[144] GDS Holdings Limited ADS SEC Filing

Rhea-AI Filing Summary

GDS Holdings Limited filed a Form 144 reporting a proposed same-day sale of 10,000 ordinary shares represented by ADS through Georgeson Securities Corporation on 08/29/2025. The filing lists an aggregate market value of $350,800 for the shares and shows 1,665,829,316 shares outstanding. The securities were acquired on 04/29/2021 as a release of restricted share units under the GDS incentive plan and the transaction type is noted as a same day sale. The filer states there were no reported sales in the past three months and includes the standard representation that the seller is not aware of undisclosed material adverse information.

Positive

• Full Rule 144 disclosure provided, including acquisition date, broker, and sale date, supporting regulatory transparency
• No sales reported in the past three months by the filer, indicating this is not part of repeated recent dispositions

Negative

• Insider sale of equity (10,000 ADS) which, while small, represents monetization of previously restricted compensation

Insights

Securities Analyst

TL;DR: Routine insider notice for a small block of ADS; limited near-term market impact.

The Form 144 discloses a proposed sale of 10,000 ADS with an aggregate market value of $350,800 executed through Georgeson Securities on 08/29/2025. The shares were acquired via restricted share unit release on 04/29/2021 and are to be sold as a same-day sale. Relative to the issuer's reported outstanding shares (1,665,829,316), this block is immaterial in size and unlikely to move the market. The filing is procedural: it provides the required notice under Rule 144 and confirms no sales by the filer in the past three months.

Corporate Governance Expert

TL;DR: Disclosure aligns with compliance expectations; indicates an insider RSU monetization event.

The document shows disposal of equity originating from restricted share units granted under the company incentive plan, consistent with typical executive or insider compensation vesting and monetization. The seller attests to no undisclosed material adverse information, and the filing records no prior three-month sales by the same person. From a governance perspective, the form satisfies Rule 144 notification requirements but does not by itself indicate governance concerns or material corporate developments.

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	10000	350800.00	1665829316	08/29/2025	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	04/29/2021	RESTRICTED SHARE UNITS RELEASE SALE UNDER GDS INCENTIVE PLAN	GDS HOLDINGS LIMITED			10000	08/29/2025	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 for GDS (GDS) report?

The filing reports a proposed same-day sale of 10,000 ADS through Georgeson Securities on 08/29/2025 with aggregate market value $350,800.

How and when were the securities acquired according to the filing?

The securities were acquired on 04/29/2021 as a restricted share unit release under the GDS incentive plan.

How many GDS shares are outstanding per the Form 144?

The filing lists 1,665,829,316 shares outstanding.

Does the filer report other sales in the past three months?

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

Which broker is handling the proposed sale?

The sale is to be executed through Georgeson Securities Corporation, address provided in the filing.