Zhengxu He Discloses 2.6% Stake in Phunware, Inc. Following Series of Open Market Purchases

On April 6, 2026, investor Zhengxu He filed a Schedule 13D disclosing the acquisition of 520,000 shares of Phunware, Inc. (PHUN) common stock. This position represents approximately 2.6% of the company's outstanding shares. The filing details a series of open-market purchases conducted between February 4, 2026, and March 30, 2026. The largest single acquisition occurred on February 5, 2026, involving 270,000 shares at a price of $1.61 per share. Other transactions were executed at prices ranging from $1.63 to $1.88 per share. According to the filing, the shares were purchased using personal funds for a total investment value of approximately $863,892. Zhengxu He, a U.S. citizen based in Reno, Nevada, is characterized as an active investor. The filing indicates that the purpose of these transactions was for investment purposes, and the filer holds sole voting and dispositive power over all 520,000 shares. This appears to be a new significant position for the reporting person in the Austin-based software company.