{"url_path":"/sec/fedu/10-k/2026/item-12","section_key":"item-12","section_title":"Item 12 DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-06-17","source_url":"https://www.sec.gov/Archives/edgar/data/1709819/0001193125-26-273350-index.html","accession_number":"0001193125-26-273350","cik":"0001709819","ticker":"FEDU","issuer_name":"Four Seasons Education (Cayman) Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1709819/0001193125-26-273350-index.html","primary_entity_key":"0001709819","primary_entity_name":"Four Seasons Education (Cayman) Inc."},"word_count":477,"has_tables":true,"body_markdown":"ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES\n\nA. Debt Securities\n\nNot applicable.\n\nB. Warrants and Rights\n\nNot applicable.\n\nC. Other Securities\n\nNot applicable.\n\nD. American Depositary Shares\n\nFees and Charges Our ADS Holders May Have to Pay\n\nOur American depositary shares, each of which represents ten ordinary shares, are listed on the New York Stock Exchange. The Deutsche Bank Trust Company Americas is the depositary of our ADS program. The depositary collects its fees for delivery and surrender of ADSs directly from investors depositing shares or surrendering ADSs for the purpose of withdrawal or from intermediaries acting for them. The depositary collects fees for making distributions to investors by deducting those fees from the amounts distributed or by selling a portion of distributable property to pay the fees. The depositary may collect its annual fee for depositary services by deduction from cash distributions or by directly billing investors or by charging the book-entry system accounts of participants acting for them. The depositary may collect any of its fees by deduction from any cash distribution payable (or by selling a portion of securities or other property distributable) to ADS holders that are obligated to pay those fees. The depositary may generally refuse to provide fee-attracting services until its fees for those services are paid.\n\n \n\n149\n\n \n\n[Table of Contents](#toc_page)\n\n \n\n \n\nFrom time to time, the depositary may make payments to us to reimburse us for costs and expenses generally arising out of establishment and maintenance of the ADS program, waive fees and expenses for services provided to us by the depositary or share revenue from the fees collected from ADS holders. In performing its duties under the deposit agreement, the depositary may use brokers, dealers or other service providers that are owned by or affiliated with the depositary and that may earn or share fees, spreads or commissions.\n\n \n\nService\n\nFees\n\n• To any person to which ADSs are issued or to any person to which a distribution is made in respect of ADS distributions pursuant to stock dividends or other free distributions of stock, bonus distributions, stock splits or other distributions (except where converted to cash)\n\nUp to US$0.05 per ADS issued\n\n \n\n \n\n• Cancelation of ADSs, including the case of termination of the deposit agreement\n\nUp to US$0.05 per ADS canceled\n\n \n\n \n\n• Distribution of cash dividends\n\nUp to US$0.05 per ADS held\n\n \n\n \n\n• Distribution of cash entitlements (other than cash dividends) and/or cash proceeds from the sale of rights, securities and other entitlements\n\nUp to US$0.05 per ADS held\n\n \n\n \n\n• Distribution of ADSs pursuant to exercise of rights.\n\nUp to US$0.05 per ADS held\n\n \n\n \n\n• Distribution of securities other than ADSs or rights to purchase additional ADSs\n\nUp to US$0.05 per ADS held\n\n \n\n \n\n• Depositary services\n\nUp to US$0.05 per ADS held on the applicable record date(s) established by the depositary bank\n\n \n\n \n\n150\n\n \n\n[Table of Contents](#toc_page)\n\n \n\n \n\nPART II"}