Agora (API) COO reports ADS option grants and share holdings

Rhea-AI Filing Summary

Agora, Inc. COO of Shengwang, Liu Bin Robbin, has filed an initial ownership report detailing existing holdings in Agora ADSs and options. The filing shows direct ownership of 65,802 ADSs as of the reporting date. It also lists fully vested options to acquire 5,634 ADSs at an exercise price of 0.4000 per ADS and 134,190 ADSs at 0.0004 per ADS, along with options for 54,366 and 36,769 ADSs at an exercise price of 0.0000 per ADS. In addition, there is an incentive stock option covering 450,000 ADSs at an exercise price of 4.0000 per ADS, which vests in three 150,000-ADS tranches tied to separate performance goals. One ADS represents four Class A Ordinary Shares.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider Liu Bin Robbin

Role COO of Shengwang

Type	Security	Shares	Price	Value
holding	Option (Right to buy)	--	--	--
holding	Option (Right to buy)	--	--	--
holding	Option (Right to buy)	--	--	--
holding	Option (Right to buy)	--	--	--
holding	Incentive Stock Option (Right to Buy)	--	--	--
holding	ADS	--	--	--

Holdings After Transaction: Option (Right to buy) — 5,634 shares (Direct); Incentive Stock Option (Right to Buy) — 450,000 shares (Direct); ADS — 65,802 shares (Direct)

Footnotes (1)

1. One ADS represents four Class A Ordinary Shares. The Options were granted on June 17, 2020 and fully vested as of the filing date. The Options were granted on December 1, 2022 and fully vested as of the filing date. The Options were granted on January 1, 2023 and fully vested as of the filing date. The Options were granted on July 1, 2024 and fully vested as of the filing date. The Options were granted on September 4, 2024 with the following vesting conditions: 150,000 ADSs subject to the Option shall vest upon meeting or exceeding the first Performance Goal, another 150,000 ADSs subject to the Option shall vest upon meeting or exceeding the second Performance Goal, and the remaining 150,000 ADSs subject to the Option shall vest upon meeting or exceeding the third Performance Goal.

Key Figures

Direct ADS holdings: 65,802 ADSs Incentive stock option ADSs: 450,000 ADSs at 4.0000 per ADS Option at 0.4000: 5,634 ADSs at 0.4000 per ADS +3 more

6 metrics

Direct ADS holdings 65,802 ADSs Direct ownership reported on Form 3

Incentive stock option ADSs 450,000 ADSs at 4.0000 per ADS Incentive Stock Option (Right to Buy) expiring 2034-09-04

Option at 0.4000 5,634 ADSs at 0.4000 per ADS Option (Right to buy) expiring 2030-06-17

Option at 0.0004 134,190 ADSs at 0.0004 per ADS Option (Right to buy) expiring 2032-12-01

Option at 0.0000 (2032) 54,366 ADSs at 0.0000 per ADS Option (Right to buy) expiring 2032-04-01

Option at 0.0000 (2033) 36,769 ADSs at 0.0000 per ADS Option (Right to buy) expiring 2033-04-01

Key Terms

ADS, Incentive Stock Option, Performance Goal, Class A Ordinary Shares

4 terms

ADS financial

"The filing shows direct ownership of 65,802 ADSs as of the reporting date."

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

Incentive Stock Option financial

"In addition, there is an incentive stock option covering 450,000 ADSs at an exercise price of 4.0000 per ADS"

An incentive stock option is a type of employee benefit that gives a worker the right to buy company shares at a fixed price, with special tax advantages if the employee holds the shares for a required period. Think of it as a coupon to buy future shares at today’s price that can result in lower tax on the gain. Investors care because ISOs can dilute share count, align staff incentives with the stock price, and affect company compensation costs and the timing of potential share sales.

Performance Goal financial

"150,000 ADSs subject to the Option shall vest upon meeting or exceeding the first Performance Goal"

Class A Ordinary Shares financial

"One ADS represents four Class A Ordinary Shares."

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Liu Bin Robbin

(Last) (First) (Middle)

SONGHU ROAD 333

YANGPU AREA,

(Street)

SHANGHAI CHINA 200433

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/31/2026

3. Issuer Name and Ticker or Trading Symbol
Agora, Inc. [ API ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	COO of Shengwang

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
ADS(1)	65,802	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option (Right to buy)	(2)	06/17/2030	ADSs	5,634	$0.4	D
Option (Right to buy)	(3)	12/01/2032	ADSs	134,190	$0.0004	D
Option (Right to buy)	(4)	04/01/2032	ADSs	54,366	$0	D
Option (Right to buy)	(5)	04/01/2033	ADSs	36,769	$0	D
Incentive Stock Option (Right to Buy)	(6)	09/04/2034	ADSs	450,000	$4	D

Explanation of Responses:

1. One ADS represents four Class A Ordinary Shares.

2. The Options were granted on June 17, 2020 and fully vested as of the filing date.

3. The Options were granted on December 1, 2022 and fully vested as of the filing date.

4. The Options were granted on January 1, 2023 and fully vested as of the filing date.

5. The Options were granted on July 1, 2024 and fully vested as of the filing date.

6. The Options were granted on September 4, 2024 with the following vesting conditions: 150,000 ADSs subject to the Option shall vest upon meeting or exceeding the first Performance Goal, another 150,000 ADSs subject to the Option shall vest upon meeting or exceeding the second Performance Goal, and the remaining 150,000 ADSs subject to the Option shall vest upon meeting or exceeding the third Performance Goal.

	LIU BIN ROBBIN	03/31/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Agora (API) COO Liu Bin Robbin report owning on this Form 3?

Liu Bin Robbin reports direct ownership of 65,802 Agora ADSs plus several option grants over additional ADSs, including a 450,000-ADS incentive stock option, providing a detailed picture of his initial equity position in the company.

How many Agora (API) ADSs are covered by the COO’s incentive stock option?

The incentive stock option covers 450,000 Agora ADSs at an exercise price of 4.0000 per ADS. These ADSs are split into three 150,000-ADS tranches that vest upon meeting separate performance goals described in the filing.

What low-priced options does Agora (API) COO Liu Bin Robbin hold?

He holds options over 5,634 ADSs at 0.4000 per ADS and 134,190 ADSs at 0.0004 per ADS, plus options over 54,366 and 36,769 ADSs at 0.0000 per ADS, representing fully vested grants with very low exercise prices.

Are the Agora (API) COO’s existing options already vested?

Options granted on June 17, 2020, December 1, 2022, January 1, 2023, and July 1, 2024 are fully vested as of the filing date, meaning those underlying ADSs can be exercised subject to their terms and expiration dates.

How is one Agora (API) ADS related to Class A Ordinary Shares?

One Agora ADS represents four Class A Ordinary Shares. This means the share exposure from the reported ADS and option positions is four times larger when measured in underlying Class A Ordinary Shares rather than ADS units.