Bilibili (BILI) CEO Chen Rui reports initial share and option holdings

Rhea-AI Filing Summary

Bilibili Inc. director, chairman and CEO Chen Rui filed an initial statement of beneficial ownership, outlining his equity position in the company. He reports direct share options over 1,000,000, 1,000,000 and 3,000,000 Class Z ordinary shares at exercise prices including $0.0001 and $10.47, plus 412,000 performance-based restricted share units tied to Class Z shares. He also reports indirect ownership of 48,032,802 Class Y ordinary shares held through Vanship Limited, an entity controlled by a Cayman trust for which Chen is settlor and a beneficiary, with beneficial ownership disclaimed except for his pecuniary interest.

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^*

Chen Rui

(Last) (First) (Middle)

C/O BILIBILI INC., BLDG. 3 GUOZHENG CNTR

NO. 485 ZHENGLI ROAD, YANGPU DISTRICT

(Street)

SHANGHAI F4 200433

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
Bilibili Inc. [ BILI ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman of the Board and CEO

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

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)
Class Y Ordinary Shares	48,032,802	I	See footnote(1)

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
Share Option (right to buy)	(2)	03/23/2028	Class Z Ordinary Shares	1,000,000	$0.0001	D
Share Option (right to buy)	(3)	03/23/2028	Class Z Ordinary Shares	1,000,000	$10.47	D
Share Option (right to buy)	(4)	11/23/2028	Class Z Ordinary Shares	3,000,000	$0.0001	D
Performance-based Restricted Share Units	(5)	(5)	Class Z Ordinary Shares	412,000	(5)	D

Explanation of Responses:

1. Represents securities held by Vanship Limited (the "Vanship"). Vanship is controlled by a trust established under the laws of Cayman Islands (the "Trust) and managed by TMF (Cayman) Ltd. as the trustee. Mr. Chen is the settlor of the Trust, and Mr. Chen and his family members are the Trust's beneficiaries. Under the terms of the Trust, Mr. Chen may be deemed to have the voting and dispositive power over the Issuer's shares held by the Vanship. The Reporting Person disclaims beneficial ownership of the securities held by the Vanship except to the extent of his pecuniary interest therein.

2. Represents a single option award grant with respect to 1,000,000 total shares initially. 800,000 of the total shares subject to the option have become vested and exercisable as of the date hereof, and 200,000 of the shares subject to the option shall become vested and exercisable on March 23, 2026.

3. Represents a single option award grant with respect to 1,000,000 total shares initially. 800,000 of the total shares subject to the option have become vested and exercisable as of the date hereof, and 200,000 of the shares subject to the option shall become vested and exercisable on March 23, 2026.

4. Represents a single option award grant with respect to 3,000,000 total shares initially. 2,505,000 of the total shares subject to the option have become vested and exercisable as of the date hereof, and 495,000 of the shares subject to the option shall become vested and exercisable on November 23, 2026.

5. Represents performance based restricted share units (the "PSUs") granted on December 15, 2025, the vesting of which was conditional upon the achievement of the performance targets as determined by the board of directors of the Issuer. Each PSU represents a contingent right to receive one Class Z ordinary share of the Issuer.

	/s/ Rui Chen	03/17/2026
	** 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).
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FAQ

What does Chen Rui’s Form 3 filing for Bilibili (BILI) show?

The Form 3 shows Chen Rui’s initial ownership in Bilibili. It details multiple option awards over Class Z ordinary shares, performance-based restricted share units, and a large block of Class Y ordinary shares held indirectly through Vanship Limited, a trust-controlled entity linked to him.

How many Bilibili Class Y Ordinary Shares are reported indirectly held for Chen Rui?

The filing reports 48,032,802 Class Y ordinary shares held indirectly. These shares are held by Vanship Limited, which is controlled by a Cayman trust for which Chen Rui is the settlor and a beneficiary, with beneficial ownership disclaimed beyond his pecuniary interest.

What share option awards does Chen Rui report in the Bilibili Form 3?

Chen Rui reports three major share option awards over Class Z shares. They cover blocks of 1,000,000, 1,000,000 and 3,000,000 underlying Class Z ordinary shares, with exercise prices including $0.0001 and $10.47 and expirations in March 2028 and November 2028.

What performance-based restricted share units does Chen Rui hold in Bilibili?

The Form 3 lists 412,000 performance-based restricted share units (PSUs). Each PSU represents a contingent right to receive one Class Z ordinary share, granted on December 15, 2025, with vesting dependent on performance targets determined by Bilibili’s board of directors.

Does the Bilibili Form 3 show Chen Rui buying or selling shares?

No purchases or sales are reported in this Form 3. The entries are categorized as holdings, describing Chen Rui’s existing options, performance-based restricted share units, and indirect Class Y share interests, rather than reporting new buy or sell transactions.