Summary: Foxx Development Holdings Inc. reported two governance-related disclosures: an insider sale by an executive officer and the addition of a new director with defined compensation and indemnification arrangements.
Insider sale details
Executive Vice President Cui Haitao sold 3,291 shares of Foxx Development common stock on March 20, 2026, at $4.54 per share, representing a total transaction value of $14,941. After completing the sale, Cui directly owns 133,307 shares. That total comprises 36,051 vested shares and 97,256 unvested restricted shares that originated from an initial grant dated November 5, 2024.
The filing specifies that the remaining unvested restricted shares are scheduled to vest on a quarterly basis, contingent on continuous service. The disclosed transaction updates the public record of the executive’s direct holdings and the status of his restricted-share grant.
Board appointment and compensation
In a separate disclosure, Foxx Development announced the election of Michelle Jie Shen to its board of directors, effective December 22, 2025. The company has entered into an offer letter and an indemnification agreement with Ms. Shen in connection with her appointment.
Under the terms disclosed, Ms. Shen will receive an annual director fee of $60,000. The filing notes that this fee level is subject to review and determination by the company’s board, indicating that compensation may be revisited in the future. The indemnification agreement is stated to be effective retroactively from the date of her appointment.
Context within corporate governance
These filings together update investors and other stakeholders on recent changes to insider ownership and board composition at Foxx Development. The insider sale documents the change in one executive’s direct holdings, while the director appointment sets out the compensation framework and legal protections associated with the new board member.
All figures, dates, and terms reported here are drawn from the company’s disclosures identifying the transaction, the outstanding composition of the executive’s holdings, the original restricted-share grant, and the board election and agreements for the new director.