Liang Yan 4
4 · GDS Holdings Ltd · Filed May 4, 2026
Research Summary
AI-generated summary of this filing
GDS (GDS) EVP Liang Yan Receives 20,775 ADSs
What Happened
Liang Yan, Executive Vice President — Data Center Operation and Delivery at GDS Holdings Ltd, acquired 20,775 ADSs on 2026-04-30 at $0.00 (total $0). The filing lists the transaction as an "other acquisition" (code J) and the ADSs were received upon settlement of fully vested restricted stock units (after performance certification) and option awards.
Key Details
- Transaction date: 2026-04-30; Form 4 filed: 2026-05-04 (appears timely under the 2-business-day rule).
- Shares acquired: 20,775 ADSs at $0.00 per ADS; reported value $0.
- ADS conversion: 1 ADS = 8 Class A ordinary shares, so the award equals 166,200 underlying Class A shares.
- Reason: Settlement of fully vested RSU awards (performance certified April 23, 2026 and time conditions met) and option awards (per footnote).
- Shares owned after transaction: not specified in the provided filing.
- Transaction code: J (other acquisition/disposition) — here used for award/settlement rather than an open-market purchase.
Context
This was an award/settlement (RSU and option settlement) rather than a cash purchase or sale. The $0 per-ADS price reflects issuance on vesting/settlement, which is common for compensation-related grants and does not by itself indicate buying or selling sentiment.
Insider Transaction Report
- Other
American Depositary Shares
[F1][F2]2026-04-30+20,775→ 79,658 total
- 376,024
Class A ordinary shares
Footnotes (2)
- [F1]Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares.
- [F2]Reflects the acquisition of ADSs upon settlement of fully vested (i) Restricted Stock Unit ("RSU") awards after certification of performance conditions on April 23, 2026 and satisfaction of time conditions, and (ii) Option awards.