CEO Wu Lei sells 60,000 shares ($2.4M) over two days, reducing stake by 50% to 60,000 shares at blended $40.80
Wu Lei, Chief Executive Officer of GigaCloud Technology Inc, filed 5 separate sales totaling 60,000 shares for $2,448,060.08 between March 19–20, 2026, executed at prices ranging from $40.06 to $42.54. This liquidation cuts his holdings exactly in half—from 120,000 to 60,000 shares—occurring near the stock's 52-week high of $46.98 (current price $40.31 is 14.2% below that peak). The sale is notable for its scale and concentration: a sitting CEO disposed of half his equity stake in just two trading days, a material reduction of the executive's financial alignment with the company. This filing follows a pattern of recent sales at this ticker (5 prior sales on March 17–18), indicating consecutive selling activity rather than an isolated transaction. Without a disclosed FLAG indicating a scheduled 10b5-1 plan, the timing and magnitude warrant investor scrutiny as to the motivations behind such a substantial equity reduction by the company's top officer.