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Dingdong (NYSE: DDL) CMO details ADS and long-dated option holdings

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

Dingdong (Cayman) Ltd Chief Merchandising Officer Xu Zhijian has filed an initial ownership report for American depositary shares (ADS) and options. Xu holds 24,644 ADS directly and a series of options to buy ADS at exercise prices of $0.00, $3.4684 and $7.80 per ADS, with various vesting and expiration schedules extending to 2035.

The option positions include several larger grants, such as 131,250 underlying ADS expiring in 2034 and 78,750 underlying ADS expiring in 2035, alongside multiple smaller grants in the 2,916–72,800 ADS range. A footnote states that two ADS represent three Class A ordinary shares, linking these holdings to the company’s ordinary share capital structure.

Positive

  • None.

Negative

  • None.
Insider Xu Zhijian
Role Chief Merchandising Officer
Type Security Shares Price Value
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding Option to Buy -- -- --
holding American depositary shares -- -- --
Holdings After Transaction: Option to Buy — 78,750 shares (Direct); American depositary shares — 24,644 shares (Direct)
Footnotes (1)
  1. [object Object]
SEC Form 3
FORM 3UNITED 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
OMB APPROVAL
OMB Number:3235-0104
Estimated average burden
hours per response:0.5
1. Name and Address of Reporting Person*
Xu Zhijian

(Last)(First)(Middle)
ROOM 501, NO. 17, LANE 3338 JINXIU ROAD
PUDONG NEW AREA

(Street)
SHANGHAI200125

(City)(State)(Zip)

UNITED STATES

(Country)
2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026
3. Issuer Name and Ticker or Trading Symbol
Dingdong (Cayman) Ltd [ DDL ]
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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Merchandising Officer
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
American depositary shares(1)24,644D
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 ExercisableExpiration DateTitleAmount or Number of Shares
Option to Buy06/30/202606/30/2035American depositary shares(1)78,750$0D
Option to Buy06/30/202506/30/2034American depositary shares(1)131,250$0D
Option to Buy12/31/202310/31/2030American depositary shares(1)18,578$0D
Option to Buy12/31/202410/31/2030American depositary shares(1)18,578$0D
Option to Buy12/31/202510/31/2030American depositary shares(1)18,580$0D
Option to Buy06/30/202406/30/2030American depositary shares(1)32,442$0D
Option to Buy06/30/202506/30/2030American depositary shares(1)32,445$0D
Option to Buy06/30/202406/30/2031American depositary shares(1)2,916$0D
Option to Buy06/30/202506/30/2031American depositary shares(1)2,916$0D
Option to Buy06/30/202606/30/2031American depositary shares(1)2,919$0D
Option to Buy06/30/202407/01/2032American depositary shares(1)49,847$0D
Option to Buy07/01/202407/01/2033American depositary shares(1)72,800$0D
Option to Buy10/31/202310/31/2032American depositary shares(1)50,000$0D
Option to Buy12/31/202210/31/2030American depositary shares(1)18,578$7.8D
Option to Buy06/30/202306/30/2031American depositary shares(1)2,916$7.8D
Option to Buy06/30/202306/30/2030American depositary shares(1)32,442$7.8D
Option to Buy06/30/202206/30/2030American depositary shares(1)32,444$7.8D
Option to Buy06/30/202309/05/2030American depositary shares(1)31,454$3.4684D
Option to Buy06/30/202209/05/2030American depositary shares(1)31,455$3.4684D
Option to Buy06/30/202109/05/2030American depositary shares(1)62,907$3.4684D
Explanation of Responses:
1. Each American depositary shares (two American depositary shares representing three Class A ordinary share, par value US$0.000002 per share)
/s/ Xu Zhijian03/18/2026
** Signature of Reporting PersonDate
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 Dingdong (DDL) Chief Merchandising Officer Xu Zhijian report in this Form 3?

Xu Zhijian reports his initial ownership in Dingdong, including 24,644 American depositary shares and multiple option grants over additional ADS. These positions outline his equity-based alignment with the company through both direct holdings and long-dated options.

How many Dingdong (DDL) American depositary shares does Xu Zhijian hold directly?

Xu Zhijian holds 24,644 American depositary shares directly. This figure reflects his current registered ADS ownership, separate from his numerous option awards that provide rights to acquire additional ADS in the future at fixed exercise prices.

What option grants over Dingdong (DDL) ADS does Xu Zhijian disclose?

Xu discloses many option grants over American depositary shares, including blocks such as 131,250 and 78,750 underlying ADS. These options have exercise prices of $0.00, $3.4684, or $7.80 per ADS and expire between 2030 and 2035, indicating long-term incentives.

What are the exercise prices on Xu Zhijian’s Dingdong (DDL) options?

The disclosed options carry exercise prices of $0.00, $3.4684 and $7.80 per American depositary share. Different grants use different prices, reflecting the terms of various equity incentive awards that may have been granted at different times and conditions.

When do Xu Zhijian’s Dingdong (DDL) option grants expire?

The option grants reported by Xu Zhijian have expiration dates ranging from 2030 through 2035. Each grant has its own specific expiration date, giving him long timeframes during which vested options can potentially be exercised into American depositary shares.

How do Dingdong (DDL) American depositary shares relate to Class A ordinary shares?

A footnote states that two American depositary shares represent three Class A ordinary shares. This ratio links the ADS traded in international markets to the underlying Class A ordinary shares issued by Dingdong, helping investors interpret the economic exposure of each ADS.
Dingdong Cayman Ltd

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