Chen David Lifeng 4

What Happened

David Lifeng Chen, a director of VNET Group, Inc. (VNET), acquired 83,544 Class A ordinary shares in the form of American depositary shares (ADSs) on April 30, 2026. The transaction is reported as an exercise/conversion of a derivative (code M) tied to restricted stock units (RSUs) that vested; the shares were acquired at $0.00 (no cash paid). The filing shows a corresponding derivative disposition entry reflecting the conversion of the derivative instrument into shares.

Key Details

• Transaction date: April 30, 2026; Form 4 filed May 1, 2026 (timely filing).
• Transaction type/code: Exercise/conversion of derivative (M) — RSU vesting converted into ADSs.
• Shares: 83,544 Class A ordinary shares acquired (in ADS form) at $0.00.
• Price/Value: $0.00 reported (compensation-based vesting); no purchase price or sale proceeds shown.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes of note:
  • F1: The shares were delivered as American depositary shares; the filing notes an ADS structure.
  • F2–F4: These 83,544 shares represent RSUs that vested on April 30, 2026. The reporting person has an additional 501,252 RSUs remaining, with scheduled vesting on July 31, 2026; Oct 31, 2026; Jan 31, 2027; Apr 30, 2027; Jul 31, 2027; and Oct 31, 2027. The RSUs have no expiration date.

Context

• This was a compensation vesting event (award converted to shares), not an open-market purchase or sale. Such vesting is routine for executives/directors and reflects grant fulfillment rather than a market-driven buy or sell decision.
• The filing does not indicate an immediate sale of the shares (i.e., it was not a cashless exercise resulting in proceeds).