Wu Xiaobin, President and COO of ONC, has filed 46 Form 4 transactions with the SEC, all in a single company. The pattern is unambiguous: 19 open-market sales totaling roughly $36 million and zero open-market purchases. The most recent cluster of sales came in June 2026, with dispositions on June 23 ($356,927), June 16 ($361,997), June 11 ($163,512), and June 8 (two sales totaling $399,738). Those sales were bracketed by compensation-related grants (code "A") on June 11 and March 6, which carried no transaction value.
The heaviest selling occurred in November 2025, when Wu executed a series of large open-market sales across three days. On November 12 alone, he sold in eight separate transactions ranging from roughly $35,700 to $1.74 million, aggregating about $3.5 million. November 13 brought two sales worth $674,077 and $1.61 million, and November 17 added three more totaling approximately $1.52 million. Earlier in August 2025, Wu exercised options (code "M") and immediately sold shares worth $184,819, a mechanical pattern typical of option exercise-and-sell.
The data shows a consistent sell-side bias with no recent purchases. The only non-sale activity consists of grants and option exercises, which are compensation mechanics rather than discretionary buys. The dollar values are substantial, with the largest single sale at $1.74 million, and the cadence suggests periodic, planned liquidation rather than sporadic activity. As of the most recent filing in late June 2026, Wu's Form 4 history reflects a steady reduction of his ONC stake, with no indication of accumulation.
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