GDS Holdings Ltd (GDS) executive member granted 180 ADS equity award

Rhea-AI Filing Summary

KING JONATHAN ALLEN reported acquisition or exercise transactions in this Form 4 filing.

GDS Holdings Ltd executive committee member Jonathan Allen King reported the grant/award of 180 American Depositary Shares (ADS) on 2026-07-15 at a price of $0.00 per ADS, received upon settlement of Restricted Stock Units that fully vested immediately at grant. Following this award, he directly holds 17,007 ADS, with each ADS representing eight Class A ordinary shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider KING JONATHAN ALLEN

Role Insider

Type	Security	Shares	Price	Value
Grant/Award	American Depositary Shares	180	$0.00	--

Holdings After Transaction: American Depositary Shares — 17,007 shares (Direct)

Footnotes (1)

1. Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares. Reflects the acquisition of ADSs upon settlement of Restricted Stock Unit ("RSU") awards fully vested immediately upon their grant.

Key Figures

ADS grant size: 180 American Depositary Shares Grant price: $0.00 per ADS Holdings after transaction: 17,007 American Depositary Shares +2 more

5 metrics

ADS grant size 180 American Depositary Shares Grant/award acquisition reported on 2026-07-15

Grant price $0.00 per ADS Price for the 180 ADS stock award

Holdings after transaction 17,007 American Depositary Shares Direct holdings following the grant to Jonathan Allen King

ADS to ordinary share ratio 1 ADS = 8 Class A ordinary shares Share ratio stated in the footnote

Transaction count (acquisitions) 1 acquisition transaction Single grant/award acquisition in this Form 4

Key Terms

American Depositary Shares, Restricted Stock Unit, Class A ordinary shares

3 terms

American Depositary Shares financial

"Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares."

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.

Restricted Stock Unit financial

"Reflects the acquisition of ADSs upon settlement of Restricted Stock Unit ("RSU") awards fully vested"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

Class A ordinary shares financial

"Each American Depositary Share ("ADS") represents eight (8) 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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Available on EDGAR 07/15/2026 - 07:18 AM Accepted by SEC EDGAR 07/15/2026 - 07:17 AM Learn about SEC filing dates

FAQ

What insider transaction did GDS (GDS) report for Jonathan Allen King?

GDS reported that Jonathan Allen King received a grant of 180 American Depositary Shares (ADS) on 2026-07-15. The ADSs were acquired at $0.00 per ADS upon settlement of Restricted Stock Units that fully vested immediately at grant.

How many GDS (GDS) shares does Jonathan Allen King hold after this Form 4 transaction?

After the reported transaction, Jonathan Allen King directly holds 17,007 American Depositary Shares (ADS) of GDS Holdings Ltd. Each ADS represents eight Class A ordinary shares, giving context to the size of his equity position in the company.

Was the GDS (GDS) insider transaction an open-market buy or a stock award?

The transaction was a stock award, not an open-market purchase. Jonathan Allen King acquired 180 ADS at a price of $0.00 per ADS as a grant/award upon settlement of fully vested Restricted Stock Units.

What do the GDS (GDS) Form 4 footnotes say about the ADS and RSU award?

Footnotes state that each ADS represents eight Class A ordinary shares and that the 180 ADS reflect acquisition upon settlement of Restricted Stock Unit awards that were fully vested immediately when granted to Jonathan Allen King.

What role does Jonathan Allen King have at GDS (GDS) in this Form 4 filing?

Jonathan Allen King is identified as a member of the executive committee of GDS Holdings Ltd. He is not listed as a director or officer in the filing, but his role ties him to the company’s senior leadership structure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

KING JONATHAN ALLEN

(Last) (First) (Middle)

C/O F4/F5, BLDG C, SUNLAND INTERNATIONAL

NO. 999 ZHOUHAI ROAD, PUDONG

(Street)

SHANGHAI 200137

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
GDS Holdings Ltd [ GDS ]

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

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member, executive committee

2a. Foreign Trading Symbol
[9698]

3. Date of Earliest Transaction (Month/Day/Year)
07/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
American Depositary Shares(1)	07/15/2026		A(2)		180	A	$0	17,007(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Each American Depositary Share ("ADS") represents eight (8) Class A ordinary shares.

2. Reflects the acquisition of ADSs upon settlement of Restricted Stock Unit ("RSU") awards fully vested immediately upon their grant.

	/s/ Jonathan Allen King	07/15/2026
	** 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 4 (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 4: SEC 1474 (03-26)