Huang William Wei 4

What Happened

• William (Wei) Huang, Chairman, CEO and a director of GDS Holdings Ltd (GDS), acquired 200,888 American Depositary Shares (ADSs) on April 30, 2026. The Form 4 reports the acquisition at $0.00 because the ADSs were issued upon settlement of fully vested restricted stock units (RSUs).
• Each ADS represents eight Class A ordinary shares, so the award equals 1,607,104 underlying Class A shares (200,888 ADSs × 8). Footnote disclosure says performance conditions were certified on April 23, 2026 and time conditions were satisfied, triggering settlement.

Key Details

• Transaction date: 2026-04-30; Filing date (accession): 2026-05-04 (appears timely).
• Reported price: $0.00 (non-cash RSU settlement); no cash paid.
• Shares reported acquired: 200,888 ADSs (equivalent to 1,607,104 Class A ordinary shares).
• Source footnotes: F1 — each ADS = 8 Class A ordinary shares; F2 — settlement of fully vested RSUs after performance & time conditions.
• Shares owned following the transaction: not specified in the provided filing.

Context

• This was not an open-market purchase or sale but the settlement of compensation RSUs (a non-cash award). Such transactions reflect company compensation programs and fulfillment of performance/time vesting conditions rather than a direct market trade by the insider.
• No inference about Mr. Huang’s market view should be drawn solely from this compensation-related acquisition.