Okada Satoshi 4

What Happened
Okada Satoshi, a director of GDS Holdings Ltd (GDS), acquired 980 American Depositary Shares (ADSs) on 2026-05-15 through the settlement of fully vested restricted stock units (RSUs). The Form 4 reports the acquisition at $0.00 per ADS (non-cash award/settlement). Per the filing, each ADS represents eight (8) Class A ordinary shares, so the 980 ADSs correspond to 7,840 underlying Class A shares.

Key Details

• Transaction date: 2026-05-15; filing date: 2026-05-15 (appears timely).
• Transaction type/code: Other acquisition (code J) — settlement of RSUs (footnote F2).
• Shares acquired: 980 ADSs @ $0.00 (Form 4 reports $0.00 as the acquisition price).
• ADS conversion: Each ADS = 8 Class A ordinary shares (footnote F1) → 980 ADSs = 7,840 Class A shares.
• Shares owned after transaction: Not specified in the filing (see Form 4 for full holdings).
• No 10b5-1 plan, tax withholding, or late-filing indication noted in this report.

Context
This was an RSU settlement (compensation-related issuance), not an open-market purchase or sale. Such awards reflect compensation vesting and are recorded at $0.00 on Form 4; they do not necessarily signal a director-initiated buy or sell decision. For trading signal purposes, open-market purchases or sales are generally more informative than award settlements.