Nano Labs Ltd (NA) director Hu Nan sells 4,352 Class A shares in open market

Rhea-AI Filing Summary

Nano Labs Ltd director Hu Nan reported a series of open-market sales of Class A Common Stock. On April 28, 2026, Hu Nan sold a total of 4,352 shares of Class A Common Stock at prices reported as $2.01 per share through multiple secondary market transactions.

Following these sales, Hu Nan directly holds 42,668 shares of Nano Labs Ltd Class A Common Stock. The filing shows only non-derivative stock transactions and no option exercises or other derivative activity.

Insights

Equity markets analyst

Director executes modest open-market stock sale, retains sizable remaining position.

Director Hu Nan sold 4,352 shares of Nano Labs Ltd Class A Common Stock on April 28, 2026 at $2.01 per share through multiple secondary market transactions. These are straightforward open-market sales coded "S" on the Form 4.

After the transactions, Hu Nan directly owns 42,668 shares, indicating that only a portion of the holding was sold. There are no derivative positions or option exercises disclosed in this filing, so the activity reflects a net reduction in common stock exposure rather than option-related mechanics.

Insider Trade Summary

Net Seller: 4,352 shares ($8,748)

Net Sell 15 txns

Insider Hu Nan

Role null

Sold 4,352 shs ($9K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock, par value $0.002 per share	500	$2.01	$1K
Sale	Class A Common Stock, par value $0.002 per share	300	$2.01	$603.00
Sale	Class A Common Stock, par value $0.002 per share	200	$2.01	$402.00
Sale	Class A Common Stock, par value $0.002 per share	52	$2.01	$104.52
Sale	Class A Common Stock, par value $0.002 per share	100	$2.01	$201.00
Sale	Class A Common Stock, par value $0.002 per share	1,000	$2.01	$2K
Sale	Class A Common Stock, par value $0.002 per share	100	$2.01	$201.00
Sale	Class A Common Stock, par value $0.002 per share	200	$2.01	$402.00
Sale	Class A Common Stock, par value $0.002 per share	600	$2.01	$1K
Sale	Class A Common Stock, par value $0.002 per share	100	$2.01	$201.00
Sale	Class A Common Stock, par value $0.002 per share	200	$2.01	$402.00
Sale	Class A Common Stock, par value $0.002 per share	600	$2.01	$1K
Sale	Class A Common Stock, par value $0.002 per share	100	$2.01	$201.00
Sale	Class A Common Stock, par value $0.002 per share	200	$2.01	$402.00
Sale	Class A Common Stock, par value $0.002 per share	100	$2.01	$201.00

Holdings After Transaction: Class A Common Stock, par value $0.002 per share — 42,668 shares (Direct, null)

Footnotes (1)

1. Represents numbers of shares sold by secondary market transactions Represents the price of the shares sold by secondary market transactions.

Key Figures

Shares sold: 4,352 shares Sale price: $2.01 per share Post-sale holdings: 42,668 shares +2 more

5 metrics

Shares sold 4,352 shares Class A Common Stock sold on April 28, 2026

Sale price $2.01 per share Price for Class A Common Stock sales

Post-sale holdings 42,668 shares Hu Nan direct ownership after transactions

Number of sale transactions 15 transactions Individual open-market sale entries reported

Net buy/sell direction Net sale of 4,352 shares Transaction summary for April 28, 2026

Key Terms

open-market sale, Class A Common Stock, secondary market transactions, non-derivative, +1 more

5 terms

open-market sale financial

"transaction_action is described as "open-market sale" for each entry"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Class A Common Stock financial

"security_title lists "Class A Common Stock, par value $0.002 per share""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

secondary market transactions financial

"footnote states "numbers of shares sold by secondary market transactions""

Trades of stocks, bonds or other securities that take place between investors after the initial sale, where the issuing company is not the buyer or seller. These transactions create liquidity and reveal market prices—like a public resale market for event tickets—so they matter to investors because they determine how easily an asset can be bought or sold, influence its market value, and signal market sentiment and transaction costs.

non-derivative financial

"transaction_type is labeled "non-derivative" for each sale"

Form 4 regulatory

"insider activity is reported in this Form 4 filing"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hu Nan

(Last) (First) (Middle)

ROOM 901, NO. 512 HAIYANG WEST ROAD

PUDONG NEW AREA

(Street)

SHANGHAI 200124

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Nano Labs Ltd [ NA ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/27/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock, par value $0.002 per share	04/28/2026		S		500(1)	D	$2.01(2)	42,668	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		300(1)	D	$2.01(2)	42,368	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		200(1)	D	$2.01(2)	42,168	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		52(1)	D	$2.01(2)	42,116	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		100(1)	D	$2.01(2)	42,016	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		1,000(1)	D	$2.01(2)	41,016	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		100(1)	D	$2.01(2)	40,916	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		200(1)	D	$2.01(2)	40,716	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		600(1)	D	$2.01(2)	40,116	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		100(1)	D	$2.01(2)	40,016	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		200(1)	D	$2.01(2)	39,816	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		600(1)	D	$2.01(2)	39,216	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		100(1)	D	$2.01(2)	39,116	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		200(1)	D	$2.01(2)	38,916	D
Class A Common Stock, par value $0.002 per share	04/28/2026		S		100(1)	D	$2.01(2)	38,816	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents numbers of shares sold by secondary market transactions

2. Represents the price of the shares sold by secondary market transactions.

	/s/ NAN HU	04/30/2026
	** 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 4 (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 4: SEC 1474 (03-26)

FAQ

What did Nano Labs Ltd (NA) director Hu Nan report in this Form 4?

Director Hu Nan reported selling Class A Common Stock of Nano Labs Ltd in the open market. The Form 4 shows multiple secondary market sales totaling 4,352 shares at $2.01 per share on April 28, 2026, reducing but not eliminating the director’s direct holdings.

How many Nano Labs Ltd (NA) shares did Hu Nan sell and at what price?

Hu Nan sold a total of 4,352 shares of Nano Labs Ltd Class A Common Stock. The reported sale price was $2.01 per share, executed through several open-market secondary transactions on April 28, 2026, as disclosed in the Form 4 filing.

How many Nano Labs Ltd (NA) shares does Hu Nan hold after these sales?

Following the reported transactions, Hu Nan directly holds 42,668 shares of Nano Labs Ltd Class A Common Stock. This remaining position is disclosed in the Form 4 as the post-transaction ownership figure for the director’s direct holdings in the company.

Were Hu Nan’s Nano Labs Ltd (NA) trades open-market transactions?

Yes. The Form 4 describes the transactions as open-market sales coded "S". Footnotes state the numbers and prices represent shares sold via secondary market transactions, confirming these were standard market trades rather than option exercises or private restructurings.

Did the Nano Labs Ltd (NA) Form 4 include any option or derivative exercises?

No. The Form 4 lists only non-derivative Class A Common Stock transactions for Hu Nan. The derivativeSummary section is empty, and there are no exercise-related codes such as M or C, indicating no option or other derivative exercises were reported in this filing.

What does the Form 4 say about Hu Nan’s Nano Labs Ltd (NA) sales context?

Footnotes explain that the numbers represent shares sold through secondary market transactions and the prices reflect those market sales. The filing categorizes each trade as an open-market sale, providing transparency on how the shares were disposed of on April 28, 2026.