[144] GDS Holdings Limited ADS SEC Filing

Rhea-AI Filing Summary

GDS Holdings Limited (GDS) filed a Form 144 notice to sell 25,000 ADS represented as ordinary shares, with an aggregate market value of $829,250. The shares represent a small fraction of the 1,665,829,316 shares outstanding and are scheduled for sale on 09/09/2025 through Georgeson Securities Corporation. The ADS were acquired under the companys incentive plan on several dates between 08/20/2021 and 08/23/2024 and are marked for same-day sale. The filing reports no sales in the past three months.

Positive

• Detailed transaction disclosures including acquisition dates, quantities, broker, and sale date facilitate transparency
• No sales reported in the past three months, suggesting this filing is not part of an active recent selling pattern

Negative

• Filer identity fields (CIK and contact details) are not populated in the provided excerpt, limiting traceability

Insights

Securities Analyst

TL;DR: Routine insider sale notice for a small position; not likely material to valuation.

The Form 144 discloses a proposed sale of 25,000 ADS totaling $829,250 against 1,665,829,316 shares outstanding, indicating the sale is immaterial in size (<0.002% of outstanding shares). The trade uses a recognized broker and lists acquisition dates under the company incentive plan, supporting compliance with Rule 144 disclosure requirements. No prior sales in the past three months are reported, and proceeds are characterized as same-day sale. Overall, this is a standard disclosure without clear market-moving implications.

Corporate Governance Expert

TL;DR: Filing shows procedural compliance but lacks some filer-identifying details in the provided text.

The notice provides transaction-level detail (acquisition dates, quantities, broker, sale date, and payment nature), which aids transparency around insider dispositions. However, the supplied content does not include complete filer identity fields (CIK and contact fields appear blank in the excerpt). For governance review, clear identification of the selling person and their relationship to the issuer is important; that information appears incomplete in the provided text. The disclosure otherwise follows expected format for Rule 144 notices.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
ORDINARY SHARES REPRESENTED BY ADS	GEORGESON SECURITIES CORPORATION 144 FERNWOOD AVE EDISON NJ 08837	25000	829250.00	1665829316	09/09/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
ORDINARY SHARES REPRESENTED AS ADS	08/20/2021	ACQUIRED STOCK UNDER GDS INCENTIVE PLAN	GDS HOLDINGS LIMITED			422	09/08/2025	SAME DAY SALE
ORDINARY SHARES REPRESENTED AS ADS	05/20/2022	ACQUIRED STOCK UNDER GDS INCENTIVE PLAN	GDS HOLDINGS LIMITED			4670	09/08/2025	SAME DAY SALE
ORDINARY SHARES REPRESENTED AS ADS	08/23/2023	ACQUIRED STOCK UNDER GDS INCENTIVE PLAN	GDS HOLDINGS LIMITED			6504	09/08/2025	SAME DAY SALE
ORDINARY SHARES REPRESENTED AS ADS	08/06/2024	ACQUIRED STOCK UNDER GDS INCENTIVE PLAN	GDS HOLDINGS LIMITED			4463	09/08/2025	SAME DAY SALE
ORDINARY SHARES REPRESENTED AS ADS	08/23/2024	ACQUIRED STOCK UNDER GDS INCENTIVE PLAN	GDS HOLDINGS LIMITED			2541	09/08/2025	SAME DAY SALE
ORDINARY SHARES REPRESENTED AS ADS	08/23/2024	ACQUIRED STOCK UNDER GDS INCENTIVE PLAN	GDS HOLDINGS LIMITED			2641	09/08/2025	SAME DAY SALE
ORDINARY SHARES REPRESENTED AS ADS	08/23/2024	ACQUIRED STOCK UNDER GDS INCENTIVE PLAN	GDS HOLDINGS LIMITED			3759	09/08/2025	SAME DAY SALE

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed for GDS (GDS) disclose?

The Form 144 discloses a proposed sale of 25,000 ADS with an aggregate market value of $829,250, scheduled for 09/09/2025 through Georgeson Securities Corporation.

How many GDS shares are outstanding and how material is this sale?

The filing lists 1,665,829,316 shares outstanding; the 25,000 ADS represent an immaterial fraction of total shares outstanding (0.002% approximately).

When and how were the ADS being sold in the Form 144 acquired?

The ADS were acquired under the GDS incentive plan on dates between 08/20/2021 and 08/23/2024, in multiple lots totaling 25,000 ADS.

Who is the broker handling the proposed sale in the filing?

The named broker in the filing is Georgeson Securities Corporation, located at 144 Fernwood Ave, Edison, NJ.

Did the filer report any securities sold in the past three months?

The filing states "Nothing to Report" for securities sold during the past three months.