Alibaba (NYSE: BABA) HR chief reports multi-million share and RSU stake

Rhea-AI Filing Summary

Alibaba Group Holding Ltd’s Chief People Officer, Jiang Fang, has filed an initial statement of ownership showing a substantial equity position. She holds 5,534,168 Ordinary Shares directly and an additional 23,116,864 Ordinary Shares indirectly through a trust. The filing also lists several outstanding unvested restricted share unit awards over Ordinary Shares, including blocks such as 56,000, 42,672, 31,600, and others that vest in scheduled annual or quarterly installments starting between 2021 and 2025. In addition, she holds an option over 160,000 Ordinary Shares expiring on February 24, 2031 with an exercise price of HK$68 (approximately US$8.72) per ordinary share. Some awards were granted in the form of ADSs, where each ADS represents 8 ordinary shares, and each restricted share unit gives a contingent right to receive one ADS or one ordinary share, as applicable.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Jiang Fang

(Last) (First) (Middle)

26/F TOWER ONE, TIMES SQUARE

1 MATHESON STREET, CAUSEWAY BAY

(Street)

HONG KONG HONG KONG 00000

(City) (State) (Zip)

HONG KONG

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Alibaba Group Holding Ltd [ BABA ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief People Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares	5,534,168	D
Ordinary Shares	23,116,864	I	By trust

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Shares Units	(1)	(1)	Ordinary Shares(2)	2,672(1)(2)	(2)	D
Restricted Shares Units	(3)	(3)	Ordinary Shares(2)	14,936(2)(3)	(2)	D
Restricted Shares Units	(4)	(4)	Ordinary Shares(2)	31,600(2)(4)	(2)	D
Restricted Shares Units	(5)	(5)	Ordinary Shares(2)	42,672(2)(5)	(2)	D
Restricted Shares Units	(6)	(6)	Ordinary Shares(2)	28,336(2)(6)	(2)	D
Restricted Shares Units	(7)	(7)	Ordinary Shares(8)	28,334(7)	(8)	D
Restricted Shares Units	(9)	(9)	Ordinary Shares(8)	56,000(9)	(8)	D
Option (right to buy)	(10)	02/24/2031	Ordinary Shares	160,000	(11)	D

Explanation of Responses:

1. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of American Depository Shares ("ADSs") that vests in six equal annual installments beginning on Apr 1, 2021, subject to the terms and conditions of the underlying award agreement.

2. Each restricted share unit represents a contingent right to receive one ADS. Each ADS represents 8 ordinary shares. This amount represents the ordinary shares underlying the ADSs in this award.

3. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in six equal annual installments beginning on Apr 1, 2022, subject to the terms and conditions of the underlying award agreement.

4. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in six equal annual installments beginning on Apr 1, 2023, subject to the terms and conditions of the underlying award agreement.

5. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in six equal annual installments beginning on Apr 1, 2024, subject to the terms and conditions of the underlying award agreement.

6. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ADSs that vests in twenty-four equal quarterly installments beginning on Jul 1, 2024, subject to the terms and conditions of the underlying award agreement.

7. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in twenty-one quarterly installments, with 1/6 vesting on Jul 1, 2025 and 1/24 quarterly thereafter beginning on Oct 1, 2025, subject to the terms and conditions of the underlying award agreement

8. Each restricted share unit represents a contingent right to receive one ordinary share.

9. Reflects the outstanding unvested portion of a restricted share unit award granted in the form of ordinary shares that vests in twenty-four equal quarterly installments on beginning on Jul 1, 2025, subject to the terms and conditions of the underlying award agreement.

10. Reflects an option award granted in the form of ordinary shares that vests 40% in the second year and then 30% each in the third year and the fourth year beginning on Mar 1, 2027, subject to the terms and conditions of the underlying award agreement.

11. The exercise price of this option is HK$68 per ordinary share. The exercise price reported herein was converted from Hong Kong dollars to United States dollars at a conversion price of HK$68 to US$8.72.

	/s/ Kevin Jinwei Zhang, as Attorney-in-Fact for Fang Jiang	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Alibaba (BABA) Chief People Officer Jiang Fang report in this Form 3?

Jiang Fang reports her initial beneficial ownership in Alibaba, including direct holdings of 5,534,168 Ordinary Shares, indirect holdings of 23,116,864 Ordinary Shares through a trust, multiple unvested restricted share unit awards, and an option over 160,000 Ordinary Shares with a defined vesting and expiration schedule.

How many Alibaba (BABA) Ordinary Shares does Jiang Fang hold directly and indirectly?

The filing shows direct ownership of 5,534,168 Ordinary Shares and indirect ownership of 23,116,864 Ordinary Shares held by a trust. Together, these positions indicate a large reported stake associated with Jiang Fang, combining direct and trust-based holdings disclosed as of the Form 3 date.

What restricted share units does Jiang Fang report in Alibaba (BABA)?

Jiang Fang reports several unvested restricted share unit awards over Alibaba Ordinary Shares, including tranches of 56,000, 42,672, 31,600, 28,336, 28,334, 14,936 and 2,672 underlying shares. These RSUs vest in scheduled annual or quarterly installments beginning between April 2021 and July 2025, subject to award agreements.

How are Alibaba (BABA) ADS-based restricted share units structured for Jiang Fang?

Certain awards were granted as American Depositary Shares (ADSs), where each restricted share unit is a contingent right to receive one ADS, and each ADS represents 8 ordinary shares. The reported underlying share amounts reflect the ordinary shares corresponding to these ADS-based RSU awards.

What stock option position does Jiang Fang disclose in Alibaba (BABA)?

Jiang Fang discloses an option award over 160,000 Alibaba Ordinary Shares that vests 40% in the second year and 30% in each of the third and fourth years starting March 1, 2027. The option expires on February 24, 2031 and carries an exercise price of HK$68 per share.

Does this Alibaba (BABA) Form 3 show any insider buying or selling by Jiang Fang?

The Form 3 presents Jiang Fang’s beneficial ownership positions and outstanding awards but does not report any explicit buy or sell transactions. The entries are classified as holdings, detailing shares, restricted share units and options, rather than new open-market purchases or sales on the reported date.