.59.
F9 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.
F10 Represents 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 TALENT BOOM GROUP LIMITED.