Director LI Xiufang filed a Form 4 with the SEC on September 23, 2026, reporting the cancellation and surrender of 171 restricted shares of Cheche Group Inc. in exchange for an aggregate cash settlement of US$10,000.

Key Highlights

  • Reporting person: LI Xiufang, identified as a Director of Cheche Group Inc.
  • Transaction date: September 23, 2026, involving 171 Class A ordinary shares designated as Restricted Shares.
  • Transaction code: D (disposition), at a recorded price of $0.00 per share.
  • Cash settlement: An aggregate of US$10,000 was received in exchange for cancellation of prior equity compensation arrangements, according to the filing.
  • Prior award breakdown: Of the 171 shares, 114 had vested but remained unsettled and unissued, and 57 remained unvested and unissued, immediately prior to the transaction.
  • Resulting ownership: Following the transaction, LI Xiufang directly beneficially owns 0 shares of the reported security.

Cheche Group Director LI Xiufang Cancels Equity Awards in Cash Settlement

According to the Form 4 filed on September 23, 2026, LI Xiufang, a Director of Cheche Group Inc. (NASDAQ:CCG), disposed of 171 restricted Class A ordinary shares through cancellation and surrender to the issuer. The filing reports the transaction price as $0.00 per share, reflecting that the consideration was not determined on a per-share basis.

The filing's footnotes explain that immediately prior to the transaction, LI Xiufang held equity awards covering an aggregate of 171 Class A ordinary shares. Of those, awards covering 114 shares had vested but remained unsettled and unissued, while awards covering the remaining 57 shares were unvested and unissued. The filing states that the cancellation occurred "in connection with the replacement of the Reporting Person's prior equity compensation arrangements with an aggregate cash settlement of US$10,000."

The filing further notes that "the cash settlement was negotiated as an aggregate settlement of the Reporting Person's prior equity compensation arrangements and was not determined on a per-share basis." Following the reported transaction, LI Xiufang's directly held beneficial ownership of this security stands at 0 shares. No derivative securities were reported in Table II of the filing.

What Was Disclosed

LI Xiufang, a Director at Cheche Group Inc., reported the cancellation of 171 restricted Class A ordinary shares on September 23, 2026, replaced by an aggregate cash settlement of US$10,000, leaving the director with zero direct beneficial ownership of that security class.