GigaCloud (NASDAQ: GCT) CEO raises cash on 413k shares
GigaCloud (GCT) CEO Lei Wu entered a variable prepaid forward sale contract for 413,942 Class A shares, receiving $16.78M in cash. He pledged these shares as collateral but retained voting and dividend rights. Additionally, 413,942 Class B shares were converted to Class A shares. Post-transaction, Wu holds 700,000 Class A and 6.45M Class B shares indirectly, and 154,000 Class A and 5,000 Class B shares directly.