KING JONATHAN ALLEN 4

What Happened Jonathan Allen King (member of the executive committee) reported the acquisition of 160 American Depositary Shares (ADSs) of GDS Holdings Ltd on 2026-05-15. The transaction is listed as an "Other acquisition" (code J) and shows a reported price of $0.00, reflecting settlement of fully vested restricted stock units (RSUs). Per the filing, each ADS represents eight Class A ordinary shares, so 160 ADSs equal 1,280 Class A ordinary shares.

Key Details

• Transaction date: 2026-05-15; transaction code: J (other acquisition/disposition)
• Shares acquired: 160 ADSs @ $0.00 (acquisition reported as $0)
• ADS conversion: 1 ADS = 8 Class A ordinary shares → 160 ADSs = 1,280 ordinary shares (see footnote)
• Footnotes: F1 (ADS conversion), F2 (acquisition reflects settlement of fully vested RSU awards)
• Filing/timeliness: Report filed for period 2026-05-15 (no late filing indicated)
• Ownership after transaction: Not specified in the provided filing details

Context This was a compensation-related settlement (vested RSUs converted into ADSs), not an open-market purchase or sale. Such awards reflect executive compensation vesting and do not, by themselves, signal the insider’s market view. For retail investors, open-market purchases or sales can be more directly informative about insider sentiment than routine RSU settlements.