March 18, 2024 · Form 4 insider transaction
Wu Lei bought 1,250,000 shares of GIGACLOUD TECHNOLOGY INC at $0.00 per share, a transaction worth N/A. The trade was recorded as conversion of a derivative under a pre-scheduled Rule 10b5-1 plan and disclosed on an SEC Form 4, filed 2 days after the transaction.
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.; 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.; 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.