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GDS (GDS) director reports 50,000 ADS stake and option obligations

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

Rhea-AI Filing Summary

GDS Holdings Ltd director Chen Kathy Hua has filed an initial Form 3 reporting her ownership in the company’s American Depositary Shares (ADS). She holds 50,000 ADS directly. Each ADS represents eight Class A ordinary shares, so this position reflects a sizable underlying equity stake.

In addition to the common equity, she reports three outstanding share option positions described as obligations to sell ADS. These options cover 10,000 ADS at an exercise price of $60.00 per ADS expiring on September 18, 2026, 20,000 ADS at $50.00 per ADS expiring on June 18, 2026, and 20,000 ADS at $47.00 per ADS also expiring on June 18, 2026. The footnotes state these options can be exercised early if the ADS price is above the exercise price, or closed if she chooses to buy back the share options.

Positive

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Negative

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Insider Chen Kathy Hua
Role null
Type Security Shares Price Value
holding Share Options (Obligation to Sell) -- -- --
holding Share Options (Obligation to Sell) -- -- --
holding Share Options (Obligation to Sell) -- -- --
holding American Depositary Shares -- -- --
Holdings After Transaction: Share Options (Obligation to Sell) — 20,000 shares (Direct, null); American Depositary Shares — 50,000 shares (Direct, null)
Footnotes (1)
  1. Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares. These share options can be exercised early if the ADS price is above the exercise price, or closed if the reporting person chooses to buy back the share options.
Direct ADS holdings 50,000 ADS American Depositary Shares held directly following reported holdings
ADS-to-ordinary ratio 1 ADS = 8 Class A ordinary shares Equity representation per ADS as described in footnote
Option underlying shares (series 1) 10,000 ADS Share options obligation to sell at $60.00 per ADS, expiring September 18, 2026
Option underlying shares (series 2) 20,000 ADS Share options obligation to sell at $50.00 per ADS, expiring June 18, 2026
Option underlying shares (series 3) 20,000 ADS Share options obligation to sell at $47.00 per ADS, expiring June 18, 2026
Exercise price high $60.00 per ADS Exercise price for one share option series on American Depositary Shares
Exercise price low $47.00 per ADS Exercise price for lowest-strike share option series on ADS
American Depositary Shares financial
"She holds 50,000 American Depositary Shares (ADS) directly."
American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.
Share Options (Obligation to Sell) financial
"She reports three outstanding share option positions described as obligations to sell ADS."
exercise price financial
"These options cover ADS at exercise prices of $60.00, $50.00 and $47.00 per ADS."
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
expiration date financial
"The options expire on June 18, 2026 and September 18, 2026, depending on the series."
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
Class A ordinary shares financial
"Each American Depositary Share (ADS) represents eight Class A ordinary shares."
Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.
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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*
Chen Kathy Hua
(Last)(First)(Middle)
C/O F4/F5, BLDG C, SUNLAND INTERNATIONAL
NO. 999 ZHOUHAI ROAD, PUDONG
(Street)
SHANGHAI200137
(City)(State)(Zip)
CHINA
(Country)		2. Date of Event Requiring Statement (Month/Day/Year)
05/20/2026		3. Issuer Name and Ticker or Trading Symbol
GDS Holdings Ltd [ GDS ]
3a. Foreign Trading Symbol
[9698] 		5. If Amendment, Date of Original Filed (Month/Day/Year)
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
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)50,000D
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
Share Options (Obligation to Sell) (2)06/18/2026American Depositary Shares(1)20,000$47D
Share Options (Obligation to Sell) (2)06/18/2026American Depositary Shares(1)20,000$50D
Share Options (Obligation to Sell) (2)09/18/2026American Depositary Shares(1)10,000$60D
Explanation of Responses:
1. Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares.
2. These share options can be exercised early if the ADS price is above the exercise price, or closed if the reporting person chooses to buy back the share options.
/s/ Kathy Hua Chen06/01/2026
** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider position does Chen Kathy Hua report in GDS (GDS) on this Form 3?

Chen Kathy Hua reports direct ownership of 50,000 American Depositary Shares (ADS) of GDS Holdings Ltd. Each ADS represents eight Class A ordinary shares, giving her a substantial underlying equity interest disclosed as of the Form 3 reporting date.

What derivative positions does Chen Kathy Hua disclose in GDS (GDS)?

She reports three share option positions described as obligations to sell American Depositary Shares. These options reference 10,000, 20,000 and 20,000 ADS at exercise prices of $60.00, $50.00 and $47.00 per ADS, with expirations in June and September 2026.

What are the exercise prices and expirations of the GDS (GDS) share options reported?

The disclosed share options cover American Depositary Shares at exercise prices of $60.00, $50.00 and $47.00 per ADS. According to the filing, the options expire on June 18, 2026 for the $50.00 and $47.00 series and on September 18, 2026 for the $60.00 series.

How many GDS (GDS) ADS are subject to the reported share options?

The Form 3 shows options tied to a total of 50,000 American Depositary Shares. Specifically, they cover 10,000 ADS at $60.00, 20,000 ADS at $50.00 and 20,000 ADS at $47.00, all referencing American Depositary Shares of GDS Holdings Ltd.

What does one GDS (GDS) American Depositary Share represent in ordinary shares?

The footnotes state that each American Depositary Share (ADS) of GDS represents eight Class A ordinary shares. This means Chen Kathy Hua’s 50,000 ADS correspond to 400,000 underlying ordinary shares, although the filing reports positions only in ADS units and related options.

Can the reported GDS (GDS) share options be exercised early or closed?

Yes. The filing notes these share options can be exercised early if the ADS price exceeds the exercise price. It also states they can be closed if the reporting person chooses to buy back the share options, providing flexibility in managing the derivative positions.